An Open Forum For WCOFF Players

Jersey Dawg · Post by **Jersey Dawg** » Wed Aug 31, 2011 7:03 am

Gambler - They will most likely (I am not a lawyer, but I am an accountant) be protected under Chapter 11 and the fact they are an LLC. Legal action, I believe, would have to include fraud. Poor business practice is not cause for legal action.

If they return money paid by new entrants, I think (again - I am not a lawyer) that would eliminate the fraud aspect. Not paying 2010 winners due to a poor business plan or economic recession (as they will likely claim) limits creditors to their assets (after taxes and bankruptcy costs). How much do you think we will see? 5 cents on a dollar?

I'm not expecting anything in return, but still hoping someone takes over the business, pays the winners and tries to make a go of it next year under the banner "Under New Management".

Pete

Tom Kessenich · Post by **Tom Kessenich** » Wed Aug 31, 2011 7:07 am

Originally posted by Jersey Dawg:
Legal action, I believe, would have to include fraud. Poor business practice is not cause for legal action. I'm not a lawyer but I would wonder what type of legal penalty would or could be imposed if they knowingly took baseball signups (and football signups) knowing they could not pay off past prize winners. I do not know if that could legally be proven and whether it legally constitutes fraud but that would seem to me to be one of the things that would be looked at.

[ August 31, 2011, 01:08 PM: Message edited by: Tom Kessenich ]

thegambler · Post by **thegambler** » Wed Aug 31, 2011 7:20 am

Originally posted by Tom Kessenich:
quote:Originally posted by Jersey Dawg:
Legal action, I believe, would have to include fraud. Poor business practice is not cause for legal action. I'm not a lawyer but I would wonder what type of legal penalty would or could be imposed if they knowingly took baseball signups (and football signups) knowing they could not pay off past prize winners. I do not know if that could legally be proven and whether it legally constitutes fraud but that would seem to me to be one of the things that would be looked at. [/QUOTE]exactly.....they took baseball signups knowing they couldn't pay football from last year. and they took baseball money with the fatnasy baseball winner never being paid from the year before. how is this not fraud? they took money from people paying this years baseball and early football teams and paid people from last year. that is the definition of a ponzi scheme....hate that word.

now i don't think they purposely took that money with no intentions of paying....i think they took the money hoping something would happen so they could continue the wcoff. either someone bought them out or a big invester etc etc. but still i think we are pass bad businessmen and have moved to fraud.

KenGill · Post by **KenGill** » Wed Aug 31, 2011 1:28 pm

Somebody ought to go to jail for a while. Last I heard, STEALING is a crime.

Syracuse Slappers · Post by **Syracuse Slappers** » Thu Sep 01, 2011 10:46 am

WCOFF officially cancels 2011 season...just posted on the website.

Paul Gromek · Post by **Paul Gromek** » Thu Sep 01, 2011 10:54 am

"We apologize for the inconvenience this has caused our players"

all you can do is laugh I guess

particra · Post by **particra** » Thu Sep 01, 2011 10:58 am

Due to unforeseen circumstances, the World Championship of Fantasy Football has been canceled for the 2011 season. We apologize for the inconvenience this has caused our players. Please be assured we exhausted all possible options for a solution which would allow us to host this year's contest.

While the 2011 contest will not be hosted, ownership continues to work towards a successful restructuring of the business with the anticipation of returning in 2012.

Participants previously registered for the 2011 WCOFF will be receiving follow up communication with instructions for requesting refunds of entry fees paid. Additionally, communication will be forthcoming to players with award credit on account.

On behalf of the World Championship of Fantasy Football we thank our loyal supporters and look forward to returning the WCOFF to its position as the premier fantasy contest in the world in 2012.

particra · Post by **particra** » Thu Sep 01, 2011 11:00 am

I don't know what's worse, the fact that they are blaming it on "unforeseen circumstances" or the fact that they are actually MAKING PEOPLE REQUEST A REFUND FOR ENTRY FEES FOR A CONTEST THAT DOESN'T EFFING EXIST.

What a bunch of complete douchebags.

nygiantsfan · Post by **nygiantsfan** » Thu Sep 01, 2011 11:00 am

god this is sad...now that there is no season, I'd love to know what happens to the $$$ I rolled over (2000), and the cash owed to my partner out of his account (1500)...where is all that???

Sadly, this has completely ruined my passion for this hobby of ours. This was supposed to be year 4 in high stakes, and the previous years have proven to be pretty lucrative. I now have zero appetite for this game, and while I'd love to bring my high stakes gaming to another site or organization, I can't justify sinking another $2,000 into fantasy football while I have more than that sunk into my 2010 WCOFF rewards. Very sad day, but not one I didn't see coming. Maybe if I ever get paid, I'll be comfortable jumping back into this world, but even then, I'm not sure I could ever blindly trust another high stakes contest again. No offense to NFFC, from what I hear you guys run a very respectable organization, but you have to understand that that's what I thought about WCOFF 4 years ago when I dove into this arena.

[ September 01, 2011, 05:04 PM: Message edited by: nygiantsfan ]