WCOFF bankruptcy

Greg Ambrosius
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WCOFF bankruptcy

Post by Greg Ambrosius » Wed Jan 04, 2012 11:54 am

Originally posted by Scott Atkins:
Please see our most recent post on the FPA beta blog for an update from Chris Banks, lead attorney in the case The Players vs WCOFF.

http://www.fantasyplayersassociation.co ... 2&Itemid=4 Thanks for the update Scott. It's very informative. I thought WCOFF had to release a schedule of creditors and their amounts with 14 days of filing bankruptcy. Apparently that hasn't happened. That would be one way to get a final figure of money owed.

Tell Chris thanks and to keep providing updates like that. It's valuable for anyone who still hopes to get some payment from their 2010 winnings.
Founder, National Fantasy Football Championship & National Fantasy Baseball Championship
Twitter: @GregAmbrosius

Team Legacy
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Re: WCOFF bankruptcy

Post by Team Legacy » Thu Jul 05, 2012 11:34 am

Looks like something is going down on the 17th...

http://www.fantasyplayersassociation.co ... 6&Itemid=4
Twitter: @ScottFantasy

Erok
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Re: WCOFF bankruptcy

Post by Erok » Sat Aug 16, 2014 10:21 pm

Did all of the players owed money ever get paid from this?

What happened with Dustin if not?

I never did hear what the final word was on this all?

KenGill
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Re: WCOFF bankruptcy

Post by KenGill » Sun Aug 17, 2014 5:00 am

I'm going to make two predictions, not knowing anything.

It didn't end well for the players who were owed money.
And the owners of this scam didn't get punished.
I never lost a game. I only ran out of time. Bobby Layne
Kid....if you're going to make it in this league, you're going to have to learn to drink. Bobby Layne

Greg Ambrosius
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Re: WCOFF bankruptcy

Post by Greg Ambrosius » Sun Aug 17, 2014 8:23 am

Erok wrote:Did all of the players owed money ever get paid from this?

What happened with Dustin if not?

I never did hear what the final word was on this all?
The players did not get paid. Well north of $1 million in prize money owed to players just gone.

Nobody was ever prosecuted for bad business practices, which basically was using prize money to fund other business expenses. I believe the Attorney General did investigate this and determined it was bad business, not outright fraud. Whatever the case, the players took the hit and the owners of the WCOFF never came forward to make any amends. Thankfully, the industry has moved forward after this and this area of the market appears to have stabilized.
Founder, National Fantasy Football Championship & National Fantasy Baseball Championship
Twitter: @GregAmbrosius

KenGill
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Re: WCOFF bankruptcy

Post by KenGill » Sun Aug 17, 2014 10:27 am

I don't have a legal degree, and to borrow a line from 'Wall Street', I thank my personal God that I don't..... but I will have to disagree with the attorney general on this one. It's fraud when you take $1,000,000 of entries and don't pay it out. Or at least a good portion of it. Let's say they had paid back $600,000 of it and then closed the doors. OK, I could accept that they pissed away $400,000 of entry money with bad business decisions. But when they pay none of it back, and disappear into the night never to be heard from again--- it's fraud. And they should have had the book thrown at them.
Last edited by KenGill on Sun Aug 17, 2014 10:32 am, edited 1 time in total.
I never lost a game. I only ran out of time. Bobby Layne
Kid....if you're going to make it in this league, you're going to have to learn to drink. Bobby Layne

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BLACKHAND
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Re: WCOFF bankruptcy

Post by BLACKHAND » Sun Aug 17, 2014 10:30 am

that is why on the back of my money it says " in greg and tom we trust "
THIS IS THE BUSINESS WE HAVE CHOSEN

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