And here is KT's letter

[rackmsuckr]

Dear IPT Players,

This is to update you on player payouts for the World Open, the Ho
Casino.com acquisition, and the Masters Tournament in Chicago.

First, and most important is player payouts from the World Open. All players
will be paid within the shortest amount of time! We are in final
negotiations and planning on executing documents relating to the Ho
Interactive acquisition of the IPT. I deeply regret that the player payouts
have had to be put on hold until this acquisition has been officially
completed. I totally understand and acknowledge your frustration and
concern. Please be aware that unfortunately this was an unavoidable
situation due to many factors that are extremely complex in relation to the
enormous nature of this deal. This short-term annoyance and inconvenience is
a one-time situation. Your patience and understanding is needed and
appreciated. We are working around the clock and all weekend to finalize the
transaction. I will communicate with you again on Tuesday with what I hope
to be the announcement that the deal is done and checks are being sent out!
Please know that over 30 lawyers and accountants in the U.S., London, Hong
Kong, and several other countries are involved in this transaction. There
are over 1000 pages of contracts and documents that are being negotiated and
reviewed. Tax implications, international treaties, securities issues, and
several other factors involving publicly traded corporations etc. all are
involved and implicated in this type of business transaction. I wish it were
as easy as me paying players myself, but this is legally unacceptable at
this time. We are 100% committed to getting this done which will be best for
the long-term future of the IPT. Our goal is to complete the acquisition and
get all players paid immediately so that we can focus on the Chicago
tournament and the future. Our plans are to bring the company public in
January. Because of this hiccup and delay in paying players, I am working
out something where all players who played in IPT events will be gifted
something very special when the business goes public! Your patience will be
rewarded. Remember, I have personally invested over $10 million dollars of
my own money into this venture. I am 100% committed to its success.

Thank you all for your understanding during this time.

Sincerely,

Kevin Trudeau,
Founder, IPT

 

[cuetique]

Y-a-w-n.....

Ssdd

 

[LAMas]

Linda was correct

Linda,
This a new statement this week from the IPT as you were told would happen. Lets prepare for the minefield to follow. I'm glad your still posting and haven't given up in the face of such abuse. Most of us hope that you will be vindicated.

 

[dynamite]

the tour will grow!!!!!!!!!!!!!!! people should learn to look at the positive things the ipt as done ! and show a bit of faith!!

 

[ribdoner]

Still looking for a major announcement.

KT's letter says NOTHING....it's purpose is to stall and keep the believers believing

 

[Tim-n-NM]

I'm buying stock...

 

[Robroy]

This letter was addressed to IPT Players. No reason to bring it here for abuse and scrutiny. IF or IF NOT the e-mail produces what it says then have at it. Just adding fuel to the fire.............doesn't make much sence.
Pool is suffering once again, I wonder if the game will ever catch a break?
One thing is true the man put his money up.............seems like the pool players would say "sucker" by now..............not scam artist. He is guilty of believing in the dream too.
It is hard to "believe" after reading all these posts...........but wouldn't it be a trip! How STRONG if something really happened good for Pool.
Sometimes to just dream is so much nicer than the nightmare thoughts.
I would love for Rodney to get his $$$$$$$$$$ I would love for everyone to get their small piece of the pie..........I choose to just hope. And when it is all said and done, I enjoyed the feelings of the ride.

 

[jimmyg]

One thing is true the man put his money up.............seems like the pool players would say "sucker" by now..............not scam artist. He is guilty of believing in the dream too.

That is the "secret" of every successful salesperson, anyone who ever beat a polygraph (lie detector) test, and especially every smiling con man.

How can you expect anyone else to believe you, if you don't believe it yourself?
Jimmy

 

[Da Poet]

Legally unacceptable?

How funny! That's the first time I ever heard that one before!

Hey everybody let's celebrate! Drinks on KT!

Just go ahead and rack up the largest tab you can and when it's time to settle up, just tell the bartender, "I'm sorry, but it's legally unacceptable for me to pay you at this time."


Edit-

Okay, seriously, if he wants to take credit for all the good he's done, he's got to take responsibility for the mistakes. Yes there are some obviously encouraging things here, but he, or the company he founded, hasn't assumed responsibility for the delay. Quite the opposite. Some could look at this as an attempt to renegotiate the payment terms.

