So barry used to/maybe still does donate his tournament winnings to charity and people think he is holding out on paying back full tilt because he doesnt want to part with the money.

He says how he is more than willing to pay back, But wants to do so in a way that will ensure his $'s goes towards paying the people back and states how he just wants to see how the DOJ case plays out before making his move.

Could have been. Probably weren't. So what?

Revenue = income, revenue =/= profit.
Net revenue = all income ever received - income given back. Hence perhaps net revenue approximates total rake collected - rakeback paid.
Profit = Net Revenue - expenses

Profit margin = Profit / Net Revenue

My WAG for profit margin is about 25%. It might have been much lower, but could not have been much higher.

Total distributions >= $440M
Profit = total distributions - current debt = approx $440M - $300M = $140M

Total revenue was probably on the order of $2B, maybe (much?) more, net revenue about maybe 2/3 total, or more. So total distributions were probably less than net revenue.

Assuming no return of capital, total distributions greater than net profit indicate improper distributions.

Given that profit < net revenue, total distributions > net revenue would indicate even larger improper distributions.

(Please note that in the above definitions and calculations, I have ignored things like retained earnings, fixed assets, depreciation, changes in capital, etc., and a bunch of other factors because they are not material to what we are talking about in the case of FTP. IOW don't take anything I said to your Accounting 101 exam.)

Barry G would have kept stum, if his name hadnt been outed!
Doesnt look too honorable to me Barry!

Just shows what an crooked shambles FTP was all along, their accountant must have been a fiction writer.
To think that most of you young guys looked up to these 'gentlemen'.
Thats the pity of this sorry episode.

Logged in for the first time since around Black Friday to speak my mind. Barry, and all the pros really, are pieces of ****. All of this has completely damaged my idea of how these pros carried themselves. I begin to see as the curtain gets pulled to expose more of their bull****. From what I can tell, they were simply using money from the players' fund to continue with their lifestyles. I really question if these pros were even still winners.

It has almost further cemented to me that the poker world is and will always be scummy. There is no way around it. When the kind of money that gets tossed around in poker, it simply gravitates scumbags to it. Barry, you owe the money. Just ****ing pay it, if you even can.

And who is he supposed to pay it to at this point exactly? A group that might buy a poker site?

I wouldn't blame PokerStars if they parted ways with Barry. The whole "Loyal", "Robin Hood of Poker" is a sham.

After the deal is completed he should pay to the new owners.
But he refuses to do that, because apparently he thinks he is above the law.
His refusal makes it easier for the other 7 to refuse as well, especially now he is taking all the heat.

If his refusal really messes up the FTP deal he is worth gold to them.
This might be another reason for his recent actions.
We should boycot PS untill he pays up.

This makes no sense, he can't refuse to do something, like pay the new owners, until there's new owners.

Here's similar scenario that might help explain BG's dilemma. Maybe its not a perfect analogy but it is close:

You borrow 400k money from a Fred who takes the money from his kids college fund to give to you. Fred dies before you can pay him back. Fred's live in girlfriend of four years comes to you and says "you should pay me that 400k now since I am basically Fred's wife and was about to sign marital papers. So I have inherited the loan. "

Do you give her the money?
Do you give it to the kids college fund?
Hold on to the money until it is determined by courts that the girlfriend is legally a wife?

Easy. The money goes to the next of kin.

The girlfriend may or not be the legally next of kin. Even if she is next of kin, the kids were the ones for whom the money was intended.

they are too busy enjoying our money... tk

It depends on the jurisdiction, but there are some pretty clear laws regarding next of kin legalities.

4k owed to me.

Approaching a year.

Statements like these are depressing.

Everyone will have a good reason not to pay the little guys.

He can refuse so many things untill there are new owners.
Even to pay back his debt upon completion of the deal.

Serious now, we should boycot PS untill he pays up.
Think about it.

Barry has cleverly come up with a way to avoid paying his debt while making it seem like he wants to. His debt is to FTP, not to customers (players) of FTP. What FTP decides to do with the money that they are repaid is none of anyone's business.

