Prime Time Pulls the Plug

[JamaicaMan]

To the surprise of no one, we have officially pulled the plug. Our discussions with potential investors didn't yield anything other than promises to study it for a few weeks. I guess I can officially announce the demise of PTS.

The only villan in this story is a guy none of you have ever heard of, a guy in Palm Beach who started this and promised he would provide the money. The other investors (including Touchpoint) were victims. Dennis and I, our employees and most seriously our players were victims.

No one walked away with any money in this fall from grace. Dennis and I haven't been paid since March, our employees since the beginning of April and the investors lost all their money. The only ones who profited were those players who won money and cashed out before the fall.

I am sure Dennis will join me in expressing our sorrow for what happened. We had the best intentions and were promised the money to make this work.

Gamblers Avenue has made our players a nice offer. I am negotiating with two other books for offers. I hope to have an announcement tomorrow.

Thank you and please know how sorry Dennis and I feel about this.

 

[Dante]

thanks for posting...but extremely sad news...at least GA is offering something .

 

[SENDITIN]

Jamaica man,

Haven't kept up with this story, but if I may ask...At what point were you guys using the post-up funds to run operations? And if you did know about that and continued to accept deposits, you're as guilty as the next guy. If I'm off base, please accept my apologies.

 

[JamaicaMan]

Post up funds were never used to pay operations. Money posted was used to pay players. We put money into the deposit accounts but never took any out.

 

[loveladys7777]

Well good luck Bob on what ever endeavor you start next..

Oldfriend

 

[Samurai]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by JamaicaMan:
Post up funds were never used to pay operations. Money posted was used to pay players. We put money into the deposit accounts but never took any out.<HR></BLOCKQUOTE>
Knock it off with this crap.

You said you were breaking even. That means that all the players who sent you money would still have that money available to them if you and/or someone else hadn't stolen it.

You said in e-mails that players' funds were kept entirely separate from operating funds. If so, then where are those funds today?

What happened to all the money in your Neteller account that got deposited in the last few weeks of operation, but never got paid out to anyone? Where did that money go?

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>The only villan in this story is a guy none of you have ever heard of, a guy in Palm Beach who started this and promised he would provide the money.<HR></BLOCKQUOTE>
Complete and utter nonsense.

There are plenty of villains to go around...and we can start with you. You were running a book that started up with next to nothing in the way of funds, yet you came to these boards and encouraged players to come and play at PTS. You brushed off Spive's very accurate assessment of your scam operation as the baseless rantings of someone who must have a grudge against you....even when you knew he was speaking the truth.

You have repeatedly lied, or conveniently refused to reveal pertinent details about the operation of PTS from Day 1.

You have been the front man for this thieving crew from the start. IMO, that makes you Villain #1.

Since you guys are refusing to do the right thing and return the funds you stole, hopefully you can do the next best thing and work out an arrangement with another book to compensate the players for their losses; but don't think for a minute that gets you off the hook for what you've done here.

[This message was edited by Samurai on May 08, 2003 at 03:40 PM.]

 

[lander]

Good post Samurai.

PTS is 100% to blame .. nobody made them open shop.

 

[UncleButternutts]

Samurai

Excellent post!

One thing , PTS did assist in Gamblers Avenue putting together a bailout.


Still, the post above sums things up perfectly imo.

 

[marc]

Samurai,

It wouldn't suprise me if we looked at PTS's neteller account, that they did in fact use it only to pay players. Of course I'm sure Dennis set up a players account as well. That way, if he wanted to deplete PT"s neteller account, all he'd have to do is deny everyone lese's request, and then make his own withdrawal request. Once the money is in his personal Netller acct, he wirs it over to his personal bank account. And presto, PTS has no money, no one knows of anyone who got a withdrawal, , and PTs can keep claiming that they never withdrew money from neteller.

 

[cecil+]

"The only villan in this story is a guy none of you have ever heard of, a guy in Palm Beach who started this and promised he would provide the money."

What is this mans name???
If not you, who the fvck owes me $$?
Its a short trip to Jamaica...

 

[buddyboy]

"we're victims too"

man what a load of crap.

"sorry we'll try to help"

someone here needs to grow some balls and take responsibility for this money.

It's all fun and games to be the boss and call the shots, but when the investor pulls the plug you can't blame the investor, you blame the management.

was it the investors fault when kmart filed bankruptcy? Management was running the place into the ground, and it's someone elses fault because no one wants to invest money into it?

can I get an amen?

"we had a great plan, the investor just needed to give us payment number two."

that was the plan?

that is a dumbass plan. try to make it work without all the money.

then blame it on the investor.

the investor was the smartest guy out of the bunch. He gave you a little money at the start, waited to see if you guys could run the place, when you couldn't he backed out. He only risked what he had to risk.

You guys risked your customers money and your time

 

[TheGeneral+]

 

[2006]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> The only villan in this story is a guy none of you have ever heard of, a guy in Palm Beach who started this and promised he would provide the money. <HR></BLOCKQUOTE>PTS should not have accepted any wagers unless they had funds available to cover all of the post-up and all outstanding wagers. Obviousley this was not the case. Therefore JamaicaMan if you knowingly accepted wagers under these circumstances you are clearly a VILLAIN!!!

 

[DreamMaker]

On the other side the man was man enough to come here and admit. This is no excuse but should be kept in consideration.

Definitely irresponsible, not a thief.

Bottom line players lost

 

[Banned4Life]

I don't see what the big hurry was to open the sports book until the investors' money was already in-pocket. Leading players on with assurances that you were already sufficiently funded when you actually were not borders on fraud IMO.

 

[go2guy]

This smells like a scam true and through! I hope all who were burned by these theives get some type of satisfaction (bailout offer or etc.) when it's all said and done. Watch out for these guys I heard the managers/owners have already file for a new corporation, I bet you couldn't guess what "field" they plan on venturing in?