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3 hours ago, wakelawyer said:

Does anyone know if the Trustee was able to sell the software?  Or the domain name?

He was not - those assets were abandoned, probably back to the owner. When the case was filed there was about $245k in cash. Estate costs (mostly lawyers fees) were about $100k and he's distributing about $130. A few claims were designated "priority" claims and paid in full - about $6k. The remaining general unsecured claims (all seem to be ff players) were paid just under 40%. For what its worth, it is very rare for a chapter 7 case to pay that high a dividend to general unsecured debt.

 

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I debated for a day whether I should post since I am in the industry and am not a regular here but I have read every post, theory and idea how to possibly recoup what is rightfully the members money.

Mike is reading this thread and must be amused that his "divide and conquer plan" is working so splendidly. 25 percent of the "winners" from all the prize suckers who paid in are uniting against the

Young Chuck moved to Montana and bought a horse from a farmer for $100.00. The farmer agreed to deliver the horse the next day. The next Day he drove up and said, "Sorry, Son, but I have some bad news

7 minutes ago, CletiusMaximus said:

He was not - those assets were abandoned, probably back to the owner. When the case was filed there was about $245k in cash. Estate costs (mostly lawyers fees) were about $100k and he's distributing about $165. A few claims were designated "priority" claims and paid in full - about $6k. The remaining general unsecured claims (all seem to be ff players) were paid just under 40%. For what its worth, it is very rare for a chapter 7 case to pay that high a dividend to general unsecured debt.

 

2

Agreed.  That's why I was wondering if they were able to monetize the software or IP.  It also makes you wonder if this is a situation where he could have avoided bankruptcy.

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I am in Canada and just got the documents today.  I was owed just over $500 and thought that when all the dust finally settled I would get around $50-$100 dollars.  Instead, it is just over $200.  Does this make me feel better?  Not really.  But it's all over now.  I haven't played in an online league since the incident and probably never will again.  I am just sticking to my main local league which I won this year.  I miss the Phenoms leagues though.  Mike did a good job offering various types of leagues with different rules and setups and the payouts were higher than most leagues.  He had been doing it for more than 10 years and gained a lot of people's trust.  He asked for my advice when he was setting up his very first contract keeper leagues and actually implemented some of my suggestions.  I had quite a bit of contact with him by email for several years.  So why did things end up the way they did?  We'll never know exactly and I would only be guessing. Through my correspondence with him nothing ever tipped me off that he deliberately did what he did.  My only previous winnings were small ones and I was always paid out promptly.  Unfortunately, my biggest win on Phenoms (champion + total points winner) turned out to be the year that things went sideways.

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3 hours ago, buck naked said:

No worries, Chad. I saw your name and I believe you are getting 100%. You must have been a secured creditor.

He's actually on the list twice. Once under priority claims for a full amount and once under 'general' at  39% of the total. Not sure if there are 2 Chad Parsons or what.

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10 hours ago, The Shark said:

Mike did a good job offering various types of leagues with different rules and setups and the payouts were higher than most leagues. 

What I really miss are the slow-auction-and-go leagues. As far as I know there is nothing else like it at any of the sites. 

slow-auction-and-go >>>>>>>>>>>>>>>>>>>>>>>>>>>> slow-draft-and-go

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Very happy to hear that people will be getting some money back.

Anyone still trying to rationalize what was done, or claiming that anyone who was scammed needs to apologize because this guy could end up paying 40% back, I'll lay 7 to 1 odds that you get scammed again in the future. 

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1 hour ago, Chad Parsons said:

Thanks for the update. Is there any info on the paperwork if you want to contact someone? I updated my address with the Utah court when it was at that stage a while back, but good to check up

The letter came from this guy and it's the only contact info I see anywhere on the forms.

 

Gary Jubber, Trustee

215 South State St.

Suite 1200

Salt Lake City, UT 84111

Ph: 801-531-8900

email: mparks@fabianvancott.com

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On March 30, 2017 at 3:01 AM, BoltBacker said:

What I really miss are the slow-auction-and-go leagues. As far as I know there is nothing else like it at any of the sites. 

slow-auction-and-go >>>>>>>>>>>>>>>>>>>>>>>>>>>> slow-draft-and-go

Dataforceff.com has them. They have cheap one going right now on their software and higher stakes on theirs and MFL starting after the draft. 

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Got my check in the mail today.  I'm up in Canada.  Sure glad I bothered to fill out all the paperwork despite being located in a different country.  Was only in one $100 league but won the championship and also the total points for a grand total of $553.  Check was for $215 so I'm still ahead $115 but this entire escapade still sucks.  I haven't played in an online league since this happened.  Have just stuck to my local league.

This is all over.  Case closed.

I wonder what Mike (Unlucky) is doing these days?

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  • 6 months later...
1 hour ago, joffer said:

I just met a Mike Zangrilli. How many can there be?

I know for certain his brother, Dan Zangrilli from 93.7 the Fan, is a local sports media type here in Pittsburgh. Possibly useful if looking for a family-ish pic to confirm his identity. 

 

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  • 3 months later...

This isn't going to be a thread to stalk or threaten Zangrilli or anyone else. Stop any threats or stalking type stuff now. That should be obvious but we'll say it to be clear. 

For an update, can someone that knows give us an update on how all this shook out?

Questions:

How much money was owed to people in total?

How much in total was paid out?

For getting paid, was there a formal process?

If so, anyone still in the process?

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