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Phenoms going under (1 Viewer)

BRONG said:
Has anyone got any emails from Mike? I got that one from his attorney and am just wondering if there's been anything else since. Should hear from him soon because most leagues are done now.
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This was the canned response I received from mike in response to my inquiry yesterday:

All payouts will be resolved through the bankruptcy court process. You should be on the lookout for official notice in the coming weeks so that you can file a claim. I cant estimate the amount that youll receive or when youll receive it - that will be determined by the bankruptcy process. Im really sorry things turned out this way.

Mike

 
robcards said:
BRONG said:
Has anyone got any emails from Mike? I got that one from his attorney and am just wondering if there's been anything else since. Should hear from him soon because most leagues are done now.
Click to expand...
This was the canned response I received from mike in response to my inquiry yesterday:

All payouts will be resolved through the bankruptcy court process. You should be on the lookout for official notice in the coming weeks so that you can file a claim. I cant estimate the amount that youll receive or when youll receive it - that will be determined by the bankruptcy process. Im really sorry things turned out this way.

Mike
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Know what else will be determined in the court process, Mike? Whether or not you have a new bunkmate for the next 3 years.

 
Has anyone actually asked Mike for his lawyer's name and gotten a response? Besides "phenomslegalicantbelievetheyrebuyingthis@gmail.com"?

 
I want my $710.

And even more I want to find another site that has similar formats to Phenoms so I can look forward to playing next year. But it seems no such site exists.

 
Raider Nation said:
Raider Nation said:
BassNBrew said:
The thief err I mean poor business man with the best of intentions had time after feverishly trying to sell the company to set his lineup this week.

http://www8.myfantasyleague.com/2014/live_scoring?L=33199&W=16&FRANCHISES=0012_0015
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He just needs about 10 points from Demaryius to make it a VERY Merry Christmas!
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HE WINS! HE WINS!!! :lmao:
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Score one for the atheists.(So much for karma)

 
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Does anybody have the cached page where it says all money is held in a Wells Fargo account etc etc? I clicked the link earlier in the thread and it sent me to a cache from dec 19 when it was already gone

 
robcards said:
Does anybody have the cached page where it says all money is held in a Wells Fargo account etc etc? I clicked the link earlier in the thread and it sent me to a cache from dec 19 when it was already gone
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Try finding it with the wayback machine. Might luck out

 
ITT- Anybody got a link to the next website thats gonna rip everybody off?

Stop sending money to strangers with no legitimate corporate backers.

 
Sale of a company assumes some tangible assets. The only value commodity wise is Mike's email list and his now shot reputation. No one is going to buy in to taking on all of Mike's debts, to his clients and to his software developer, on the notion that the ex-Phenoms database will be loyal to its new ownership. There's no more trust left save for a few gullible types. Rescuing Phenoms is a lost cause hypothetically. Bankruptcy story is a front to try and weasel out of civil damages that are sure to follow. No cash infusion is coming.

 
Raiderfan32904 said:
Sale of a company assumes some tangible assets. The only value commodity wise is Mike's email list and his now shot reputation. No one is going to buy in to taking on all of Mike's debts, to his clients and to his software developer, on the notion that the ex-Phenoms database will be loyal to its new ownership. There's no more trust left save for a few gullible types. Rescuing Phenoms is a lost cause hypothetically. Bankruptcy story is a front to try and weasel out of civil damages that are sure to follow. No cash infusion is coming.
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I totally agree and said as much pages back, I was just saying that kind of stuff is possible in Bankruptcy.

 
Is there any way we can search to see if Phenom Enterprises has made any bankruptcy claims? I feel like this information should be public and accessible somewhere. We should be receiving correspondence from a lawyer, not Mike, if what he's saying has any truth to it.

 
robcards said:
Is there any way we can search to see if Phenom Enterprises has made any bankruptcy claims? I feel like this information should be public and accessible somewhere. We should be receiving correspondence from a lawyer, not Mike, if what he's saying has any truth to it.
Click to expand...
From the wording of his statement and searching the Utah bankruptcy courts page, I'd guess he has not filed yet.

