News Article: Eugene Melnyk lawsuits:too many to count...

[AchtzehnBaby]

It looks completely odd.
1. The time
2. When does a cheque abbreviate Bank to BK
3. When does a cheque only have the city , vs the address of the bank
4. When does a cheque have 2 line items Transit #: Account # :
5. When does a cheque have ChkNbr9999999 .. it just has a number.

This is a "somewhat" reasonable facsimile of a cheque. If it was way back in the day when you new your banker and your kids went to school with their kids it might have been ok.

Paying by Cheque In the FAQs . Can I print my own cheque? .. It says you can but you need to follow a standard .. You can follow the link to read up on that standard. ... but the cheque Melnyk created or used does not meet the standard.

So imho.. these cheques are not worth the paper they are printed on.

it's not like it is fake. you have to understand the context of what has transpired. i posted some links a couple of days ago... not sure if this is 100% right though.

"In the United States, bank drafts constitute only one class of what we call bank drafts in Canada. Thus, in the United States, an instrument drawn by a bank on itself is called either a cashier's cheque or a bank money order. An instrument drawn by a savings bank or a savings and loan association on a commercial bank is called a teller's cheque. A bank draft in American terminology is an instrument drawn by one commercial bank on another. "

"A bank draft is "sometimes loosely referred to as a cashier's check"

 

[Maple Leaf Forever]

It looks completely odd.
1. The time
2. When does a cheque abbreviate Bank to BK
3. When does a cheque only have the city , vs the address of the bank
4. When does a cheque have 2 line items Transit #: Account # :
5. When does a cheque have ChkNbr9999999 .. it just has a number.

This is a "somewhat" reasonable facsimile of a cheque. If it was way back in the day when you new your banker and your kids went to school with their kids it might have been ok.

Paying by Cheque In the FAQs . Can I print my own cheque? .. It says you can but you need to follow a standard .. You can follow the link to read up on that standard. ... but the cheque Melnyk created or used does not meet the standard.

So imho.. these cheques are not worth the paper they are printed on.

The key thing between bank draft and chegue is who signs it ...bank draft is signed by bank staff who are authorized to sign on behalf of the bank ....not the customer ....customer never sign bank drafts .....on this example there is no bankers signing .....it’s signed by customer ...so it is a cheque.

 

[MiscBrah]

it's not like it is fake. you have to understand the context of what has transpired. i posted some links a couple of days ago... not sure if this is 100% right though.

"In the United States, bank drafts constitute only one class of what we call bank drafts in Canada. Thus, in the United States, an instrument drawn by a bank on itself is called either a cashier's cheque or a bank money order. An instrument drawn by a savings bank or a savings and loan association on a commercial bank is called a teller's cheque. A bank draft in American terminology is an instrument drawn by one commercial bank on another. "

"A bank draft is "sometimes loosely referred to as a cashier's check"

This is partly true, I posted the actual definition from the Connecticut statute that the complaint cites on page 13. The complaint doesn't mention bank draft, they just say "draft" and "draft" has multiple meanings under the Connecticut law they are relying upon.

 

[harrisb]

So now I actually wonder about the private jet tweet

 

[Tuna99]

Melnyck even sucks at poker.

 

[AchtzehnBaby]

Melnyck even sucks at poker.

I thought that place is a horse track too

 

[harrisb]

I am secretly hoping he was betting on the sens...with Pete Rose

 

[BonkTastic]

I am secretly hoping he was betting on the sens...

If he did, he picked the wrong night to bet on his team.

Sens played a Friday night game the the same day he took out these markers -March 19th, 2017- we lost 4-1 to Montreal.

 

[inthewings]

If he did, he picked the wrong night to bet on his team.

Sens played a Friday night game the the same day he took out these markers -March 19th, 2017- we lost 4-1 to Montreal.

If Melnyk is betting on Sens games, he's not betting on them winning.

 

[Sens of Anarchy]

it's not like it is fake. you have to understand the context of what has transpired. i posted some links a couple of days ago... not sure if this is 100% right though.

"In the United States, bank drafts constitute only one class of what we call bank drafts in Canada. Thus, in the United States, an instrument drawn by a bank on itself is called either a cashier's cheque or a bank money order. An instrument drawn by a savings bank or a savings and loan association on a commercial bank is called a teller's cheque. A bank draft in American terminology is an instrument drawn by one commercial bank on another. "

"A bank draft is "sometimes loosely referred to as a cashier's check"

Its clearly not a bank draft. A cashier's check is signed by a cashier. It more closely resembles a cheque and as far as it not being a fake , well , in my estimation it is not an official cheque made by a bank and it does not meet the standards of a cheque .. I never used the word "fake" . It's genuine enough but it would not clear as a cheque in my opinion, therefore worthless.

