Haha...tomorrow? What is that and since when is a pool player concerned with it?!?!
Lol, indeed.
Stolen league money
- Thread starter easy-e
- Start date
Haha...tomorrow? What is that and since when is a pool player concerned with it?!?!
Lol, indeed.
JC
Coos Cues
We order the money ahead of time and still have to pick it up a day early to get all the envelopes ready. No reason to have it more than 24 hours in our possession though.
IMO the league operator is on the hook one way or the other. He made mistakes best case assuming he's not a crook. The final penalty for him will probably depend on how well regarded he is by the players. Sucks all around.
JC
Money won is twice as sweet as money earned.... but money stolen is 100 times more sour than money lost.... IMO
For how much time and money is spent on pool league, its BARELY winning anything. Pool league is for fun and if you can get a lil money back: SWEET!!!
Trent from Toledo
It took a couple of years and lots of lies to finally get Truedough to come up with his "payment" plan. He really wanted to stiff everyone but when he realized (thanks to sound legal advice) that accepting money via mail and across state lines is subject to federal investigation and prosecution when not paid out as promised (all well publicized by the IPT) he finally relented. There may have been some additional "pressure" applied by friends of a few players who were owed the largest sums. I cannot talk about this publicly but will just say that Truedough had good reason to be concerned about his personal well being.
As further proof of his misdeeds, I can only point out the ten year federal prison term he is currently serving. There is no parole and at best he can get 15% time off for good behavior. That leaves eight and half years to remain cooped up, which is not all fun and games even at a so called federal reformatory for white collar criminals. You don't get to go home at night!
As far as this situation with the missing funds that were in the care of the LO. If there is one thing I've learned over the years is that when human beings and money are involved anything can and often will happen. You have to look after yourself in ALL such situations! Trust but verify! I'm the kind of guy who asks the uncomfortable questions that sometimes people are reluctant to answer. Currently I have a healthy six figues tied up in various real estate projects and I stay on top of all of them! That said, I got stiffed for 5K on a deal last year. The guy behind the deal turned out to be a well known fraudster who bilked several of the elite in the entertainment industry for large sums of money (millions!). I got off easy.
In St Louis the rumor on the street back in the day was a fellow named Sonny Liston made a living as a "collector" and Sonny reportedly had a very high success rate. There was a time when you had to be careful who you stiffed.
I took a 20K+ bath on my second Los Angeles Open in 1993. I could have easily shorted the prize money payouts (163K total!) to make up for much of that, but chose not to. Instead I shorted my own bank account and made sure every player was made whole. It left me near broke at the time, but my conscience was clean. My karma was making millions in several real estate deals during the next twenty odd years. You get back what you put out!
A class action suit where the loss for all of the members in the class was a total of $19,000 is absurd.
BCA does not contain franchises to sell; different structure than APA / NAPA.
It literally only takes $200 to start a new league. Once started BCA gets $15 per player for their sanction fees and this is deducted from the initial $200.
All of the weekly dues collected from players/teams are kept within the league for payouts, League Operator cut, green fees, etc. as applicable. These expenses should be transparent.
There is no set mandate on how much the League Operator/Owner can hold/keep. Some League Operator donate their time, some keep a small percentage for the efforts, and I have seen some take up to or over 30%...
PLAYERS SHOULD ASK, PLAYERS SHOULD KNOW UP FRONT
BCA could force out the League Operator strictly based on him being irresponsible, careless, etc...after all, he DID NOT follow any of the recommendation in their League Operator manual.
BCA can force the League Operator to send weekly finances in to BCA; however, at some point the funds are sent back to the League Operator for payouts, thus made available for thief.
BCA could force the use of a bank account; however, at some point the League Operator is going to make a withdraw for payouts, providing an opportunity for thief.
See the picture here... BCA should enforce a few mandates verses publishing recommendations.
BCA would have to force the use of a bank as well as force the payout to be checks or at least something other than cash...
Players need to accept that they are getting a check; typically, a check is given to the team captain for disbursing within their team(s).
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Regardless of the circumstances, the league manager (who was entrusted with the funds) should make it good and proceed with the league end of session payouts. If he/she decided to keep league monies at home (for any period of time) then they are responsible. They are also responsible for not having some type of protection for those funds.
It's not rocket science to figure how much money is/will be involved beforehand either.
It's not rocket science to figure how much money is/will be involved beforehand either.
The league money was stolen two nights after the least week concluded. The end of season banquet was officially cancelled as of yesterday.
Very true; however, that makes assumptions that the LO has 19k... that isn't from the league initially...lol
The league money was stolen two nights after the least week concluded. The end of season banquet was officially cancelled as of yesterday.
Apparently the LO feels no responsibility....also, IMO, has thus lost all credibility.
When the maximum amount of funds are collected... #insidejob, #SomeoneKnewThe league money was stolen two nights after the least week concluded. The end of season banquet was officially cancelled as of yesterday.
Hard to have any sort of banquet... even that would have been paid for out of this collection.
The league money was stolen two nights after the least week concluded. The end of season banquet was officially cancelled as of yesterday.
Easy-E,
Are these communications being provided only by the LO?
Has your league heard anything from BCA officially?
Just curious, not sure what they would say or input on, other that some assurances to attempt to retain the local league.
BCA only collects a grand total of $15 per player per year but I would think the huge negatives warrant involvement.
He’s posted several times about how sorry he is and how it will be made right. The banquet was cancelled since no one will be getting paid.
There’s a long thread about the burglary on our community’s Facebook group page. All of the open communication has been on there. Plenty of private conversations are being had, I know that much.
You know what I think is absurd? That anyone should have to lose out on their share of $19,000 just because they were to lazy to sit down for a free consultation to see if there was something there.
The league money was stolen two nights after the least week concluded. The end of season banquet was officially cancelled as of yesterday.
So, any word on what's going to happen? Obviously no banquet, and no payouts. Did they get back to you on a police investigation? Any word for the money paid in for qualifications for the national tournament?
Easy-E, have you tried contacting the league yourself?
Posted? I assume on Facebook? If so, could we get a link to the page?
Let me know when you find a lawyer willing to give a free consultation for a $19,000 class action suit, LOL.
The world doesn't work the way you think it does.
But he is ready to direct traffic!
Or don't do it. It's not my money. I don't care if you lose out.