April 15th announcement

jay helfert said:
...30% he held back from Thorsten...


Is this a fact? NYC?

But how come he withdraw 30% from Thorsten & Co? I'm sure he/they have ITIN (International Tax Payers Identification Number), so Kevin shouldn't withdraw nothing..?
 
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Marvel said:
Is this a fact? NYC?

But how come he withdraw 30% from Thorsten & Co? I'm sure he/they have ITIN (International Tax Payers Identification Number), so Kevin shouldn't withdraw nothing..?

From Thorsten's mouth! 30% was held back! His check was for $245K, not 350.
 
For a bunch of customers you guys dont have two steady feet on the ground.

When I go out and get my $0.75 dance show I put my money to work, by filling the time with all types of customer related questions.

I'm even worse at school, whether Im being a student or a teacher. If I am spending the money I will squeeze it dry to the last drop.

IPT or whoever is running that show I wouldn't have let them so much as sell a merchandise material with me in it without having a lawyer review all the paperwork. And enforce security clauses for my golden parachute.
 
justnum said:
For a bunch of customers you guys dont have two steady feet on the ground.

When I go out and get my $0.75 dance show I put my money to work, by filling the time with all types of customer related questions.

I'm even worse at school, whether Im being a student or a teacher. If I am spending the money I will squeeze it dry to the last drop.

IPT or whoever is running that show I wouldn't have let them so much as sell a merchandise material with me in it without having a lawyer review all the paperwork. And enforce security clauses for my golden parachute.

That wasn't even a option, if you don't want to play, don't play was their answer. Remember KT's now famous quote. "I will have Joe Blow playing on TV for a million dollars if they don't want to play. No one know the difference anyway" Or something very close to that, I don't feel like looking it up. He had them over a barrel and they were afraid of being left out. Once they were hooked the carrot was introduced and the rest is history.

It is real easy now looking back and say they should have done this or that but there is a saying, "If it sounds too good to be true, it probably is". But you know what, sometimes it is true. As preposterous as the whole thing seemed, what if it worked? I don't think the players have anything to be embarrassed about.
 
Irish634 said:
In simplistic terms, it looks to me like the IPT is/was nothing more than a grand "multi-level marketing" scheme. Similar to the likes of Amway way back when. Designed for one thing.... to make the people at the top, money.

Glad I didn't put in for a qualifier.

<<<<EDIT>>>>



Forgive my ignorance.... but what is a "prat?"

Probably only used over here in the UK, a prat is basically an idiot :D
 
jay helfert said:
From Thorsten's mouth! 30% was held back! His check was for $245K, not 350.


Hmmmm... ...strange... maybe that's why Marlon and Thorsten were so pale in Reno. I've heard Thorsten has ITIN (not from his mouth, but other player had had information about ITIN from Thorsten and Thorsten had answered "it took three months to get it") and the staff said clearly, that if you have ITIN, this 30% will not be cut.

IRS might be wondering where the money went..
 
Marvel said:
Hmmmm... ...strange... maybe that's why Marlon and Thorsten were so pale in Reno. I've heard Thorsten has ITIN (not from his mouth, but other player had had information about ITIN from Thorsten and Thorsten had answered "it took three months to get it") and the staff said clearly, that if you have ITIN, this 30% will not be cut.

IRS might be wondering where the money went..


At the time, Thorsten did not have an ITIN.

Initially, he and a few other "tax paying" players, chose to have the ipt hold the money until the ITIN could be obtained. After 30 days, I had a bad feeling about the prospect of getting his money and convinced him to forgo the 30% and get his money. I figured it would be easier to get some of the 30% back from the us govt after deductions, than trying to get 70% from the failed IPT.

rg
 
NYC cue dude said:
At the time, Thorsten did not have an ITIN.

Initially, he and a few other "tax paying" players, chose to have the ipt hold the money until the ITIN could be obtained. After 30 days, I had a bad feeling about the prospect of getting his money and convinced him to forgo the 30% and get his money. I figured it would be easier to get some of the 30% back from the us govt after deductions, than trying to get 70% from the failed IPT.

rg

Ok, thank's, this clears it.
 
Da Poet said:
Not being a lawyer, but someone that has dealt with serious collection issues in the State of Illinois, at the very least, a formal objection to this latest effort to renegotiate the payment schedule, ie "as cash allows" needs to be made.

Again, I'm not a lawyer, but if no one says anything before another payment is made, this latest bit of garbage might be defined as being accepted.

Maybe there are legal precidents that allow for more patience and more time, but I am not aware of them.

If it is true that one of the biggest problems was that sponsors were unwilling to get on board, I think it is obvious that it was because of the affiliation with Kevin Trudeau and certainly not the game of pool.

Personally, I was able to separate the two, but perhaps the reality is that the public was not.


Pool is a far bigger world than people like KT and such.



Ya hit the KT NAIL right on the head with your post...Next time when it pops up lets see if WE can nail it.
 
Why do I think there may be a one year Statue of Limitations on sueing in Illinois? After one year, the players may have missed the boat on taking action to get the balance of what is owed them paid. So, after September 10, it may be too late to file against Trudeau and his various enterprises. I'll bet he knows.
 
jay helfert said:
Why do I think there may be a one year Statue of Limitations on sueing in Illinois? After one year, the players may have missed the boat on taking action to get the balance of what is owed them paid. So, after September 10, it may be too late to file against Trudeau and his various enterprises. I'll bet he knows.

Hope this helps http://www.expertlaw.com/library/limitations_by_state/Illinois.html
It looks like 5 years might be the number.
 
jay helfert said:
Thanks Wayne. That appears correct for Fraud or breach of Oral contract. You think he can string the pool players along for that long. lol


Heh, I think even my patience would wither in that time..
 
KTs reputation suggests he is very good inmate knowledge of certain legal practices.

Its unfortunate an individual would turn to such a life. But it could be worse, he couldve left the country. I guess the good ole boy will preserve his comfort in this country.
 
From an earlier post, KT says every other month - would that be this month?

All players from the World Open will continue to be paid each month or every other month as cash flow allows. You will all be paid in full before the next IPT tournament.
 
LAMas said:
From an earlier post, KT says every other month - would that be this month?

All players from the World Open will continue to be paid each month or every other month as cash flow allows. You will all be paid in full before the next IPT tournament.

The critical phrase in that "promise" would be "as cash flow allows". Meaning, when he has the money, he'll pay whatever amount he deems possible. If not, you're out of luck.

Though I do believe one part of the statement: That all players will be paid in full before the next IPT tournament. Of course, I don't believe there will be another IPT tournament, ever. So I have my doubts about anyone receiving the "full amount" from the California Con-Man.
 
Its a sigh of relief to here this guy making more promises and not talking what he is going to do to dig himself out of this one.

His first few promises he came through. Second batch not so hot due to unexpected errors like the Ho deal and govt legislation. Third batch I guess one just has to give the guy a chance, he has a lot on his plate.

Consdering he has had time to release a new book, send out several emails discussing his vision and update the IPT website.
 
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