Stolen league money

[Black-Balled]

Aside from using common sense, our league does not have written procedures. And I'd bet most leagues don't. Sounds like a good idea.

Which is how a lotta small dollar businesses operate: hope it doesn't happen and if it does, deal with it.

It is understandable not to tie up too many resources in preparing for 'what-ifs'. A lot of what could happen never does happen, so why spend the money/ time preparing for it.

So many small businesses are one lawsuit away from bankruptcy...even if they prevail in Court, they can go broke doing so. Frightening, actually.

 

[trentfromtoledo]

yup

p.s. 99% of me says someone this person knew is the culprit, the other 1% tells me it was the LO who did it.

Trent from Toledo

 

[cardiac kid]

So the week before payouts, the league is informed that the >$19,000 was burglarized from the league managers house. An apology was issued, and we were told that it would be “made right”. Initial thoughts?

Based on what I know about the league manager, I don’t suspect him of stealing it. Seems like a great guy. I’m very torn on what to make of this.

easy, Know of at least four times the players of a BCA (PL) league got ripped of. Twice in Rochester and twice in Vegas. Each time the finger pointing always went away from the LO or treasurer and in another direction. Pretty sure this also happens to players in other leagues. This one is sure suspicious!!!

Lyn

 

[RiverCity]

p.s. 99% of me says someone this person knew is the culprit, the other 1% tells me it was the LO who did it.

Trent from Toledo

Im not accusing anyone of anything, but Im closer to 50/50 on that one. If he was indeed robbed, yes it was likely someone who knew him and knew the money was there. Police reports prove nothing other than one was filed. Anyone could break out a window, ransack their own house, and file a police report stating they had whatever stolen. The existence of a report itself means less than one would think.

I have however seen crap like this take place before. The last time surprised me, and I questioned it as I knew the guy I thought well enough. I was then informed he had money go missing in the past when acting as league treasurer. My question then became, if he had stolen money before, why was he allowed to be in charge of money again, to which I couldn't get a straight answer.

Hopefully it all works out and people get the money they are owed one way or the other. :thumbup:

 

[Poodle of Doom]

Which is how a lotta small dollar businesses operate: hope it doesn't happen and if it does, deal with it.

It is understandable not to tie up too many resources in preparing for 'what-ifs'. A lot of what could happen never does happen, so why spend the money/ time preparing for it.

So many small businesses are one lawsuit away from bankruptcy...even if they prevail in Court, they can go broke doing so. Frightening, actually.

A bank account, and transparency as I suggested before are all free. They require little time to set up. And could of helped avoid this whole ordeal.

 

[Black-Balled]

A bank account, and transparency as I suggested before are all free. They require little time to set up. And could of helped avoid this whole ordeal.

Nobody is saying there were no safeguards that could have helped. It is always easy to point them out after the fact.

And the accounting and statements and bank accounts are not free at all. There are both administrative and service costs that must be considered.

That said, the systems need to be set to minimize the risks.

This loss is a low frequency/ hi risk event. A business can choose to prepare for it in a multitude of ways, from hope to choke.

 

[trentfromtoledo]

Nobody is saying there were no safeguards that could have helped. It is always easy to point them out after the fact.

And the accounting and statements and bank accounts are not free at all. There are both administrative and service costs that must be considered.

That said, the systems need to be set to minimize the risks.

This loss is a low frequency/ hi risk event. A business can choose to prepare for it in a multitude of ways, from hope to choke.

My business account at my credit union is 100% free. Now the accounting part should not be to difficult. As I mentioned before: there should be some requirements of LO's to be able to pay no matter what. Lets not forget they make money and risk is part of business.

Trent from Toledo

 

[BasementDweller]

Call the police yet to inquire about the police report?

 

[j2pac]

So the week before payouts, the league is informed that the >$19,000 was burglarized from the league managers house. An apology was issued, and we were told that it would be “made right”. Initial thoughts?

Based on what I know about the league manager, I don’t suspect him of stealing it. Seems like a great guy. I’m very torn on what to make of this.

That much money should have been in a safety deposit box, a very secure safe, or tucked away in a bank account. Too much coincidence for me. Sounds like B.S. I hope I am wrong. Good luck easy.

