redarmi Staking Issue: Sports betting

[arbboy]

Stu has got a good job now hasn't he?

Surely he can pay a decent chunk back every month from his wages?

Not ideal of course, but better than nothing.

That's not the point.  A detailed explanation of where the £30k has gone would be appreciated.  It is our money we gave to him to provide a return not an interest free loan for him to pay back at his leisure.

What's the point in humiliating him?

The money has obviously gone, you should be most concerned about getting it back (unless he's lost on the stake - which he would have told you about by now, so I'm assuming that isn't where it has gone) shouldn't you?

What about humiliating me to several major players in the game and using my reputation to get the £30k in the first place when he never had any intention for using it for the stated purpose.  He get's caught with his hands in the cookie jar and still can't admit what has happened with it when asked numerous times by a guy he considers a 'good friend'.  

True. You have every right to be pissed off.

He asked if I was interested. I'd be very pissed off if I had.

But, I don't think this is the right way of getting your money. If he sent you a monkey when he had a lot more in his hands, he's obviously in big trouble.

This thread could get him in trouble at work, and if he loses his job, you might never get your cash.

Definitely the right way of stopping anyone else getting burned though.

We have given him 4 months to save his job.  He has shown very little respect for us in that time as a group and only ever communicated with us when we have aggressively chased him.  When he has replied it has only ever been to buy time.

If you are going to bullshit me at least bullshit me with a story which makes sense.  There is £10k that should be sitting in his hands/bank which is ours if his story is true.  This is the tilting thing about it.  The relentless lies and inability to admit the truth but keep coming out with a bullshit story which doesn't add up to gcse maths.  The fact the £10k clearly isn't there means he is basically admitting he is lying but he won't actually come out and say it even though his story is doing that for him.

[The Camel]

Stu has got a good job now hasn't he?

Surely he can pay a decent chunk back every month from his wages?

Not ideal of course, but better than nothing.

That's not the point.  A detailed explanation of where the £30k has gone would be appreciated.  It is our money we gave to him to provide a return not an interest free loan for him to pay back at his leisure.

What's the point in humiliating him?

The money has obviously gone, you should be most concerned about getting it back (unless he's lost on the stake - which he would have told you about by now, so I'm assuming that isn't where it has gone) shouldn't you?

What about humiliating me to several major players in the game and using my reputation to get the £30k in the first place when he never had any intention for using it for the stated purpose.  He get's caught with his hands in the cookie jar and still can't admit what has happened with it when asked numerous times by a guy he considers a 'good friend'.  

True. You have every right to be pissed off.

He asked if I was interested. I'd be very pissed off if I had.

But, I don't think this is the right way of getting your money. If he sent you a monkey when he had a lot more in his hands, he's obviously in big trouble.

This thread could get him in trouble at work, and if he loses his job, you might never get your cash.

Definitely the right way of stopping anyone else getting burned though.

We have given him 4 months to save his job.  He has shown very little respect for us in that time as a group and only ever communicated with us when we have aggressively chased him.  When he has replied it has only ever been to buy time.

If you are going to bullshit me at least bullshit me with a story which makes sense.  There is £10k that should be sitting in his hands/bank which is ours if his story is true.  This is the tilting thing about it.  The relentless lies and inability to admit the truth but keep coming out with a bullshit story which doesn't add up to gcse maths.  The fact the £10k clearly isn't there means he is basically admitting he is lying but he won't actually come out and say it even though his story is doing that for him.

Yeah, I can see that would be very annoying.

Stu should come to you now and say what has happened to the money and how he is going to start repaying.

If he was just going to steal it, why didn't he just send you a series a bogus losing bets?

That's the only crumb of integrity I can find from this story.

[The Camel]

I wil say this, Boldie and Blatch going AWOL with other people's money didn't surprise at all.

I'm shocked and disappointed redarmi would do this though.

I still cling to the hope he will make it right somehow.

[arbboy]

Stu has got a good job now hasn't he?

Surely he can pay a decent chunk back every month from his wages?

Not ideal of course, but better than nothing.

That's not the point.  A detailed explanation of where the £30k has gone would be appreciated.  It is our money we gave to him to provide a return not an interest free loan for him to pay back at his leisure.

What's the point in humiliating him?

The money has obviously gone, you should be most concerned about getting it back (unless he's lost on the stake - which he would have told you about by now, so I'm assuming that isn't where it has gone) shouldn't you?

What about humiliating me to several major players in the game and using my reputation to get the £30k in the first place when he never had any intention for using it for the stated purpose.  He get's caught with his hands in the cookie jar and still can't admit what has happened with it when asked numerous times by a guy he considers a 'good friend'.  

True. You have every right to be pissed off.

He asked if I was interested. I'd be very pissed off if I had.

But, I don't think this is the right way of getting your money. If he sent you a monkey when he had a lot more in his hands, he's obviously in big trouble.

This thread could get him in trouble at work, and if he loses his job, you might never get your cash.

Definitely the right way of stopping anyone else getting burned though.

We have given him 4 months to save his job.  He has shown very little respect for us in that time as a group and only ever communicated with us when we have aggressively chased him.  When he has replied it has only ever been to buy time.