 

[Sens of Anarchy]

The key thing between bank draft and chegue is who signs it ...bank draft is signed by bank staff who are authorized to sign on behalf of the bank ....not the customer ....customer never sign bank drafts .....on this example there is no bankers signing .....it’s signed by customer ...so it is a cheque.

Pretty sure I referred to it as a cheque.

 

[Micklebot]

Ok, so the whole "draft" vs "Banker's Draft" issue seems to be settled. This appears to be a case of his personal cheques not going through as opposed to him somehow getting true bank drafts issued in the middle of the night.

Now that we have that settled, the core issue appears to be:

1. Melnyk had a large outstanding debt with a casino
2. Melnyk attempted payment via cheques which were not honoured by the bank.
3. Upon being informed (I'm going out on a limb that the casino did in fact inform him) he did not arrange an alternate payment method for 2+ years.

Things I am still unclear on.

1. Why 5 different checques... I guess there is a 200k max per cheque?
2. Why was the first cheque done 2 days earlier than the rest?
3. Why were the cheques not honoured?

What I'm really curious about though is whether or not Melnyk has a dispute about the debt itself; is he refusing to pay because he doesn't believe he owes this money? Either way it really isn't a good look for Melnyk to a) have a 900k outstanding debt with a casino, b) not settle it prior to to it going to the courts and ending up in the media.

 

[Nac Mac Feegle]

Ok, so the whole "draft" vs "Banker's Draft" issue seems to be settled. This appears to be a case of his personal cheques not going through as opposed to him somehow getting true bank drafts issued in the middle of the night.

Now that we have that settled, the core issue appears to be:

1. Melnyk had a large outstanding debt with a casino
2. Melnyk attempted payment via cheques which were not honoured by the bank.
3. Upon being informed (I'm going out on a limb that the casino did in fact inform him) he did not arrange an alternate payment method for 2+ years.

Things I am still unclear on.

1. Why 5 different checques... I guess there is a 200k max per cheque?
2. Why was the first cheque done 2 days earlier than the rest?
3. Why were the cheques not honoured?

What I'm really curious about though is whether or not Melnyk has a dispute about the debt itself; is he refusing to pay because he doesn't believe he owes this money? Either way it really isn't a good look for Melnyk to a) have a 900k outstanding debt with a casino, b) not settle it prior to to it going to the courts and ending up in the media.

I'd go a step further and say it isn't kosher for the owner of any pro sports team to be in a casino at all, especially when we're hearing about 6-figure dollars being thrown around. Whether everythign is legit or not is a moot point....the optics are terrible.

 

[Micklebot]

I'd go a step further and say it isn't kosher for the owner of any pro sports team to be in a casino at all, especially when we're hearing about 6-figure dollars being thrown around. Whether everythign is legit or not is a moot point....the optics are terrible.

I mean, he tried to build a casino here in Ottawa and would have had the gov't issued a license. Sports Franchise owners not gambling ever is frankly an unreasonable expectation imo, little lone never stepping foot in a casino at all.

I mean, the NHL Awards have been held at the Mandalay Bay Events Center which is in a resort/casino. It's not taboo to go play blackjack or poker. It's certainly not taboo to step foot in a casino. There's nothing wrong with that. The optics get bad when you start gambling on sports that you have a vested interest in or inside knowledge of.

 

[Rand0m]

Yeah, I don’t think people or the league should take issue with the act of betting. As long as the betting wasn’t on NHL hockey, there should be no concern there.

it really looks like it boils down to the fact that his personal cheques simply bounced and he’s refusing to honour his debt.

With regards to the timing of the drafts. The first cheque was at the start of his weekend when he went on some kind of a winning streak and the ones in quick succession late at night where when he went on a losing streak.

Anyway, I’m loving all of this. This has to be some kind of tipping point. I think Melnyk’s finances are going to be exposed and we find out he has a lot less than he claims. His creditors will start calling on his debt and if the rumours are true (one of his creditors is also interested in the team) then we may finally get a sale of the team!

Would be a nice Christmas present!

 

[Sens of Anarchy]

Yeah, I don’t think people or the league should take issue with the act of betting. As long as the betting wasn’t on NHL hockey, there should be no concern there.

it really looks like it boils down to the fact that his personal cheques simply bounced and he’s refusing to honour his debt.

With regards to the timing of the drafts. The first cheque was at the start of his weekend when he went on some kind of a winning streak and the ones in quick succession late at night where when he went on a losing streak.