 

[ChrisinNC]

So the week before payouts, the league is informed that the >$19,000 was burglarized from the league managers house. An apology was issued, and we were told that it would be “made right”. Initial thoughts?

Based on what I know about the league manager, I don’t suspect him of stealing it. Seems like a great guy. I’m very torn on what to make of this.

Were other items burglarized or just the cash? If just the cash, sounds like it likely may have been someone who had knowledge that he had the league's cash stashed there. You'd assume there can't be many people, if any, that he'd told that he had the cash hidden at his home, or someone who suspected that he might be keeping the cash at his home. Very unfortunate and I'm sure he feels awful about it.

 

[logical]

If my neighbor borrows my lawn mower and it gets stolen from his garage...he owes me a lawn mower. The LO was robbed (maybe), but that doesn't change what he owes the players.

Try telling your landlord that "his" rent money was stolen so you aren't going to pay him this month.

 

[Johnny Rosato]

If my neighbor borrows my lawn mower and it gets stolen from his garage...he owes me a lawn mower. The LO was robbed (maybe), but that doesn't change what he owes the players.

Try telling your landlord that "his" rent money was stolen so you aren't going to pay him this month.

Pure logic right here folks!

 

[jimmyg]

"Follow the money"...

 

[Z-Nole]

I wouldn't mind seeing people bonded. That would make sense too. However, in regards to cashing a check and taking it home, I don't know that's how it worked. I say this due to the verbiage used in what you quoted.



If is an awfully big word. Perhaps there weren't any problems? And, therefore, the need to deposit any amount of money with the BCA wasn't necessary?

Being bonded is a great idea, but seriously, what's the percentage of average pool players and LO's that can even get bonded? I'd put the over under at 3. And take the under.

 

[Z-Nole]

Just my opinion of course: LO's should have to prove they have the money to cover the loss if something like this occurs. It should be part of the requirements to be a LO. I am surprised that the leagues don't already have something like this in place to PROTECT THEIR CUSTOMERS. At the end of the day it only hurts their business when people don't get paid and I am sure many, many situations have went down...

I do feel bad for the OP and all involved. I think when dealing in large amounts of cash it should never leave your possession or sight. Having a license to carry a firearm is also probably a great idea as well. A safe is the only place that seems reasonable before it goes to the bank.

Trent from Toledo

This is called being bonded.

 

[easy-e]

Call the police yet to inquire about the police report?

I need to find out where it was filed. Lots of agencies around here, and I don’t know where he lives. I’ll keep everyone posted.

 

[easy-e]

If my neighbor borrows my lawn mower and it gets stolen from his garage...he owes me a lawn mower. The LO was robbed (maybe), but that doesn't change what he owes the players.

Try telling your landlord that "his" rent money was stolen so you aren't going to pay him this month.

I agree. Easier said than done. From my understanding, he is not a wealthy man.

 

[trentfromtoledo]

This is called being bonded.

I understand, but, will companies actually bond or insure such a business? Like I said, it seems like the leagues themselves would want to protect their business's image for new and also their existing customer's... For instance, you buy a McDonald's franchise and stop following all their rules, things probably get ugly fast. It sucks no matter which way it happened, but, I tend to agree that the LO owes all that money straight up... Being a business owner myself I try to think of the risk factors in every job I take. Just being aware is not enough, having the proper insurance and ability to pay out cash if something goes wrong is totally necessary.


Trent from Toledo

 

[Poodle of Doom]

I need to find out where it was filed. Lots of agencies around here, and I don’t know where he lives. I’ll keep everyone posted.

Maybe post a copy of the report when you find it?

Nobody is saying there were no safeguards that could have helped. It is always easy to point them out after the fact.

And the accounting and statements and bank accounts are not free at all. There are both administrative and service costs that must be considered.

That said, the systems need to be set to minimize the risks.

This loss is a low frequency/ hi risk event. A business can choose to prepare for it in a multitude of ways, from hope to choke.

Trent said exactly what I was going to. At that, I'm not pointing out something after the fact. No one stores $19,000 in their home. Most people put it in a bank. Not a suggestion. Fact.

 

[easy-e]

Maybe post a copy of te report when you find it?



Trent said exactly what I was going to. At that, I'm not pointing out something after the fact. No one stores $19,000 in their home. Most people put it in a bank. Not a suggestion. Fact.

Maybe I will.