FantasyDraft will rescue the client balances for the stricken and Fantasy that is bankrupt Aces, its CEO announced on Monday regarding the RotoGrinders DFS forum.
FantasyDraft CEO Steve Krombolz free pokies online no download said their company is stepping in so that they can save the ‘lifeblood associated with industry.’ The majority that is vast of Aces clients will be paid in money, while bigger balances are topped up with FantasyCash.
FantasyDraft was regarding the verge of acquiring the site month that is last it pulled out of the offer citing ‘issues identified during our due diligence.’ It in fact was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.
Bankruptcy filings soon revealed the messy truth behind Fantasy Aces’ situation: the business had unsuccessful to segregate player funds from its operational costs and owed its customers $1.3 million.
An account placed in the filings as ‘Players Account’ contained just $2,419. Whilst the company listed assets of $1.8 million, that will be liquidated to pay creditors, it said it had liabilities of $2.96 million.
In quick, Fantasy Aces could not pay its customers.
99.6 Percent to Receive Money
‘As members associated with DFS community focused on doing things the proper 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 now have decided to obtain involved. Continue reading “FantasyDraft Bails Out Fantasy Aces, Will Pay Player Balances” »