WCOFF bankruptcy

[Greg Ambrosius]

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.

[Team Legacy]

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

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

[Erok]

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]

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.

[Greg Ambrosius]

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.

[KenGill]

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.

[BLACKHAND]

that is why on the back of my money it says " in greg and tom we trust "