"Fonzi, who spoke to msnbc.com on condition that he not be identified by his real name, said he expects that the bankruptcy means that players will never receive the money they deposited with Absolute Poker and UB."

I'm pretty fucking livid in this moment.

They seem to be stiffing their shitcanned Costa Rican employees for $2.7million.

http://haleyspokerblog.blogspot.com/...ehind-ids.html

I lose

geeg, so what ima do.......HUSTLE..HUSTLE... HAWWWWWWWWWWWWWWD

So what about the money in the accounts the DoJ seized? They just keep it as part of the investigation?

 

Originally Posted by adamsapple19

So what about the money in the accounts the DoJ seized? They just keep it as part of the investigation?

If I had money on AP/UB right now, I would be praying that the DOJ had as much of the money as possible. That would seem like the best chance of any sort of recovery. Looks like there may be a lot of skeletons in the closet at AP/UB and there's going to be a long line of creditors. Have no idea how players would rank in the creditor heirarchy. I'm sure there will be plenty of class action lawsuits to come that may allow players to recover a portion of what they're owed. Bankruptcy doesn't necessarily mean a company has zero cash, it means their liabilities are greater than their assets and there is no way to right the ship in the foreseeable future.

 

Originally Posted by Adam

From what I've heard - which may or may not be true - the players are the next thing they want to take care of once their employees get their severance. Apparently they have almost all their cash tied up in processors. I am having a hard time knowing what to believe at this point, but that's what I've heard.

Please, Please, Please be true

Guess we know now why Phil left UB.

sigh.................

Fuck My Life

On a side not the person that MSNBC interviewed for the article that quoted:

"Fonzi, who spoke to msnbc.com on condition that he not be identified by his real name, said he expects that the bankruptcy means that players will never receive the money they deposited with Absolute Poker and UB."

Is just a player on the site who has "a few hundred dollars" on there. This entire story was written on one users opinion which is completely based upon the assumption that the bankruptcy of the shell company, Madeira Fjord, will directly cause bankruptcy of AP/UB. I'm not saying we will see our money, but it seems this article was based on information that was released days ago without considering information that was released yesterday.

so we can safety say they wont be cover the $985 they owe me for a check that bounced 2 weeks ago??

 

Originally Posted by CalBandGreat

I feel bad for everyone who had money on UB as they did nothing wrong and are likely to lose all of their money, but anyone who had money that they couldn't afford to lose on UB was pretty naive to keep it on there. I just can't believe it when I hear that some people had a big % of their roll on UB. They was just so much damn evidence that UB was a terribly run business that couldn't be trusted. Whether it was the multiple super user scandals, the covering up of those scandals, shipping a large pot to their most recognizable pro with the losing hand, cancelling a $1K heads up event after many rounds have been played and many more screw ups that made it obvious that this was a shady company with no internal controls.

Not to be a dick, but anyone with a big part of their roll on UB needed a lesson in common sense and I hope everyone at least learns a good lesson from this. I know some people knew that UB was a risky site, but it was softer then other sites and people took a calculated risk by putting a small % of their roll on UB and they took a bad beat. These people are not naive, but they just took a risk and it didn't work out. That sucks for them and I wish it didn't happen but playing on a really soft US based site does not come without increased risk. I hope something happens and somehow people are able to get a % of their money from UB, but If I had money on UB, I wouldn't be counting on seeing any of that money.

Honestly guy, when i started on AP i was working full time and in grad school. I had played on stars and the field size was too big for me to see consistent profits. The next largest sites for US players were FT and AP. I tried AP and it took off. After 2 years being a consistent winner at low-midstakes I quit my job and made the switch to playing full time because I knew I could make 15k+ monthly. I had heard about the cheating scandals in the past but had no idea that it involved any of the owners of the site. With sponsored pros like Phil Helmuth and Annie Duke I just assumed the site was legit now. Not everyone has been doing this for 5+ years and lives and breeds online poker gossip. Your avg. depositor is completely uninformed of any prior cheating scandals at all. Had I known about the corrupt business practices i.e blatant tax evasion, understating profits, hiding money, cheating investors, money laundering etc. I would have never kept more than a couple thousand on the site.

As it turns out these sites got shut down 4 weeks after I quit my job to play full time. And even though I had started to transfer my funds to FT and Stars I still had an enormous amount on AP simply because I continued to win at an above-linear rate during the transfer period.

So please try to refrain from berating the players of this site simply because they were not as informed as you were. We are all idiots and suck at life and will never be as good at poker as you are. Jerk your nuts off and bath in your money but don't berate people for playing on, what appeared to be, a legitimate poker site.

 

Originally Posted by MarkFSU1

what information was released yesterday donkiman?

also agree this is just some guys opinion and some journalist just runs with it stating it like its facts...also fonzi is a pussy, if u want to put your story out there then put your name on it and because "fonzi" "considers his few hundred dollars gone" im supposed to too

ive had several talks with UB since all this bs, and ive been told what Adam is stating over and over, maybe im just naive or overly hopeful, idk just really irritated right now

I was referring to this article. http://www.gambling911.com/poker/bre...iz-050311.html
which states they will be paying US players and focusing on their international market.

o my

 

Originally Posted by donkiman

Honestly guy, when i started on AP i was working full time and in grad school. I had played on stars and the field size was too big for me to see consistent profits. The next largest sites for US players were FT and AP. I tried AP and it took off. After 2 years being a consistent winner at low-midstakes I quit my job and made the switch to playing full time because I knew I could make 15k+ monthly. I had heard about the cheating scandals in the past but had no idea that it involved any of the owners of the site. With sponsored pros like Phil Helmuth and Annie Duke I just assumed the site was legit now. Not everyone has been doing this for 5+ years and lives and breeds online poker gossip. Your avg. depositor is completely uninformed of any prior cheating scandals at all. Had I known about the corrupt business practices i.e blatant tax evasion, understating profits, hiding money, cheating investors, money laundering etc. I would have never kept more than a couple thousand on the site.

As it turns out these sites got shut down 4 weeks after I quit my job to play full time. And even though I had started to transfer my funds to FT and Stars I still had an enormous amount on AP simply because I continued to win at an above-linear rate during the transfer period.

So please try to refrain from berating the players of this site simply because they were not as informed as you were. We are all idiots and suck at life and will never be as good at poker as you are. Jerk your nuts off and bath in your money but don't berate people for playing on, what appeared to be, a legitimate poker site.

Wow, you are just completely ignorant and naive and should have a done a little research. One f'ing google search would have given you every single answer you ever wanted.

And the last part is just embarassingly lol. Yeaaaaa UB seemed to be pretttttty legitimate..... If your definition of legitimate is, well, everything you would have found in that google search.

 

Originally Posted by Much__Bettor

that joke of a site should have died long ago, good riddance

nothing wrong with the site per se. Just the owners and founders. Wish they died long ago.