If you are going to bullshit me at least bullshit me with a story which makes sense.  There is £10k that should be sitting in his hands/bank which is ours if his story is true.  This is the tilting thing about it.  The relentless lies and inability to admit the truth but keep coming out with a bullshit story which doesn't add up to gcse maths.  The fact the £10k clearly isn't there means he is basically admitting he is lying but he won't actually come out and say it even though his story is doing that for him.

Yeah, I can see that would be very annoying.

Stu should come to you now and say what has happened to the money and how he is going to start repaying.

If he was just going to steal it, why didn't he just send you a series a bogus losing bets?

That's the only crumb of integrity I can find from this story.

HE did for 3 months.  The £30k stake was reduced to £26k between Jan-march. Whether these bets actually went on or not nobody has any proof of.  At this time i questioned him why we were not betting anywhere near the volumes on a day to day basis per his staking records/spreadsheet to generate the turnover needed to meet his projections for the stake over 6 months.  We were turning over 10% of the agreed amounts pre stake.  I asked for mine and my other 2 contacts % of the £26k remaining to be paid and the stake come to a conclusion as the sufficient volume was not being punted to justify the investment.  At this point he basically came out and admitted his bullshit story about £12k being stolen blah blah from a girl who is a friend of a friend as the money was clearly not there to be repaid.  He was only betting £2-3k turnover a day max so no one should ever have needed £12k in cash up front in one go to put on for him given the size of bets he was placing on the stakes behalf.  If i hadn't asked questions at this stage nothing would have been admitted and maybe that was the plan to slowly just lose the £30k on the stake over a longer period of time.  It all adds up from what has happened since.  There were 16 runner hcap's on a daily basis where the stake wasn't even having a bet in the race when we should have been backing 4-6 horses ew in these races for a decent % of the £30k bank.

Then there is the remaining £10k which he should still have in his bank to make the £30k up.  Obviously it is not there or he is just withholding payment.

I have posted enough about this now.  I just don't get what has happened/why it has happened etc.  No stories add up.  If he was worried about his job this issue was never going away and was always going to hit blonde etc within a 3 month period of him coming out with his story.  Opening up at the start would have been the obvious thing to do rather than lie which makes me think something serious has happened which he needed the money for.

No one's life is going to change if we all never see another penny of the money we have invested but that is not the point.

[arbboy]

I wil say this, Boldie and Blatch going AWOL with other people's money didn't surprise at all.

I'm shocked and disappointed redarmi would do this though.

I still cling to the hope he will make it right somehow.

This was my reason for getting involved in the first place.  I can count on one hand the amount of staking investments i have made in 10 years of being in this game.  I don't like staking generally and prefer just to make money myself for this very issue.  This was the only one i really thought i would never get fucked on.

[sonour]

I'm glad you think it's an interest free loan. That implies that we will get it back.

[The Camel]

Don't know why he just didn't just ask for a loan, instead of this staking thing.

[sonour]

Has the well known poker player confirmed that he owes Stu money and if so is he intending to pay it back ?

This is a token amount in relation to the overall stake and has no bearing on where the reminding money is imo which should have been repaid months ago.  This is why i am 100% convinced we have just been used as an interest free loan for 7 months as if the stake was for real there would be over £10k in cash sitting in his account that he could snap repay.  The fact he can't/won't means he is desperate for cash and/or has blown it punting.  There is no other excuse which makes sense.

I don't agree with that. It's all relevant or none of its relevant. If the poker player denies owing money then that's another piece to the jigsaw.

[arbboy]

Has the well known poker player confirmed that he owes Stu money and if so is he intending to pay it back ?

This is a token amount in relation to the overall stake and has no bearing on where the reminding money is imo which should have been repaid months ago.  This is why i am 100% convinced we have just been used as an interest free loan for 7 months as if the stake was for real there would be over £10k in cash sitting in his account that he could snap repay.  The fact he can't/won't means he is desperate for cash and/or has blown it punting.  There is no other excuse which makes sense.

I don't agree with that. It's all relevant or none of its relevant. If the poker player denies owing money then that's another piece to the jigsaw.

Said poker player confirms he owes Stu money but it is less than 10% of the overall stake from my knowledge.  It is not material in the bigger picture of the stake imo and certainly not an excuse for us not already having received a vast % of the amounts we are all due from money which should be sitting in Stu's bank account (at least circa £10k of the £30k) if his story which he has stuck to from early April is correct.

[Woodsey]

It will never cease to amaze me how much money people will trust others to gamble with.

[arbboy]

It will never cease to amaze me how much money people will trust others to gamble with.

Woodsey to put this in context the £30k was a combined investment from 6 or 7 people (all who are professional gamblers/investors) who's net worth between them was well in excess of £3m i would imagine.  I am sure Pads invests way more on a daily basis in swaps with people and buying % of players at the wsop.

[George2Loose]

Tough being on this side of the fence eh arrboy?

[arbboy]

Tough being on this side of the fence eh arrboy?

Not really.  The money won't change my life or anyone else's life who invested if we don't see it again.  Ten times more important to me I don't like losing long term friends over money and being lied to and damaging my reputation providing references for someone who i trusted and looked up to in the game 10 years ago.  I only commented on the thread started by pads because my name was mentioned and i gave my side of the story.

[sonour]

Well why isn't the poker player paying up ?
I'd have thought he should have been able to pay at the end of the football season.

[George2Loose]

I wasn't referring to the money.