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Old 02-03-2012, 03:14 PM   #576
rje8686
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Re: Response regarding money I owe to Full Tilt

Were you in breach of your PS contract Barry?
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Old 02-03-2012, 03:16 PM   #577
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Re: Response regarding money I owe to Full Tilt

Quote:
Originally Posted by EarlyCuyler View Post
I never knew Layne Flack's credit rating made him eligible for a 2 million dollar loan. Someone should have used freecreditscore site before they authorized this loan.
+1
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Old 02-03-2012, 03:19 PM   #578
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Originally Posted by rje8686 View Post
Were you in breach of your PS contract Barry?
He addresses that in the Pokernews interview.
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Old 02-03-2012, 03:19 PM   #579
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by ItsRainingMen View Post
the apologists are just hilarious. nothing about greenstein publicly covering his own ass once it was revealed he was part of the problem is admirable
Well, it beats making stuff up and then slamming people for invented wrongs. As long as time matters not at all in your figuring of the past, all your accusations are true. Why don't you invent some more scumbag behavior and attribute it to barry and a number of other people? Oh, what forum am I in again?
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Old 02-03-2012, 03:21 PM   #580
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by tiltnonstop View Post
Assuming the rumours are true, BarryG has owed 400k for 5 ****ing years. And now he comes here and tries to make us believe him not paying has ANYTHING to do with the uncertainties of the Tapie takeover?
You're being silly. Was there a fixed date that he had to pay back by and didn't? Did FTP demand the money at some point, and Barry refused?
The only issue is that Tapie IS asking for the money back now and Barry is holding out for speculative reasons.
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Old 02-03-2012, 03:21 PM   #581
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Re: Response regarding money I owe to Full Tilt

In before BG makes standard NVG any takers 50k bet that he will make full restitution.
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Old 02-03-2012, 03:28 PM   #582
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Re: Response regarding money I owe to Full Tilt

Always liked and respected BG, very shocked and concerned about this. How long ago was the loan?

Are any of the players named in the Epic Poker League? Does this not violate their policy?
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Old 02-03-2012, 03:30 PM   #583
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by SGT RJ View Post
The entire point of my post was really to point out that there are many hysterical and needlessly fear/anger mongering posters, although this being NVG I wouldn't expect anything less.
Tapie asked his lawyer to give a statement to the effect of "The deal might not go through because these guys won't repay their debts." I think NVG's pretty surprisingly calm.
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Old 02-03-2012, 03:30 PM   #584
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by gimmick122 View Post
You're being silly. Was there a fixed date that he had to pay back by and didn't? Did FTP demand the money at some point, and Barry refused?
The only issue is that Tapie IS asking for the money back now and Barry is holding out for speculative reasons.
Read the pokernews interview. After Black Friday, they did try to get the money back but he refused to pay.
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Old 02-03-2012, 03:36 PM   #585
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by oneonth3run View Post
Not sure if it's been posted, Barry gave an interview about all of this on pokernews and gave some interesting opinions: http://www.pokernews.com/news/2012/0...oney-11943.htm
Decent interview.
Quote: "It wouldn't have made sense three months ago if the management at Full Tilt would have called me and said, "Hey, we need that money. Give us that $400,000 you borrowed from us." I would have walked on that too."

So he wouldn't have given the money to Bitar/Ferguson, but does this mean Barry is basically waiting for the DoJ to say "OK, we've seen the company accounts now. We know how much Ivey, Lindgren, Flack, Benyamine, Greenstein owe, so we'll be going after them too"?

Ultimately, many of these "assets" belong to players, but it seems the DoJ, FTP owners, GBT, and the pros that received loans, are gonna be fighting over them for months.
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Old 02-03-2012, 03:37 PM   #586
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by GLUIPERIG View Post
1. $400K is not going to get ANYONE paid (ROW or US) so whether he pays now or after a deal is struck shouldn't really matter.
It could actually pay a lot of people, also a few hundred k here, a few hundred k there, and all of a sudden you're talking about real money.
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Originally Posted by GLUIPERIG View Post
2. If $400K is a deal breaker for GBT then that's a major LOL!!!
There's a breakeven point somewhere, and it's not just one loan. Obviously people are being vocal about BG because he's posting (and presumably reading the responses) but I assume most people hate the other people even more if they're holding the deal up and not saying anything.

