Quote:
Originally Posted by blueodum
It does make a difference. Let's say FTP had an operating profit, but their "loans" and disbursements to shareholders exceeded their operating profits. If so, then there can be only three possible sources for this extra money: newly invested capital, a draw down of operating capital and/or looting of the players funds. There is no indication that there was any newly invested capital. And we know that the looting of funds started at some point before Black Friday.
The crucial thing to know is when the looting of player funds started. It is at this point that FTP turned into a criminal organization.
The veteran Pro Poker world is a VERY Small World.
As soon as the "looting" at FTP started years ago...
Meaning Customer Accounts became a Huge Degen Slush Fund...
Shoveling easy-term "gambling loans" to friends of FTP...
This rapidly became Common Knowledge in that Small World.
Dozens of Big Name hustlers developed elaborate strategies...
To repeatedly back up the truck.
Today, these same Big Name hustlers...
Are all lawyered up and working on elaborate strategies...
To hang on to as much of the LOOT as possible.
How any of this surprises anyone is beyond me...
The truth is far worse than anything we already know.
For me...
The amazing thing is that no one has been killed YET...
In many criminal cultures a hit would be a formality...
There can't be anyone important with an FTP account.