beenlosing4ever said:
The plane has slammed into the mountain. The few survivors will have to resort to cannibalism shortly.
I've seen done deals before, but WTF? The writing is SO on the wall for Neteller it's not even funny. It's over, OK? You're crazy to keep funneling money through them at this point. They could file for bankruptcy protection at any second now.
Anti-liberal said:
BetOnSports was sooooo obvious. An automatic Stiff Job if there ever was one.
Pinnacle was first big shock. I never thought they would stiff...and they didn't.
Neteller was a huge shock....didn't think they would stiff at first, but I wish I could find a line on it now...but who would you bet it with?
Neteller Bankruptcy has to be coming soon........Real soon.
:bunnies: :bigfinger
dialitup said:
I'd take 50 cents on the dollar so fast, you're head would spin. I, and now you, seem to be the only ones seeing the bankruptcy coming. Apparently, everyone else seems to be so mesmorized by Neteller's supposedly infallible business model that they haven't considered this as a possibility. Talk about not seeing the forest from the trees...
They are not going bankrupt. That's absolutely ridiculous.
They maintained 110% of deposits and this was verified by auditors... I suppose you could fool auditors, but why bother, they were printing money hand over fist.
Now, could the DOJ have seized a bunch? Sure they could have....
Sean
They maintained 110% of deposits and this was verified by auditors... I suppose you could fool auditors, but why bother, they were printing money hand over fist.
Now, could the DOJ have seized a bunch? Sure they could have....
Sean
TheBigFish said:
LOL...I screwed that up...meant to say that the plane HAS slammed into the mountain. I'm just pissed at the moment. The end of the Neteller card is the death knell and strips Neteller of any "benefit of a doubt" they may have been getting up to this point. Bankruptcy.....next....
sean1 said:
If Enron can cease to exist overnight then Neteller can disappear in two seconds. I used to think that lots of bad things couldn't happen. Remember a few years ago...Kmart went Bankrupt....they had Billions of dollars worth of Real Estate, too. ALL of the current shareholders got nothing and then the new owners came in, issued new stock, and ended up buying Sears. It happens every day of the week.
In every town in the United States there are Contractors who make a living by going Bankrupt every few years.
When it comes to money.....everyone is of the same Religion.
sean1 said:
Arthur Andersen doesn't exist anymore, either.
http://en.wikipedia.org/wiki/Arthur_Andersen
sean1 said:
That sounds very logical...so where the F*** is our money? Apparently, there's more to the situation than an auditors saying they have 110% of deposits. There's something going on that we don't know about. If they had funds seized, wouldn't it have been reported?
BTW, do you have a link to your source which says they have the 110% on hand?
I want to say that no company is immune from bankruptcy. Some of the strongest companies in the world have seen their fortunes change for the worse and even whole countries have gone bankrupt. Why can't some shitass marginally-legal money moving company also go down, especially after losing 70% or more of it's business, it's two founders being thrown in jail and it's stock suspended from trading in the course of about 3 days? LOL...I think you're having a problem seeing past this 110% deposit smoke-screen. Financial upheavals are happening daily.
sean1 said:
The point is...when it is over...It's OVER! Delay tactics turn into stiff-jobs way more often than Payoffs. Explosion....Implosion....Erosion.....Distant memory.
The government has said this is part of a collossal conspiracy...I'll leave it at that. Many say that the money is there. I say it is NOT there, and even if it was, then the government will likely take it...or Neteller will go Bankrupt. Nobody saw a penny from BetOn Sports.
Remember ZZZ Best?
Zzzz Best went public on the stock market in 1986. When accountants wanted to inspect Zzzz Best's operations, Minkow borrowed fake offices for a tour of Interstate Appraisal Services and used an incomplete building to present a fake restoration job. He used US$2 million to complete the building in twenty days.
There were signs of problems, but investors chose to ignore them. The company's Chief Financial Officer also owned a florist's business, and that company was accused by customers of having stolen over $92,000 by charging flowers to their credit cards without authorization. Minkow decided to ignore these allegations, and short-sellers including the Feshbach Brothers, took positions betting that the stock would fall.
Magazines and TV shows did not bother to check his background. Investigations by the U.S. Securities and Exchange Commission, the FBI, two accounting firms and various individual investigators found nothing. Minkow bribed a security guard to give him access to a newly constructed building in Sacramento, California, so that he could present it to his auditors as a wreck that Zzzz Best had recently finished restoring. Zzzz Best was about to buy rival carpet cleaning company KeyServe when their stock suddenly plunged. Members of the press had been researching the company, and communicating with short-sellers who had done their own research. These investigations indicated that the company's contracts had been largely fictional. The story ran in the Los Angeles Times, and spurred FBI investigation of Minkow's link to the Genovese crime family and white separatist movements. Minkow was arrested and indicted in 1987.
How about Bre X?
Bre-X Minerals Ltd., a member of the Bre-X group of companies, was a junior Canadian mining company that was once reported to be sitting on an enormous gold deposit at Busang, Indonesia (on Borneo). Bre-X bought the Busang site in March 1993 and in October 1995 announced significant amounts of gold had been discovered, sending its stock price soaring. Originally a penny stock, its stock price reached a peak at $286.50 (Canadian dollars) on the Toronto Stock Exchange (TSX), with a total capitalization of over $6 billion Canadian dollars.
Busang's gold resource was estimated by Bre-X's independent consulting engineer, Kilborn, to be approximately 70 million ounces. Reports of resource estimates of up to 200 million ounces were never made by Bre-X though the property was described as having this potential. Bre-X's gold resource at Busang was a massive fraud. Encouraging gold values were intersected in many drill-holes and the project received a positive technical assessment by Kilborn. Crushed core samples had been falsified by salting with gold that has a wide variety of characteristics that had been subjected to mineralogical examination by Bre-X's consultants. The salting of crushed core samples with placer or supergene gold constitutes the most elaborate fraud in the history of mining. In 1997, Bre-X collapsed and its shares became worthless in one of the biggest stock scandals in Canadian history, and the biggest mining scandal of all time.
