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Just to clarify - ambulance chaser attorney chase personal injury lawsuits because 1/3rd of $100,000 or $1 million can be a fast strike to big $.
Almost guaranteed. You screw around with some money and end up $20k short, you can find a short-term bailout float. A couple hundred thousand? Not so easy.
Any business could, in theory, suddenly close up shop and disappear with your money. But I don't see why a company like FanDuel is coming up in this discussion about Phenoms, though - like I said before, it seems like apples and oranges. FanDuel is a real company, with lots of funding, operating a legal, booming business out of multiple offices with 100+ employees. It's miles apart from "some guy named Mike from the Shark Pool."
Fan Duel is a huge business that can make way more money legitimately than it can by stealing a few days worth of winnings.
#1 I'm sure his paypal account is 0 right now
There won't be any criminal charges. This is a civil dispute and he will file bankruptcy on his LLC and include himself in that bankruptcy. Trying to teach Mike "a lesson" is pointless. Once he files the paperwork, it is illegal for any of his creditors to contact him. All payouts will go through his bankruptcy attorney and be approved by the bankruptcy judge.
AMEX already credited my account and now is waiting for response from "the seller" I'm calling Chase tonight. I wish I had paid everything with AMEX.
Of course, the Utah Attorney's General office is very busy prosecuting the two (2) most recent Utah Attorney's Generals for corruption: http://www.nytimes.com/2014/07/16/us/politics/two-former-attorneys-general-in-utah-are-charged-with-corruption.html?_r=0
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He's almost certainly cleared out his PayPal account and the bank account he had the money transferred to. If he pays anyone back it will be a tiny (5%) percent to avoid a lawsuit and criminal charges.
Maybe we should spread this out a bit. The investigator seems quite busy already today with Phenom calls.
He's not going to be able to pay, not through PayPal! I can guarantee this. So even if you won you are not going to get paid. Why wouldn't you file a chargeback? What do you have to lose? That $1000 league pays $5000 to the winner. If he pays 20% that is $1000 and 40% is $2000. I would rather take my chances with a card company. And if you didn't make the playoffs, hell yes you file.
Mike was not a trustee or an escrow agent. His website may have said that he kept the funds separate, but that does not mean he was legally required to do so. When money was sent to him, he had no obligation to pay the money back (beyond a moral obligation) once he puts all creditors through the bankruptcy process.
If a card company such as AMEX files a chargeback for the buyer, this is out of PayPals control. If he had a zero balance and I file a chargeback, his PayPal account will go negative. He will essentially screw over PayPal.
This is an issue of corporate gross negligence inside Mike's LLC legal shell. The corporation will dissolve and go through bankruptcy. None of you had a contract with Mike personally, so once the corporation is gone you have no recourse beyond what the bankruptcy judge shells out.
Masters payouts are atrocious. I'd rather not play than play there.
At some point this year, another option of paying directly by credit card via 'Authorize.net' was available on the deposit page. My credit card statements read 'PHENOM ENTERPRISES MURRAY' and these are the transactions I am disputing. I have little hope for retrieving the money I deposited earlier in the year via PayPal.
I had the same issues with the big-box sites you mentioned. They have bland scoring systems, sometimes lock up, and in NFL/CBS case, their graphics upgrades became too busy to look at and would give me a headache. The MFL platform isn't the best, but the live scoring is still the best I've seen. Phenoms offered a lot of the newer league structures like deep start 2 QB, 2 Def, 2 PKs, etc with bonus scoring. I came to love the formats more than anything. And I had won every year I played going back to 2008 so everything seemed to be on the up and up. Wishful thinking and like you said it's going to be one of the deals where you fool me once, shame on you, but fool me twice....I don't see myself trusting some internet site with my FF buy-ins anymore. And maybe that's a good thing.
Aquil Salahudeen (Presidential Leagues). That guy still owes me $700 winnings. I know that is peanuts compared to these big money leagues like Phenoms and AFFL, but $700 means a lot to me personally. He made off with thousands of dollars for all his leagues combined. If memory serves, about $20k.
Agree 100% with everything you said & most likely the case here. I'm the same as you re: daily/casinos. Completely different ballgames.
Yeah I left that ####### out. I was actually in one of those leagues (think PS1) and left after Year 1 because I was & am convinced him and "Alan Fern" were the same person. Got (luckily) paid by him but he really left a bad taste in my mouth. Wish I had spoke up to the rest of the league, but didn't want to make a big scene as the league had good owners.
