Crash? - Page 2

hollywoodcole5840 · #11 (**permalink**) 10-20-2006, 08:05 PM

Quote:

Originally Posted by slinger2424

If loga is a trial now, that is bad news in my mind. We all thought he was untouchable.

I am not sure how to take that news exactly. I think that they are taking inventory back so they can auction them after they give the MM the inventory they are owed. Lots going on behind the sceenes I think.

I was in shock when I saw lock was a trial... AMAZED... I am gonna try and catch him on MSN to see what is up..

finalstep · #12 (**permalink**) 10-20-2006, 08:24 PM

they must be out of money and if thats the case they will lock out anyone that requests a big enough withdrawal they can't cover ... from what i've seen they seem to be fulfilling small initial withdrawal requests of new traders only i forget what thats called but its not good news

this also makes the following statement from their own faq false as they are obviously using peoples funds for other purposes otherwise they would not be out of money:

"AllSportsMarket acts as the trusted financial mechanism between traders. Your funds are held in an individual trust account and remain there until you request a withdrawal, or make a trade. When you execute a trade, ASM instantly transfers the money between the involved trader's accounts. Unlike sportsbooks, your deposited balance can never be used to fund another player's withdrawal, because funds only move between accounts when there is a transaction. This ensures that your balance is always available for withdrawal. "

from what i can see on their forums the withdrawal complaints have completely stopped which is obviously impossible so you have to assume there're a lot more people locked out ... considering how many people actually post on the forums slingers "trial" list probably makes up like a third of the posters (and that list is missing many people still)

i am curious to see if anyone has had their lock taken off and was able to successfully withdraw a considerable sum of money

finalstep · #13 (**permalink**) 10-20-2006, 08:33 PM

whats equally as disturbing is that with all the activities going on over the past 6 months i can't imagine how they can possibly ever get fully legalized in the states ... these audits alone break a ton of US laws as did the gsfe form and i'm not even gonna get into the lock out situation

now one has to assume their lawyers know that and have known that for a while and yet they continue to make statements otherwise ... why?

Steel Rain · #14 (**permalink**) 10-20-2006, 08:50 PM

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hollywoodcole5840 · #15 (**permalink**) 10-20-2006, 09:00 PM

Well I added to that Trial list and there are even more that will hit trial once they attempt to withdraw (I know for fact - take it that way)...

The whole legalization thing is all fluff... no matter how much tahoe, johnny, Tiki, and ASM say it is happening... talk to a lawyer, it will never happen... talk to their lawyer, he will say it isn't happening for at least another year... for now, they may just get an injunction (?) that states they can still accept U.S. traders... who knows

hollywoodcole5840 · #16 (**permalink**) 10-20-2006, 09:15 PM

Quote:

Originally Posted by Steel Rain

Hi all......

The trial and lock out activity.

Could ASM be doing this without legitimate concern for suspicious trading activity?

I fully respect the privacy to the matter between ASM and the individual trader, but if I felt I was being railroaded or a part of a witch hunt, there'd be hell to pay.

Thoughts?

Steel Rain

Steel,

You should be fine... no offense, you more then likely will never make the gains we made in the first two years... so your profit margin will easily be covered... they just haven't made enough to cover what the original traders have made on their initial deposits... so the audits, rule changes, payout changes, and the "resolutions" are trying to cover thier mistakes, rather then doing the correct thing - leaving the people who helped build the site up alone...

hollywoodcole5840 · #17 (**permalink**) 10-20-2006, 10:48 PM

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slinger2424 · #18 (**permalink**) 10-20-2006, 10:55 PM

EH? what happened and where? I am missing something

Tripple · #19 (**permalink**) 10-20-2006, 11:28 PM

I don't understand what's going on either. Posting under you, hollywood? What do you mean?

hollywoodcole5840 · #20 (**permalink**) 10-20-2006, 11:42 PM

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