"I deeply regret that the player payouts have had to be put on hold until this acquisition has been officially completed."


So what the first statement means to me is that he has no intention of paying the players in the near term until this aquisition becomes "official" which by no means could ever have been a condition of the payment agreement between the players and the IPT before the tournament took place.

Furthermore, he goes on to say,

"I wish it were as easy as me paying players myself, but this is legally unacceptable at this time."

To me he is simply denying personal responsibility for the debt, which is both arguable and irrelevant anyways. I see nothing reassuring in this statement, so why make it.


Oh well, whatever. It's a mixed bag. The good news is that he hasn't said the players won't get paid, the bad news in my opinion is he's added a couple unacceptable conditions to the payment. With three million bucks on the line, I'm sure there are more than a few lawyers that already have a copy of this in their Email.


For the life on me I cannot figure out what he has to lose by saying, look, I'm sorry this thing got a little trickier than I expected, and I apologize for the delay. The prize money will be awarded as soon as possible, meantime, the amounts owed will acrue at a 10% annual rate starting from the final day of the tournament. To date, he would owe an additional $30,000. That shouldn't be the end of the world for the IPT to pay. From a PR standpoint for the future of the IPT, it would be exactly the right thing to do. The IPT could turn this into a positive. We made a mistake, but we continue to try to represent the players interest whenever possible.

I have no idea what this "gift" for everyone's patience is that he's talking about, but why be so kryptic? Why keep playing with everyone's expectations? It can only make people more suspicious. All he's got to do is put the cash in the players pockets and move forward.

Aye chihuahua.

Let's get this friggin' show on the road!

 

[Robroy]

That is the "secret" of every successful salesperson, anyone who ever beat a polygraph (lie detector) test, and especially every smiling con man.

How can you expect anyone else to believe you, if you don't believe it yourself?
Jimmy

I personally think he did, therefore the "he is guilty of believing"

 

[Robroy]

That is the "secret" of every successful salesperson, anyone who ever beat a polygraph (lie detector) test, and especially every smiling con man.

How can you expect anyone else to believe you, if you don't believe it yourself?
Jimmy

Sorry for the double post

 

[Russ Chewning]

One thing is true the man put his money up.............

Just playing the devil's advocate... But you know this how? Just because he says so? He also says in infomercials that modern drugs take a back seat to "Natural Cures" in curing cancer, growing hair, etc, etc, ad nauseum.

There are lots of ways for him to have gotten money together to pay prize funds that have been paid so far. There are rumors that Mike Sigel was not really paid anything.. yet, for his part in the King of the Hill match. It could all be marketing, with Mike Sigel to be paid his fee when and IF the IPT goes public.

I'm not saying the players won't get paid for Reno, but I have my doubts. All that really remains is a proven conman with a criminal record is in charge of big time men's pool right now. He "may or may not have" invested any of his own money in it. I'm not going to believe that part just because he says so.

What we DO know is that he lied multiple times in saying that the checks were in the mail, when they were not in the mail. He....is....a.....liar. If you give him ANY benefit of the doubt, you are deluding yourself.

I really don't get what is so complicated. He is a conman who sells placebo pills as cancer and baldness cures, and assorted other snake oils. If that were not bad enough, he has lied to our professional players, then left them hanging for an entire month. And you say we should be POSITIVE about some letter from this slimeball? Did you miss the part where he has a history of lying? It would be one thing if he said the checks should be going out next week once we "seal the deal" with Ho. But he didn't.. He SAID THE CHECKS WERE ALREADY IN THE MAIL.

Russ

 

[chiefseabee]

optimistic

I would think that people would be more optimistic. I don't want to wait for another tour to start up. that's all we ever do. wait for another tour. well we got one. want to keep it? this ridiculous slamming for some late checks is very negative advertising to a general public that I would like to see start playing a game I really enjoy!!!! Let's be patient and barbaque his but after(I hope not) the tour fails, not while it is still here.

 

[Russ Chewning]

I would think that people would be more optimistic. I don't want to wait for another tour to start up. that's all we ever do. wait for another tour. well we got one. want to keep it? this ridiculous slamming for some late checks is very negative advertising to a general public that I would like to see start playing a game I really enjoy!!!! Let's be patient and barbaque his but after(I hope not) the tour fails, not while it is still here.

