FantasyDraft will rescue the client balances associated with the stricken and Fantasy that is bankrupt Aces, its CEO announced on Monday regarding the RotoGrinders DFS forum.
FantasyDraft CEO Steve Krombolz stated his company is stepping in so that they can save the ‘lifeblood of this industry.’ The vast majority of Fantasy Aces customers will be paid in money, while larger balances are topped up with FantasyCash.
FantasyDraft was in the verge of acquiring your website month that is last it pulled out of the offer citing ‘issues identified during our homework.’ It in fact was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.
Bankruptcy filings soon unveiled the truth that is messy Fantasy Aces’ situation: the organization had failed to segregate player funds from the operational costs and owed its customers $1.3 million.
An account listed in the filings as ‘Players Account’ included just $2,419. Even though the ongoing business listed assets of $1.8 million, that may be liquidated to pay creditors, it also said it had liabilities of $2.96 million.
In short, Fantasy Aces could not pay its customers.
99.6 Percent to Receive Money
‘As members regarding the DFS community committed to doing things the right way, we feel you, the players,’ wrote Steve Krombolz, CEO and Co-Founder of FantasyDraft that we need to do our part to protect the lifeblood of the industry.
‘So, we’ve decided getting involv Continuer la lecture de « FantasyDraft Bails Out Fantasy Aces, Will Pay Player Balances »