I think he is giving new meaning to "personal cheque"

 

[The Lewler]

Ok, so the whole "draft" vs "Banker's Draft" issue seems to be settled. This appears to be a case of his personal cheques not going through as opposed to him somehow getting true bank drafts issued in the middle of the night.

Now that we have that settled, the core issue appears to be:

1. Melnyk had a large outstanding debt with a casino
2. Melnyk attempted payment via cheques which were not honoured by the bank.
3. Upon being informed (I'm going out on a limb that the casino did in fact inform him) he did not arrange an alternate payment method for 2+ years.

Things I am still unclear on.

1. Why 5 different checques... I guess there is a 200k max per cheque?
2. Why was the first cheque done 2 days earlier than the rest?
3. Why were the cheques not honoured?

What I'm really curious about though is whether or not Melnyk has a dispute about the debt itself; is he refusing to pay because he doesn't believe he owes this money? Either way it really isn't a good look for Melnyk to a) have a 900k outstanding debt with a casino, b) not settle it prior to to it going to the courts and ending up in the media.

The cheque’s were issued days apart because he was hitting the same casino for a couple days straight .

His behaviour and personality fit that of a high roller / whale perfectly , it’s the non payment that’s the really intriguing thing.

Obviously nothing in this article to support this , but if he opened a 1 million line of credit at Mohegan sun at the height of his biovail success and pre liver transplant etc , I would bet my own paycheque that he has been gambling big at likely a couple casinos for years.

 

[BonkTastic]

If Melnyk is betting on Sens games, he's not betting on them winning.

This was the 2016-17 season though. Remember, we were a goal away from the Cup Finals that year.

 

[MiscBrah]

If he did, he picked the wrong night to bet on his team.

Sens played a Friday night game the the same day he took out these markers -March 19th, 2017- we lost 4-1 to Montreal.

The date of the payment does not correlate to the date he actually took the chips out from the casino. You have 45 days to pay the money back after drawing on the credit account. So, it was sometime in the 45 days prior to March 19, 2017. Of course, there is a possibility that he took the chips out on that night, it just doesn't seem probable.

 

[BonkTastic]

The date of the payment does not correlate to the date he actually took the chips out from the casino. You have 45 days to pay the money back after drawing on the credit account. So, it was sometime in the 45 days prior to March 19, 2017. Of course, there is a possibility that he took the chips out on that night, it just doesn't seem probable.

Hmm, yeah, true enough. Didn't think of that.

 

[Nac Mac Feegle]

I mean, he tried to build a casino here in Ottawa and would have had the gov't issued a license. Sports Franchise owners not gambling ever is frankly an unreasonable expectation imo, little lone never stepping foot in a casino at all.

I mean, the NHL Awards have been held at the Mandalay Bay Events Center which is in a resort/casino. It's not taboo to go play blackjack or poker. It's certainly not taboo to step foot in a casino. There's nothing wrong with that. The optics get bad when you start gambling on sports that you have a vested interest in or inside knowledge of.

Oh, I'm sure the league doesn't care that much. If they did, they wouldn't have a team in Vegas.

But man, it really does look bad...especially since this particular franchise has had so many questionable move and events surrounding it over the past few years. The dumpster may already be on fire, but ya don't need to add another can of gasoline to the mix, ya know?

 

[discostu]

I mean, he tried to build a casino here in Ottawa and would have had the gov't issued a license. Sports Franchise owners not gambling ever is frankly an unreasonable expectation imo, little lone never stepping foot in a casino at all.

I mean, the NHL Awards have been held at the Mandalay Bay Events Center which is in a resort/casino. It's not taboo to go play blackjack or poker. It's certainly not taboo to step foot in a casino. There's nothing wrong with that. The optics get bad when you start gambling on sports that you have a vested interest in or inside knowledge of.

I agree that just the act of gambling isn't a big deal, but, in addition to the situations you've mentioned (betting on your own sport), I'd say having outstanding debts to a casino is pretty bad.

If a player was known to have large gambling debts outstanding, I think the NHL would be quick to intervene.

An owner is theoretically a lesser risk, but, they still have access to information the gambling industry would find valuable, and the ability to impact outcomes.

It just seems like it's such a bad look for a league.

 

[BonkTastic]

If a player was known to have large gambling debts outstanding, I think the NHL would be quick to intervene.

Heck, they might even force that player to "retire" from the league and play minor league baseball for a year.

 

[Qward]

So now I actually wonder about the private jet tweet

what did it say?

 

[Silex]

what did it say?

I believe it was being reported that Melnyk's private was being repossessed.