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i would say they are filing to allow the company to operate until the case can be heard. because they wont have enough earnings to operate and go through the legal processess without it (without using client accounts)

because any bank borrowing facilities they have will be blocked for now as those are based on earnings. no bank wants to have their name associated with this right now- bad for business.
 

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I am sure there is a reason why they went after the others as well as G - maybe to get to themain guy - they need to go after the soldiers as well. If he does not come out, this will still hurt him in some way...maybe financially?
 

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doj or others simply say we have a strong case these are the facts its against these list of laws. the people in custody are not us citizens and are a flight risk. finally we have had undercover operatives gathering information for some time - we have the goods on them.

what do you think the judge is going to say hearing the appeal ?
 

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well they do not have G yet but they have his brother and he is a us citizen, peter wilson is also a us citizen
 

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I can;t believe this many rx members have money in that shit hole.

Don't you read the complaints lodged against them here at the ol forum.

Boners are for boneheads

Good luck to all of you as there are only a gazzilion books out there to chose from,and as your parents said growing up,life is all about the decisions you make,so choose wisely.
 

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Bail (Flght Risk) and the Tempoary Injunction preventing trade are entirely seperate..

That said, I'd give the chance of them successfully appealing the injunction at <10%..the question is what BOS do then..
 

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i can say right now if they have just one us client lodge a complaint or they stiffed an undercover us agent - they will all be extradited if they are able too.

it happened in enron and its happening with refco.

also think about this the us government is just not going to fine these people and take all the us client account money

they will have the us clients paid first then they will fine whatever is left.
 

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santo..... phil bennett is an english citizen - he was arrested and jailed - another guy santo maggio is under house arrest in florida a us citizen.

us citizens wont be held in custody but foreign citizens will

thats why the natwest bankers didnt want to be extradited they have to sit in custody until their case about enron is heard.
 

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I would think that they would be able to simply disable accounts from those in the US.
 
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Off to drink heavily (while it is still legal)!

13 more months till I am able to leave this god for saken fucking country!

I should just jump probation now and head out. (just kidding for those who are watching)
 

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thanks santo - those guys are screwed having to stay and not being able to work - gl
 

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gbogo said:
you really dont want them to settle nor fight a losing fight because that money will be going out of your pockets.

as i indicated us clients will be able to claim their money first because the us govt will protect your original deposit and the company will prove any losses or gains. they will deduct bonuses and winnings with bonuses to get out of paying

they need to do that to pay off the shareholder lawsuits and fines if they are to stay in business at all.

any people not in the usa better withdraw their money today because if it goes under you will be footing the bill and have no us govt claim on assets to back you up.

Either way, you're hosed once the US govt get a hold of their book. Ligitation will probably drag on for years (have you seen any lawsuit that settled in a month time?). Meanwhile, your account at BOS may be frozen for the foreseeable future.

And with the book in hand, your record will be scrutinized and the IRS will likely come after any name on the book should they so choose.

Rightly or wrongly, you'll need to hire a lawyer to put up a fight with the IRS nonetheless, and guess who'll foot the bill for that? Anyway you look at it, things look bleak from where I sit for us gamblers industry-wide.:cryingcry
 

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If BoS had agents taking bets inside the US; then the DOJ surely must allready have those people locked up or under surveilance. If that is the case, I can't see their lawyers winning ANY appeal. But it's a strange country sometimes.
 

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gbogo said:
i would say they are filing to allow the company to operate until the case can be heard. because they wont have enough earnings to operate and go through the legal processess without it (without using client accounts)

because any bank borrowing facilities they have will be blocked for now as those are based on earnings. no bank wants to have their name associated with this right now- bad for business.

There is a tempory restraining order to prevent them from accepting bets from the US. They are filing simply to fight. They want to keep the business up and running. They are not operating simply to finance the fight. The Justice Dept. indictment seeks forfeiture of $4.5 billion from the defendants. There is no way the Justice Dept. will allow them to use client accounts.
 

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The US said ¨Stop taking bets from US clients and to return all monies¨. How can they just shut down the site and not issue withdrawals at all and still expect to keep in good faith?

FI
 

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Gbogo,

I don't no where your qaulitfications come from, but your statement where they would pay the US account holders first is crazy. The banks, and any other money they owe always comes before customers. Any bankrupcy judge will favor the debt first before customers. I can tell you that NO ONE will get paid if the US suceeds in blocking BOS. At that point the owners will care about one thing and only one thing and that is their ass. He will screw over everyone. Also I really doubt BOS will get control of their money again. If DOJ is saying that BOS was built illegally they will freeze all of their money and if they don't UK may get involved and freeze the companies finances. Everybody that has money in their better pray they don't have a lot of debt as that money will go first and then IF anything is left they will go to players. Also I read somewhere the US was trying to collect something crazy like 3billion from him. Which if true can assure everyone is screwed. Trust me the Govt will take their money first.

Ofcourse if BOS does get a temporary stay I have to think things look bleak. I know alot of sportsbook have float problems this point of the year and they may not be able to cover the 1000's off accounts that will withdraw the second they open.

Also if they file chapter 11 then forget about it as no bankruptcy judge will pay customers before they pay debt obligations. Them being a public company,i got to imagine they owe money up their ass, as they have probally borrowed against their stock value. Hell I can't imagine they had so much spare cash sitting around to buy all these sportsbook. Sort of like how in the US companies start eating up companies because they have over valued stock.

Everybody forget Enron and worldcom. Who got screwed? The average joe. Atleast somebank were able sell their assets and try to recover something. Last time I remembered no judge gave any employee the right to sell used furniture from their office.
 

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Fighting_Irishman said:
The US said ¨Stop taking bets from US clients and to return all monies¨. How can they just shut down the site and not issue withdrawals at all and still expect to keep in good faith?

FI


probably because they knew that their entire business depended on US business....


they are fd and so is any money in accounts.
 

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ak5387 said:
Money in the client accounts do not go to their book value. Yes, under default, the company will pay their debt first. Only remaining assets could go to share holders. Cilents that have accounts there are NOT shareholders. So totally two different concepts here.
 

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Great, don't feel safe at all sending money offfshore. US will see to it to stop offshore gambling.....rrrrrrrrrrrrrrrrrrrrrrrrrrrrrr of course i have no locals because 100% of my action is offshore
 

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