Quote:
Originally Posted by GLUIPERIG View Post
3. If anyone of us were in any of these FTP pro's situation, we would probably be doing the same thing. It's ridiculous that it's come to this, but at the same time, all of these guys were just handed a 6-7 figure freeroll. Sure, they SHOULD pay back the debts, but if FTP goes under, they are off the hook for what was loaned to them. These guys clearly don't care what happens to the rest of the players and are just looking at the best line for THEMSELVES. I'd say about 98% of us would do the same thing...and anyone who says otherwise, is just saying that because you want your FTP money back.
No. If I were in that situation of course I'd take the money, but when I borrow money, then the person wants their money back, assuming there wasn't already a deal where I get it for longer and I had enough to pay it back, I'd pay it back.

Also if FTP goes under they are most definitely not off any hook. FTP would go into bankruptcy and the assets, which include unpaid debts, would presumably be collected on by whoever arbitrated the bankruptcy (government in w/e country it's incorporated in?) and used to pay out stockholders/players/other owed parties. So even if FTP goes under these debts do not go away.
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Old 02-03-2012, 03:38 PM   #587
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Re: Response regarding money I owe to Full Tilt

I'll flag this thread to anyone who asks, in the future, why hasn't so and so let us know what's going on with what ever.
Example, Ivey hasn't told us squat about what's happening with the money regarding XYZ.

Response. https://forumserver.twoplustwo.com/29...-tilt-1161767/
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Old 02-03-2012, 03:43 PM   #588
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Re: Response regarding money I owe to Full Tilt

At least BG has actually made a statement about the money he owes!! Does anybody know exactly what the process of attaining a Full Tilt loan was??! Was it really just a case of making a phone call???????????? Or was there some kind of contract, or legal undertaking?!
What if the other players simply dont have the money to pay what they owe??!
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Old 02-03-2012, 03:44 PM   #589
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Re: Response regarding money I owe to Full Tilt

"I still think, the advice I'd give to anyone else in this situation, including Phil, is, be ready to pay when this whole case is resolved. Which hopefully will happen in the next six months."



i need some drinks this evening...sorry but you and you're friends were one of the reasons for this case...

Last edited by pokrat; 02-03-2012 at 03:50 PM.
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Old 02-03-2012, 03:45 PM   #590
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Re: Response regarding money I owe to Full Tilt

[QUOTE=

Valid point but I FTP has now been taken over?[/QUOTE]

By whom? Certainly not by GBT yet or they would be paying the ROW players.
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Old 02-03-2012, 03:46 PM   #591
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Re: Response regarding money I owe to Full Tilt

Quote:
Originally Posted by NoahSD View Post
Tapie asked his lawyer to give a statement to the effect of "The deal might not go through because these guys won't repay their debts." I think NVG's pretty surprisingly calm.
Fair point, it could be worse.
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Old 02-03-2012, 03:53 PM   #592
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Re: Response regarding money I owe to Full Tilt

This quote from an older Brandon Adams blog post came to mind

Quote:
To me, the threat of violence in gambling is the reason that we need regulation to hit the poker space as soon as possible. People have lost sight of the reasons why violence and gambling are natural bedfellows. First, gamblers are often sick and tend to run up debts. Since these debts are hard or impossible to collect using normal channels, force is often used. The gambling world tends to evolve over time towards people who use force (or are friendly with people who use force), for the simple reason that those are the people who get paid first. At present, many online players are entering the live world I am sure they will win millions, but at the end they will have little hard coin and a lot of IOUs. Second, cheating and other angling is rampant in gambling, and the only protection is the threat of force. Third, because gambling is a cash economy that intersects with other, more dangerous cash economies, gamblers not protected by the threat of violence are open targets for extortion and theft.
http://www.macroeconomicwoes.com/unc...nnot-hold.html
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Old 02-03-2012, 03:54 PM   #593
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by shortbusbully View Post
He still should have been more forthcoming about oweing the money in the first place.
Why?

Quote:
Originally Posted by shortbusbully View Post
All of them should have been. Durr was, even before any of it went public, why are these ones so secretive? Oh wait i know why, because when a site tanks due to insufficient funds it kinda looks bad that the pros owe ****loads of money to said site....
But, unlike the others, Barry isn't an FTP pro.
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Old 02-03-2012, 03:57 PM   #594
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Quote:
Originally Posted by NoahSD View Post
Tapie asked his lawyer to give a statement to the effect of "The deal might not go through because these guys won't repay their debts." I think NVG's pretty surprisingly calm.
+1
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Old 02-03-2012, 03:58 PM   #595
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Re: Response regarding money I owe to Full Tilt

Quote:
Originally Posted by SGT RJ View Post
I don't place any trust in anything coming from FTP. Questioning it is fine. Stating unequivocally that BARRYG STOLE OUR MONIES WHEN HE BORROWED!!! is what I would question.

