I liked this thread better with all the chick pics
Multiple state = federal charges
Wire Fraud/Mail Fraud.......it's not going to be pretty
I hope everyone gets their money back but this doesn't look promising.
At this point, let's just hope all the guys who had money in this game get as much back as possible if not all of it (ideally). Regardless of which side of the fence you were on to start this project, it does no good for anyone to lose a bunch of money on the deal.
I don't have any skin in the game, but I certainly don't want to see anyone lose money if possible.
Hope for the best.
There's my positivity for a Friday.
Quoted from RobT:
I'm sure Paypal has a ton of experience with this stuff, but shooting from the hip here, it seems that the logical thing for Paypal to do would be to take the initiative and file suit themselves.
They would file an Interpleader claim with the court. This is the process where you basically deposit funds with the court that you are holding for others, and there is a dispute as to whom is owed what from those funds.
Paypal would have to notify everyone who has a potential claim to those funds, which shouldn't be difficult since they know who made payments to Skit-B.
The court then decides who gets what out of the Paypal proceeds.
Hey Rob, given your background with all this kind of stuff, your suggestion make a lot of sense. Here is the problem as I see it. Most everyone made large cash deposits to this account 6+ months ago, I guarantee you the minute those deposits were made, Kevin immediately transferred those to his bank account, more than likely into a dummy account at the bank which was then transferred into another account to which PayPal can't access directly. Scam artists have used this way around charge backs with PayPal for years.
The chances of any money actually being in this directly accessible to PayPal account are probably slim at best. PayPal can certainly freeze the account but that doesn't mean there's any money there. The money is gone folks, if it truly was there the refunds would already be coming back without any need to request your money back.
Compounding the problem he mislead everyone with misinformation in an attempt to "run out the clock" on the PayPal chargeback system. Your only legal remedy is going to be through the courts, as far as I can see it.
Quoted from RobT:
You guys are both right. But take a look at the posts that I was replying to. I was talking from PayPal's point of view. They don't have to wait for other litigation to take place, they can initiate it themselves.
An interpleader action is what you do when you are holding money for others who are claiming a right to it and you don't know how much everyone is entitled to. So you let the court decide.
That would require paypal actually caring though. Unless they've changed over the years I don't see that happening.
The big catch in this is your assuming they are holding money for others. I kind of doubt there's anything there to hold in this case.
He hired Jimmy? Must be for product testing. I always wondered what he was up to lately.
God I need a drink from all this drama in the pinball community lately. Good thing I'm a trained professional from Wisconsin.
Quoted from RyanStl:
No wonder the house was so cheap. The house was worth what the Kevin or his wife paid then and now. The flooding appears to be regular and the house price adjusted for such. When you buy a house with cash, it doesn't matter what insurance you have because it is not required by a bank. I doubt a bank will mortgage this type of property with the regular history of flooding. Bad house purchases should not affect the trustee's ability to recover funds.
Actually, banks will lend money to property like this. They simply require that if the property is in a floodplain, they require flood insurance up to the value of the loan and property/liability coverage that does the same(the property/liability coverage is required on all property with bank loans/mortgages on it). Banks don't mind borrowing the money, they just make sure they are first in line to recover any money they borrowed in order to recoup their investment.
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