Okay.. I'll try to be patient and explain it real S.L.O.W.. I have to explain it S.L.O.W. because I have already explained it a few times, and people ignore my point.

He is not getting "slammed" so much for late checks. He is getting slammed because he lied about checks being in the mail, when they in fact, were NOT in the mail. And, he is also getting slammed for showing total disrespect to the players by not communicating with them. Given his history of conning desperate, sick people into buying placebo pills and books based on placebo cures, you would think all you "positive" folks would understand our pessimism on his intentions.

You call it optimism. In this particular case, I call it self delusion.

Russ

 

[jjinfla]

See I told you Kevin was good.

Everybody will recieve the straight skinny on Tuesday, October 17, 2006.

A day that will long be remembered.

Everyone can rest easy for the next 4 days.

And let the 30 lawyers do their work. 30 lawyers? How are you going to get 30 lawyers to agree on anything?

Oh well, if it doesn't work out then at least he can always say he tried.

Everyone now must pray to the pool god.

I imagine Bernie received this same letter and that is why he has been so happy lately.

Everybody will sleep better tonight and dream of greater things to happen in Chicago.

Jake

 

[chiefseabee]

O.K. I'll be patient and explain in simple terms. It's what we got NOW. Something or Nothing. I prefer to defend or support what is possible and what might work with calm patience and keep'n my fingers crossed. Do you have any idea how many people read this that are just starting the Game .... well I don't either but my point is a lot a them I'm sure, considering these can be read for quite some time. these potential recruits will see all of the negatives.


AL

 

[Marvel]

I would think that people would be more optimistic. I don't want to wait for another tour to start up. that's all we ever do. wait for another tour. well we got one. want to keep it? this ridiculous slamming for some late checks is very negative advertising to a general public that I would like to see start playing a game I really enjoy!!!! Let's be patient and barbaque his but after(I hope not) the tour fails, not while it is still here.

That's it!

 

[Marvel]

O.K. I'll be patient and explain in simple terms. It's what we got NOW. Something or Nothing. I prefer to defend or support what is possible and what might work with calm patience and keep'n my fingers crossed. Do you have any idea how many people read this that are just starting the Game .... well I don't either but my point is a lot a them I'm sure, considering these can be read for quite some time. these potential recruits will see all of the negatives.


AL

Yep! That's it again.

 

[Russ Chewning]

O.K. I'll be patient and explain in simple terms. It's what we got NOW. Something or Nothing. AL

Ahhhhhh.. Gotcha!! I should have tried harder to understand..

Hmmmmm......

Uhhhhhhhhh.......

Nope.. I still don't get it. What DO we have NOW? A guy who is not paying pros for a professional event, but is still selling videos, merchandise, and online streaming of the matches... Has lied multiple times about when the money was coming. And now says it is legally not possible for him to pay what he owes. Oh yeah.. We also have someone who said his tour would not interfere with major events with a history, yet he schedules an event for the same time as the U.S. Open. U.S. Open has to be rescheduled.. The rescheduling does not allow some of the big name pros to make the U.S. Open. Therefore, we do not have a full field for the U.S. Open.

Oh.. My bad.. You think that the money that the top 20 or so finishers in the first tourney somehow made up for the damage that KT brought to pro pool in America? Because it's AWLLLL about the money that just a few people make, right? It's not about the prestige and history of an event like the U.S. Open, right?

If his tournaments come with this kind of drama.. And they damage other, longer running tours, then I am not sure it is worth it, especially since he is a conman who might fold up shop at any moment.

Russ

 

[cuetique]

What we've "got now" is yet another sunshine-and-songbirds missive from a known con-artist.....and NO CASH. It was not the "very positive announcement" he promised in his email to Linda earlier in the week, it was just another hollow deflection.

THERE IS NO LEGITIMATE REASON TO HAVE NOT PAID BY NOW.

His condescending ramble about the complexities of mergers of this grand magnitude is pure hog manure. It's self-agrandizing twaddle, pure and simple. If you still believe it, if you still hold a desperate thread of hope this will all turn out rosy, you're in for a major disappointment. This thing is the walking dead.