O
onepocketchump
Guest
Good post MacGuy. I also doubt that the IPT has any "assets" to go after in the case of litigation. The only ones I can think of are probably the tournament matches already filmed and those are probably "owned" by some other company that no one could get at in a millioin years. But, KT could be sued personally as can Deno Andrews since they have publicly made these promises to the public and thereby enticed participation therewith. Whether anything can be attached to the personal assets or holdings of either man is for the court to decide. One thing about our judical system is that federal courts can and do establish precedent (laws) each day when the existing laws or precedents don't adequately cover the situation brought before the court.
In this case, as a non-lawyer, I can see that a case can be made for international wire fraud through the acceptance of payments for a promise that cannot be upheld. One would have to prove intent to defraud however which is very unlikely in my opinion. It is very easy to say that the funds were assured but due to unforseen circumstances they are no longer and then that's that.
Barry Behrman still owes players for a few US Opens. Anybody want to take bets that this money will never be paid?
The sad truth is that there is rarely a real guarantee until an organization reaches the level of the PGA and there is more at stake than the feelings and financial well beings of a few people. Kevin could walk away from this and the only people who would be really out would be the players who invested some money and their spirit into it.
I just don't believe that Kevin is in this for the short term. I think he is trying to own pool and build a lasting brand and a legacy. I doubt that Kevin Trudeau wants his legacy to be Coral Calcium and Natural Cures. I bet he wants to be remembered as the guy who brought pool into the big time.
Steve Lipsky, if you don't believe that Kevin has any bad intentions then why did you accuse him of running a Ponzi scheme vis-a-vis the qualifiers? A Ponzi/Pyramid scheme is illegal and one does not run one without bad intentions.
The IPT is opaque. It is vague and ever-changing. Perhaps it is overly ambitious at the moment. So far though it has lived up to almost all of the short term goals that were laid out. If nothing else there has been a great influx of cash into the pro poolplayer set that far exceeds what those players have put in to the IPT. In that regard the IPT is way ahead of the game. It's a pretty crappy Ponzi scheme that pays out millions more than it takes in.
For what it's worth, I believe the FedEx check story. I also think that they handled it very, very badly. I have no idea what their options were to disburse the money at the venue in the absence of checks. Everyone seems to think it would have been as easy as going to the casino and having them front the money to Kevin personally. Perhaps it would have been but I doubt it. Anyway you look at it though it's a black eye for sure. As I said I hope it doesn't turn out badly. Until then though I am keeping my fingers crossed and my speculations positive.
John
In this case, as a non-lawyer, I can see that a case can be made for international wire fraud through the acceptance of payments for a promise that cannot be upheld. One would have to prove intent to defraud however which is very unlikely in my opinion. It is very easy to say that the funds were assured but due to unforseen circumstances they are no longer and then that's that.
Barry Behrman still owes players for a few US Opens. Anybody want to take bets that this money will never be paid?
The sad truth is that there is rarely a real guarantee until an organization reaches the level of the PGA and there is more at stake than the feelings and financial well beings of a few people. Kevin could walk away from this and the only people who would be really out would be the players who invested some money and their spirit into it.
I just don't believe that Kevin is in this for the short term. I think he is trying to own pool and build a lasting brand and a legacy. I doubt that Kevin Trudeau wants his legacy to be Coral Calcium and Natural Cures. I bet he wants to be remembered as the guy who brought pool into the big time.
Steve Lipsky, if you don't believe that Kevin has any bad intentions then why did you accuse him of running a Ponzi scheme vis-a-vis the qualifiers? A Ponzi/Pyramid scheme is illegal and one does not run one without bad intentions.
The IPT is opaque. It is vague and ever-changing. Perhaps it is overly ambitious at the moment. So far though it has lived up to almost all of the short term goals that were laid out. If nothing else there has been a great influx of cash into the pro poolplayer set that far exceeds what those players have put in to the IPT. In that regard the IPT is way ahead of the game. It's a pretty crappy Ponzi scheme that pays out millions more than it takes in.
For what it's worth, I believe the FedEx check story. I also think that they handled it very, very badly. I have no idea what their options were to disburse the money at the venue in the absence of checks. Everyone seems to think it would have been as easy as going to the casino and having them front the money to Kevin personally. Perhaps it would have been but I doubt it. Anyway you look at it though it's a black eye for sure. As I said I hope it doesn't turn out badly. Until then though I am keeping my fingers crossed and my speculations positive.
John
I think it is a GREAT offer.
