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StGilmore
Straight Flush


Joined: 12 May 2010
Posts: 3061
Location: nil fhios agam

PostPosted: Wed Sep 21, 2011 11:06 pm
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ty
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"I find it's best to start the day with no composure and then you've got nothing to lose." B. Boatman

http://midlifepoker.blogspot.com/
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The Mob
Site Admin


Joined: 12 Sep 2003
Posts: 4498

PostPosted: Thu Sep 22, 2011 7:55 am
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Karabiner1 wrote:
When The Mob were playing on FTP was everything on extended credit which was carried over indefinitely or were these losses deducted from affilliate payments?

If not how were The Mob's $125K+ losses which show up on sharkscope covered?

If these losses were not covered out of earnings surely there should be some responsibility to pay at least this amount back into a fund to reimburse the players who appear to have been swindled.


We have already given statements regarding our positions.

To clarify for you

The Hendon Mob company and the Hendon Mob as individuals were not shareholders in any Full Tilt Poker company or associated company.

Any losses from play on FTP by the Mob were covered by the individual themselves.

Affiliate payments were used for the running of THM Ltd and website.

THM Ltd and The Mob do not owe money to FTP.

THM Ltd and the Mob themselves all have money on their FT accounts that is inaccessible now just like many other players and the Mob are owed money from FTP.
Nem
Royal Flush


Joined: 26 Apr 2005
Posts: 17557

The Reverend
In Rhythm


Joined: 27 Aug 2004
Posts: 6193
Location: In Rhythm

PostPosted: Thu Sep 22, 2011 11:29 am
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Props to durrrr, well said, shame he didn't mention that it all started when the FTP got ripped off for $100+ millions dollars by a payment processor, who they were using because of the Safe Port Act nonsense, and when FTP reported them, the DoJ then cut a deal with the processor to screw FTP over further.

Very interesting news about the potential investor!!
Alex B
Straight Flush


Joined: 25 Apr 2005
Posts: 2856
Location: London

PostPosted: Thu Sep 22, 2011 1:15 pm
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reevio wrote:
While not excusing the dodgy business practices at the heart of Full Tilt, I do find it hard to sympathise with players who have lost significant sums of money.

1) US players knew that FT was running in breach of the UIGEA and could be acted against at any time. Therefore leaving any significant sum on the site was always going to be a calculated risk.


AFAIK it is still not known whether FTP was in breach of UIGEA, so they couldn't have known at the time - "Unlawful Internet Gaming" is still not defined.

Possibly some of the players cashing out more regularly could have made a guess about the bank fraud?
CAIA
High Card


Joined: 26 Jul 2011
Posts: 10

PostPosted: Thu Sep 22, 2011 7:08 pm
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I read where someone asked "I wonder how long it will be before someone bashes in lederer or fergusons face". I raise to " I wonder how long it will be before either one take the fate of osama bin laden". If these allegations are true. they deserve whatever comes there way IMO.
Indestructible
Royal Flush


Joined: 21 May 2005
Posts: 15760
Location: Final Table

PostPosted: Thu Sep 22, 2011 8:45 pm
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CAIA wrote:
I read where someone asked "I wonder how long it will be before someone bashes in lederer or fergusons face". I raise to " I wonder how long it will be before either one take the fate of osama bin laden". If these allegations are true. they deserve whatever comes there way IMO.


I have found that there is so much garbage written that I am struggling to work out what is the truth, particularly about individual Pros. I am sure some of them were out of order, but will have to wait for the full facts before we know for sure which ones.
BugsBunny
Legend


Joined: 07 Apr 2007
Posts: 4301
Location: Swing trading rock star!

PostPosted: Fri Sep 23, 2011 4:39 pm
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http://www.subjectpoker.com/2011/09/d...-ftp-board-funds/

Looks like the DOJ are taking some money back from Mr Lederer and co.
mddgfc
Straight Flush


Joined: 04 Jul 2006
Posts: 3035
Location: belfast

PostPosted: Fri Sep 23, 2011 5:47 pm
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good good
Koumari Boy
Full House


Joined: 21 Nov 2003
Posts: 1015

PostPosted: Sat Sep 24, 2011 1:56 pm
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For anyone with 2 hours to spare go here and click on the pokercast tab and listen to episode 190 with Noah Stephens Davidowitz being interviewed. He is one of the main authors of Subject Poker.

It will give youa very good synopsis of what has happened at Full Tilt Poker and explain basically what and why everyhting has got to where it is today.

http://www.twoplustwo.com/
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Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Sun Sep 25, 2011 5:02 pm
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Dunno how many have you have seen this 'Inside Deal' spot on ESPN but sheds a bit more info on the current situation...

http://espn.go.com/poker/story/_/id/6...y-civil-complaint

Mr. Green
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**New** http://ukpoker-vendeep1.blogspot.com
The Reverend
In Rhythm


Joined: 27 Aug 2004
Posts: 6193
Location: In Rhythm

PostPosted: Sun Sep 25, 2011 5:10 pm
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mddgfc wrote:
good good


Not for any players who had funds on FTP. The only chance people were going to get back any significant proportion of funds, possibly all, was if FTP was allowed to get back up and running under different owners.

Seems that Phil Ivey may have cut some sort of deal with the DoJ to his own benefit, but to the detriment of everyone else; players, employees and other shareholders.
Indestructible
Royal Flush


Joined: 21 May 2005
Posts: 15760
Location: Final Table

PostPosted: Sun Sep 25, 2011 8:46 pm
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On Twitter

@HowardFLederer
I take money from hard working poker players and give it to my wealthy friends.

Laughing
CarpeAnnum
Flush


Joined: 09 Oct 2005
Posts: 617

PostPosted: Mon Sep 26, 2011 6:13 pm
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Exclusive: Full Tilt Investors Nearing Deal

http://www.pokerstrategy.com/news/wor...aring-Deal_52047/
knifeboy62
Quads


Joined: 05 Nov 2006
Posts: 1560
Location: Bristol

PostPosted: Mon Sep 26, 2011 6:24 pm
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CarpeAnnum wrote:
Exclusive: Full Tilt Investors Nearing Deal

http://www.pokerstrategy.com/news/wor...aring-Deal_52047/


I wonder if this may be one of the french investors.



submitted with due homage to the 2+2 "Cyril" saga.
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