R.I.P. WCOFF

KenGill · Post by **KenGill** » Wed Nov 09, 2011 9:52 am

Sounds like things are happening, I really have a good feeling that some (not all) of the money is going to be recovered. Makes no difference to me personally -- just wanted to see these guys pay, after the AFFL and others just rode off into the sunset. The money taken by the WCOFF didn't all vaporize. If it's sitting in bank accounts, they can freeze the bank accounts. They can do what they need to do.

Shrink Attack · Post by **Shrink Attack** » Wed Nov 09, 2011 11:37 am

People deserve to get their money back, and I hope it happens.

I worry a little bit that these highly fraudulent incidents will eventually catch the eye of the mass media, then legislators, and then of course the result might be regulation that we'd all despise.

Riverdog · Post by **Riverdog** » Wed Nov 09, 2011 12:17 pm

I do not feel optomistic. I think the $ is gone. Some 3rd invisible investor took it and declared bankruptsy or something. Its all rumors but I feel no confidence about getting paid anymore....

BillyWaz · Post by **BillyWaz** » Wed Nov 09, 2011 12:54 pm

Originally posted by Bald is Beautiful:
quote:Originally posted by Riverdog:
I just got a phone call from attourney general office in Missouri asking me about the $ owed to me and a few other questions. She said they are actively investigating this.... Its about time! [/QUOTE]Yea, seriously!

I bet if you would of called the law offices of Haan, Haan, and Haan you would of had a response and your money in the SAME DAY!!

The Franchise · Post by **The Franchise** » Wed Nov 09, 2011 1:24 pm

Originally posted by Riverdog:
I do not feel optomistic. I think the $ is gone. Some 3rd invisible investor took it and declared bankruptsy or something. Its all rumors but I feel no confidence about getting paid anymore.... They haven't claimed bankruptcy..................yet

bald is beautiful · Post by **bald is beautiful** » Wed Nov 09, 2011 1:57 pm

Originally posted by BillyWaz:
quote:Originally posted by Bald is Beautiful:
quote:Originally posted by Riverdog:
I just got a phone call from attourney general office in Missouri asking me about the $ owed to me and a few other questions. She said they are actively investigating this.... Its about time! [/QUOTE]Yea, seriously!

I bet if you would of called the law offices of Haan, Haan, and Haan you would of had a response and your money in the SAME DAY!! [/QUOTE]While I appreciate your post, I have talked with a few of the guys about their issues. I've also talked with Chris banks a couple times and offered my thoughts. I wish I could offer great advice and help for all those who got screwed.

abruski17 · Post by **abruski17** » Wed Nov 09, 2011 2:00 pm

The lawyers are combing through ways to pierce the corporate shield to attack personal assets. It's doubtful those ass clowns had insurance, but that would be attacked too. Then the partners that did business with them would also be scrutinized. Basically, anybody that knew they were running a ponzi scheme while they did business with them would be on the hook, too. So the lawyers have a slam dunk case, but tracking the money is the hard part. It'll be found, it'll just take billable hours.

But honestly, having met those guys, is anybody surprised they were con men? They wreaked of used cars and snake oil. Their live events had people threatening to throw things at them and they ripped people off at every turn. Zero percent surprised they stole from all those people.

Jersey Dawg · Post by **Jersey Dawg** » Thu Nov 10, 2011 5:46 am

I doubt any money is left anywhere. Ponzi Scheme or simply bad management, the money is gone. My best guess is they spent money trying to grow the business while taking CEO/CFO type salaries, flying first class to/from Vegas and living well above their heads. Those celebrities did not come cheaply either. They really lived it up until the last dollar was spent...

Pete

thegambler · Post by **thegambler** » Thu Nov 10, 2011 6:06 am

Originally posted by Jersey Dawg:
I doubt any money is left anywhere. Ponzi Scheme or simply bad management, the money is gone. My best guess is they spent money trying to grow the business while taking CEO/CFO type salaries, flying first class to/from Vegas and living well above their heads. Those celebrities did not come cheaply either. They really lived it up until the last dollar was spent...

Pete i have the same thinking as pete....

i really don't think they went out to defraud people and ruin their own lives as well. i think they tried to make the wcoff something like the world series of poker. they spent way too much money on stupid things like having celebrity leagues and randy moss interviews. add in the huge, gigantic, failure of the fantasy baseball league and their fate was sealed and so was ours

[ November 10, 2011, 12:07 PM: Message edited by: thegambler ]

KenGill · Post by **KenGill** » Thu Nov 10, 2011 10:39 pm

Bad management will eventually ruin any good business.