 
Raiderfan32904 said:
Sale of a company assumes some tangible assets. The only value commodity wise is Mike's email list and his now shot reputation. No one is going to buy in to taking on all of Mike's debts, to his clients and to his software developer, on the notion that the ex-Phenoms database will be loyal to its new ownership. There's no more trust left save for a few gullible types. Rescuing Phenoms is a lost cause hypothetically. Bankruptcy story is a front to try and weasel out of civil damages that are sure to follow. No cash infusion is coming.
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:goodposting:

''Interested buyer'' claim was a joke. It's a load of bologna. This company is worth nothing at this point. All it had was loyalty.

 
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Max Power said:
robcards said:
Is there any way we can search to see if Phenom Enterprises has made any bankruptcy claims? I feel like this information should be public and accessible somewhere. We should be receiving correspondence from a lawyer, not Mike, if what he's saying has any truth to it.
Click to expand...
From the wording of his statement and searching the Utah bankruptcy courts page, I'd guess he has not filed yet.
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He's, uh, got uh, four more lawyers working on the case. He's got 'em working in shifts.

 
cstu said:
Max Power said:
robcards said:
Is there any way we can search to see if Phenom Enterprises has made any bankruptcy claims? I feel like this information should be public and accessible somewhere. We should be receiving correspondence from a lawyer, not Mike, if what he's saying has any truth to it.
Click to expand...
From the wording of his statement and searching the Utah bankruptcy courts page, I'd guess he has not filed yet.
Click to expand...
He's, uh, got uh, four more lawyers working on the case. He's got 'em working in shifts.
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Mike peed on my rug, man.

 
comfortably numb said:
Limp Ditka said:
If a little bit of iPublic ridicule can help just one person from making the same mistake down the road, my work here will be all worth it.
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Just poor form to kick a man while he is down and just learned of being taken...but go on with your sincere genuine interest in helping others.
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"Being taken"? He spent money that wasn't his, namely the league fees.

 
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cjv123 said:
comfortably numb said:
Limp Ditka said:
If a little bit of iPublic ridicule can help just one person from making the same mistake down the road, my work here will be all worth it.
Click to expand...
Just poor form to kick a man while he is down and just learned of being taken...but go on with your sincere genuine interest in helping others.
Click to expand...
"Being taken"? He spent money that wasn't his, namely the league fees.
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comfortably numb is right. The people who played in leagues commished by Phenoms were taken. The money they spent on league fees was generally theirs to spend.

 
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Maurile Tremblay said:
cjv123 said:
comfortably numb said:
Limp Ditka said:
If a little bit of iPublic ridicule can help just one person from making the same mistake down the road, my work here will be all worth it.
Click to expand...
Just poor form to kick a man while he is down and just learned of being taken...but go on with your sincere genuine interest in helping others.
Click to expand...
"Being taken"? He spent money that wasn't his, namely the league fees.
Click to expand...
comfortably numb is right. The people who played in leagues commished by Phenoms were taken. The money they spent on league fees was generally theirs to spend.
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I misunderstood who he was saying was being taken. Yes, of course.

 
hamhocs said:
robcards said:
BRONG said:
Has anyone got any emails from Mike? I got that one from his attorney and am just wondering if there's been anything else since. Should hear from him soon because most leagues are done now.
Click to expand...
This was the canned response I received from mike in response to my inquiry yesterday:

All payouts will be resolved through the bankruptcy court process. You should be on the lookout for official notice in the coming weeks so that you can file a claim. I cant estimate the amount that youll receive or when youll receive it - that will be determined by the bankruptcy process. Im really sorry things turned out this way.