It is irrelevant Wyeth Barry's borrowing came from phantom profits, actual profits, or player's funds. It is indisputable that he owes $400k. We can argue why he didn't come out sooner and admit it, or why he didn't pay it back years ago even before BF.

The fact is that he owes the money now and needs to pay it. If I owed money to FTP, I would not pay it back to FTP as we all know they are crooks and criminals. I wouldn't pay it to Tapie, because I dont know who they are, and given the criminal pas of some of the members of THAT group, I wouldn't trust them either. And I wouldn't want to give it directly to DOJ. If the deal falls through, what happens to that money? And DOJ may use it to pay only the American players, which incompletely unfair. The money belongs to all FTP players.

If Barry wants to do the right thing, he needs to put pressure on the other players who have significant outstanding loans to FTP, and cajole them into opening an escrow acccount and deposit their repayments into such account. Technicalities of the account can be worked out, but not only a pledge needs to be made, but also his efforts to rectify this situation would go a long way in trying to redeem himself. His reputation has already een significantly damaged, but it's a matter of how one wants to deal with the crisis afterwards.

http://www.youtube.com/watch?v=rCZRqH7sRyA

Stop speculating and acting as it is the truth.

Exactly. Kept quiet about large amount of money he owes the comes out with bs reason nit to pay.

Although I don't understand what right GBT to enquire about the payment of loans when they don't yet own the company

Did the robin hood of poker become the villan? Imo do SOMETHING at least. There are thousands with $$ tied up and its looking more dire and hopeless and you can at least say or do something such as escrow actual funds not promise to pay possibly a year or more down the road when us united states players get paid. All this talk of him being a great voice for poker and admitting he borrowed money and is doing a great thing by waiting to pay usa players realize he did not make any statements, or anything before being outed. How can anyone justify this even if hes a good guy. A good guy says the day tilt shut their doors to row players and it was obv it was going down like a plaine with no wings, hey guys i got 400k off tilt, they suck for what they did, heres how im going to handle it. Not wait close to a year later and make a statement when your forced to, and say that your going to make sure we get paid.

to many people are ready to speak without thinking. You want to slam Ivey, when the you should be blasting 2 of the biggest names have pocketed more money and are harder to find the Bin Laden. I would think you would be putting more time asking if Jesus and the Professor are going to come up with the $25-$50 million that they seemed to have tucked away somewhere. I don't know the real number but I am sure it his far more than Iveys 4 Million. I am pretty sure a guy that will go out of his way to pay a debt he owed to a dead man, will make good on the money he is said to owe. Didn't Ivey just play in Aussie Millions, so he is out in the public, not hiding from all you that have claimed to have so much money stuck in Full Tilt. If you had all or most of your bankroll there then maybe you should have thought about keeping less, you can't tell me that you didn't see the day coming when the US shut you down, I mean you were cutting the IRS out so it was bound to happen. And now you are throwing the Ivey under the bus, and I would bet he is one of the main reasons you played on Tilt. So direct a bit more anger at the 2 big dogs that have not shown there faces.

Well obv everyone is beyond pissed at those 2. But here we have someone who is a regular poster that didnt fly the coop after bf. And when forced to admit it did, so although he didnt get the most $$ out from the the way he did it and they way he came about telling it is the issue to most imo. Also at least those 2 worked for the site, not that it makes them saints but b.g. wasnt even an employee, he was a stars pro.

You all realize that Durrrr is in the same situation? He owes money to FTP, about a million, and promised instead to pay the players... IN THE FUTURE.

To me this is the same situation, different presentation and different reaction. If you comminate Barry, comminate Dwan, and vice versa.

I did at the time and also feel the same towards him a promise to pay is not the same thing as $$. Either put real cash in escrow or pay in full to gbt/tilt. Dwan looked at it as a partial freeroll imo, tilt takes 5 mill years to pay then they pay and he doesnt, in the meantime his promise to pay "stands"