That being said, and I'm admittedly not an expert on this topic, what I've read (most from the S:P) people led me to believe that FTP was solvent "a few years ago". Without knowing the exact dates of the loan, or the exact date FTP went from being profitable to borrowing player money to fund their business, this isn't something anyone here can answer definitively, but its certainly possible if the loan was "a few years ago" that no player money was involved.



I don't know the exact answer to that. I suspect you don't either. But if he did borrow the money "a few years ago", then it's certainly possible no player money was involved in the loan.


The entire point of my post was really to point out that there are many hysterical and needlessly fear/anger mongering posters, although this being NVG I wouldn't expect anything less.
what are you even talking about? Just stop.
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Old 02-03-2012, 04:01 PM   #596
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Re: Response regarding money I owe to Full Tilt

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Originally Posted by tuccotrading View Post
I have questions about those at FTP who authorized large player loans.

Was FTP in the red at anytime in the "Player Balance" when they paid dividends to owners or made these "player loans?"
Yes, but probably not at the time they made the loan to Barry.
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Old 02-03-2012, 04:01 PM   #597
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Re: Response regarding money I owe to Full Tilt

Also barry claiming giving back 400k wont make a difference is stupid, thats what every red pro who plundered the company collectively must think. Meanwhile they are playing the biggest cash games and 250k super high roller tourneys around the world.
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Old 02-03-2012, 04:06 PM   #598
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Re: Response regarding money I owe to Full Tilt

Quote:
Originally Posted by barryg1 View Post

I borrowed $400,000 to play on Full Tilt a few years ago, before PokerStars had high stakes games. I didn’t pay it back, hoping that some people who owed me and had money on Full Tilt would pay me there so I could use that against the debt. (I'm only owed about $150,000 now). I have assumed when this case is resolved, the DOJ will allow methods for dealing with debt to FTP.
Well, this could be very simple...all the FTP debts should be paid back with interest. If I was trying to put off my 2000 Visa bill for 60 days because FTP was holding my funds, they would laugh in my face. Ivey can borrow 4 million, and you can borrow 400k etc for a 'few years'. at 10% for 4 years you owe more like 600k and 6 million. This money would quickly add up. Then the pros can grind 1/2 to make a living like all the other hard working kids have done.

All the 'pros' are playing high stakes and high buy in tourneys with OPM. I could cash for millions too if I played with unlimited credit. Quite a scam, no wonder poker has such a **** reputation.

To be direct, all of you who participated should go **** yourselves.



Oh and lastly, a stand up guy would have come out and said you owe 400k when **** hit the fan, not when it was exposed. A stand up guy would have paid it back 'a few years ago'.


Guess what guys, I owe Visa 2500. There you go, not so hard to admit your debts. F off.
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Old 02-03-2012, 04:07 PM   #599
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Re: Response regarding money I owe to Full Tilt

Quote:
Originally Posted by Archi View Post
Why does Barry feel like he is responsible to pay somewhere where the money will be used to pay off only US players? Everyony should get paid, not only US players. Just pay the BTG, or pay according to percentage how much of the money is missed by US players, and how much are owed to the rest of the world. or pay 50% to BTG and 50% to DOJ. whatever. Just pay for god sake.

Escrow the money, so that BTG knows the money exists. Do something to not be part of the reason this deal might fail. If this deal fails, and Greenstein's name is among the ones who are responsible for the deal failing, I can assume BG's reputation as 2+2 hero is gone. Make some effort to pay your debt. If BG doesnt want to pay it directly for the aforementioned reasons, escrowing the money would be a great first step. It would also put some pressure on the others who owe money to FTP.
i can't answer for BG. i was just trying to provide a possible reason as to "why BG fails to mention non-US players."
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Old 02-03-2012, 04:10 PM   #600
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Re: Response regarding money I owe to Full Tilt

Imo Barry shouldn't pay anything to a company on verge of bankruptcy or to a investment group that might not get the company. When the deal goes through or bust then Barry should make his choice where to and how to pay the money.
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