Mike
Click to expand...
Know what else will be determined in the court process, Mike? Whether or not you have a new bunkmate for the next 3 years.
Click to expand...
I know alot of guys have raised this point about criminal activity and going to jail, but there is no evidence right now that he stole the money v. he was a moron with the $. We all want to believe it, but we are speculating. I feel the same way as you, but as it looks to me right now that going to jail just isn't going to happen.

 
buck naked said:
hamhocs said:
robcards said:
BRONG said:
Has anyone got any emails from Mike? I got that one from his attorney and am just wondering if there's been anything else since. Should hear from him soon because most leagues are done now.
Click to expand...
This was the canned response I received from mike in response to my inquiry yesterday:

All payouts will be resolved through the bankruptcy court process. You should be on the lookout for official notice in the coming weeks so that you can file a claim. I cant estimate the amount that youll receive or when youll receive it - that will be determined by the bankruptcy process. Im really sorry things turned out this way.

Mike
Click to expand...
Know what else will be determined in the court process, Mike? Whether or not you have a new bunkmate for the next 3 years.
Click to expand...
I know alot of guys have raised this point about criminal activity and going to jail, but there is no evidence right now that he stole the money v. he was a moron with the $. We all want to believe it, but we are speculating. I feel the same way as you, but as it looks to me right now that going to jail just isn't going to happen.
Click to expand...
If you take money that isn't yours and spend it, then that is fraud or at worst, theft by deception. Either can land you in jail.

 
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He spent from the pool of fees allocated for payouts. This is a crime. It's illegal to run a Ponzi scheme and if he was planning to make payouts from next season's fees then this would also be illegal. Mike will soon be running the Fantasy Male Porn league from prison.

 
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buck naked said:
I know alot of guys have raised this point about criminal activity and going to jail, but there is no evidence right now that he stole the money v. he was a moron with the $. We all want to believe it, but we are speculating. I feel the same way as you, but as it looks to me right now that going to jail just isn't going to happen.
Click to expand...
He's not going to jail yet because he hasn't been charged with anything. Until law enforcement investigates and charges him with something then no one is ever going to know whether he stole money.

What we know so far is that Mike and the money are gone, the web developer he claims to have paid has not been named, his unnamed lawyer uses a

Gmail account, and no bankruptcy has been filed.

 
JohnnyU said:
buck naked said:
hamhocs said:
robcards said:
BRONG said:
Has anyone got any emails from Mike? I got that one from his attorney and am just wondering if there's been anything else since. Should hear from him soon because most leagues are done now.
Click to expand...
This was the canned response I received from mike in response to my inquiry yesterday:

All payouts will be resolved through the bankruptcy court process. You should be on the lookout for official notice in the coming weeks so that you can file a claim. I cant estimate the amount that youll receive or when youll receive it - that will be determined by the bankruptcy process. Im really sorry things turned out this way.

Mike
Click to expand...
Know what else will be determined in the court process, Mike? Whether or not you have a new bunkmate for the next 3 years.
Click to expand...
I know alot of guys have raised this point about criminal activity and going to jail, but there is no evidence right now that he stole the money v. he was a moron with the $. We all want to believe it, but we are speculating. I feel the same way as you, but as it looks to me right now that going to jail just isn't going to happen.
Click to expand...
If you take money that isn't yours and spend it, then that is fraud or at worst, theft by deception. Either can land you in jail.
Click to expand...
Or Disneyland.

 
GreenNGold said:
Capella said:
cstu said:
Soaring Eagle said:
how much of a percentage will the bankruptcy lawyers take?
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What bankruptcy?
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What money?I love that people think there is still money out there that they might get back.
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I love how people know there isn't. No one knows yet.
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If this was anything but theft then Mike would not have disappeared. There's only a three year statute of limitations for fraud in Utah and he's hoping to have you guys drag your feet, lose interest, and allow him to live the rest of his life a free man.

 
I don't do criminal law, but I think I know enough to know that any potential criminal liability here seems like a rather complicated issue.

Zangrilli might have "stolen" the money in a casual, colloquial, informal, metaphorical sense. But he didn't literally steal it.

Stealing is taking money without permission. People voluntarily authorized payments to Phenoms. No theft involved there.

If Zangrilli didn't steal anything, what did he do? He breached his promise to pay out prizes. That unquestionably gives rise to civil liability. But breaches of contract are typically not criminal matters.

Maybe there was criminal fraud involved? Yes, maybe. This is where I have no expertise, and no real opinion. But I think it's a lot more complicated than some people are assuming.

 
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cjv123 said:
He spent from the pool of fees allocated for payouts. This is a crime. It's illegal to run a Ponzi scheme and if he was planning to make payouts from next season's fees then this would also be illegal. Mike will soon be running the Fantasy Male Porn league from prison.
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Yeah right... he probably already opened up another account under a different name and started trawling for his next cornerstone Owners.

Unregulated means unregulated... expect the rip-offs to continue (maybe even increase).

P.T. Barnum is credited with coining the phrase, "There's a sucker born every minute." Imagine if P.T. Barnum had internet access.

 
http://www.fbi.gov/charlotte/press-releases/2010/ch080910.htm

Concert Promoter Sentenced for Fraud

U.S. Attorney’s Office August 09, 2010
  • Eastern District of North Carolina (919) 856-4530

GREENVILLE—United States Attorney George E.B. Holding announced that in federal court today United States District Judge Malcolm J. Howard sentenced JOHN BURTON VICK, JR., 37, of Edenton, North Carolina, to 30 months’ imprisonment followed by three years supervised release. Additionally, the Court ordered restitution of $919,766.00.

A Criminal Information was filed on February 23, 2010. On April 12, 2010, VICK pled guilty to wire fraud, in violation of Title 18, United States Code, Section 1343.

According to the Criminal Information and statements made during the arraignment and sentencing hearings, VICK, used his concert promotion business to defraud the Danville Harvest Jubilee, a non-profit organization, as well as several investors, including investors in California and Wyoming. With regard to the Danville Harvest Jubilee, VICK promised to put on a concert featuring Big and Rich in the summer of 2009 in Danville, Virginia. The Danville Harvest Jubilee wired VICK $75,000 and later an additional $10,000, which he promised to use as an artist deposit and to put the money in escrow. In direct contradiction to this promise, VICK used the money to pay off an unrelated loan. He did not even have an escrow account. Later, VICK faxed a fictitious document purporting to be an offer for the concert. VICK eventually admitted that there were no contracts or offers for any concert in Danville. The concert never occurred and the Danville Harvest Jubilee was never repaid. VICK also defrauded investors from Wyoming and California with promises that he would use investments of $25,000 or multiples of $25,000 for concert-related expenses, returning the money of the investors and paying the investors a fee once the concert was completed. In reality, VICK used the money for salaries to himself and others, for past debts, and for other expenses unrelated to the promised concerts. VICK failed to put on several promised concerts, including multiple concerts by Tracey Lawrence, instead making numerous false statements to investors about his use of their money, his efforts to put on the concerts, and the reasons why the concerts did not occur. VICK’s fraud resulted in losses to investors and the Danville Harvest Jubilee of over $900,000.

Victims from Wyoming and California traveled to Greenville, North Carolin to speak with the court about their losses.

Investigation of this case was conducted by the Federal Bureau of Investigation. Assistant United States Attorney David Bragdon represented the government.

To me the best method for people to collect their money is to contact the FBI, Utah consumer protection and whatever government agency has jurisdiction. Let them determine if criminal activity has occurred. They have the resources to investigate and follow through if prosecution is warranted. The more people who file complaints, the more likely it is that they will take action.
 
BRONG said:
Capella said:
cstu said:
Soaring Eagle said:
how much of a percentage will the bankruptcy lawyers take?
Click to expand...
What bankruptcy?
Click to expand...
What money?

I love that people think there is still money out there that they might get back.
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Did you even read the thread/emails? Zangrilli said up to 40% is still out there, once they clear things up. Get a clue.
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He also said at the beginning there would be a 16 week season and winning owners would be paid. Get a clue, he lies.

 
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