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

[thinkwild]

Why do broke people not pay their debts?

It is amazing isnt it? $1.2 Bil in wealth but not enough liquidity to cover the bank draft. Puts his decisions to pay draft picks to avoid a signing bonus in perspective. It seems to be passing the fake news test. Seems to confirm our fears over Sens budget decision making.

I remember having a pokerstars account. Tried to develop a betting model. Did get a bankroll that rose for a while. Only playing 2 dollar sit and go's though, dont think i'd have the nads to play cash games. But it was amazing that suddenly there were no more americans playing. Heard many stories of people who had lots of money frozen in their pokerstars accounts that they could no longer cash out.

Have to think the leagues lawyers are following this? I hope someone asks Bettman if this is something that concerns him or where those lines might be drawn.

 

[Silencio]

The article says
"The suit lists an unpaid draft Melnyk issued on March 17, 2017, and four more drafts issued March 19, 2017. Four of the drafts were for $200,000 apiece and the last was for $100,000. Three of the drafts were issued from 11:07 to 11:57 p.m. March 19."

Fraudulent how? can only speculate on that

This is the part that confused me. Whenever I've had to pay a draft to someone I needed to actually go into a branch and request it in person. Drafts aren't like chequebooks you can just carry around and write up whenever you want. Also, when I worked at Scotiabank as a teller I was never allowed to create a draft for any amount over $1000 for a customer without my manager reviewing and signing the draft. So unless there just happened to be a TD Branch physically located in the casino and open at 11 pm, I don't see how Melnyk even had these drafts to give to the casino in the first place.

 

[Mingus Dew]

This is the part that confused me. Whenever I've had to issue a draft to someone I needed to actually go into a branch and request it in person. Also, when I worked at Scotiabank as a teller I was never allowed to create a draft for any amount over $1000 for a customer without my manager reviewing and signing the draft. So unless there just happened to be a TD Branch physically located in the casino and open at 11 pm, I don't see how Melnyk even had these drafts to give to the casino in the first place.

The super wealthy don’t really bank the same way that we do. My guess is that he has a private account and team that he can call 24/7.

 

[2CHAINZ]

It is amazing isnt it? $1.2 Bil in wealth but not enough liquidity to cover the bank draft. Puts his decisions to pay draft picks to avoid a signing bonus in perspective. It seems to be passing the fake news test. Seems to confirm our fears over Sens budget decision making.

I remember having a pokerstars account. Tried to develop a betting model. Did get a bankroll that rose for a while. Only playing 2 dollar sit and go's though, dont think i'd have the nads to play cash games. But it was amazing that suddenly there were no more americans playing. Heard many stories of people who had lots of money frozen in their pokerstars accounts that they could no longer cash out.

Have to think the leagues lawyers are following this? I hope someone asks Bettman if this is something that concerns him or where those lines might be drawn.

I am pretty sure but not certain that a bank issued you a draft so you have to have the money to have the draft issued. I am sure someone here knows for sure.

When the us shutdown pokerstars, full tilt and ultimate bet us players with a pokerstars balance were paid out immediately. Now full tilt and ultimate bet collapsed and players from all over the world couldn't get their money out. Pokerstars ended up paying like a billion dollars to the us government and another 750 million to acquire full tilt. After that all players balances were made available to them. Now ultimatebet took like 7 years and I believe it was last year that the us government used left over money to make those players whole.

Also regards to sngs they are more of a solved game then say cash games are especially back when you played (now online cash games especially holdem are pretty solved and also bot infested, I mainly play PLO cash games not really on the big online sites). Sngs are dead now because bots and real time solvers have solved those games so to play them now would be bankroll suicide. I also would never reccomend to anyone to play online poker in general you will basically be cheated out of your money at all stakes/limits.

TLDR: Play live poker it is still super profitable.

 

[Sens of Anarchy]

This is the part that confused me. Whenever I've had to issue a draft to someone I needed to actually go into a branch and request it in person. Also, when I worked at Scotiabank as a teller I was never allowed to create a draft for any amount over $1000 for a customer without my manager reviewing and signing the draft. So unless there just happened to be a TD Branch physically located in the casino and open at 11 pm, I don't see how Melnyk even had these drafts to give to the casino in the first place.

Yah no idea .. maybe the words are inaccurate.. My experience with bank drafts, is you basically purchase the bank draft and its made out to a 3rd party. I don't know if they can be made out to yourself for example and endorsed.. I am not sure what kind of financial instrument like a bank draft would have been available to Melnyk that he could have signed or handed over like that.

 

[Mark Effin Stone]

Mohegan Sun seeking to recover $900,000 from NHL team owner

 

[swiftwin]

And here we are again..

The owner is good. The owner is nice. All is good in Sens land didn't you know.

The NHL is going to love this one.

Is anyone even pro-Melnyk?

 

[2CHAINZ]

Is anyone even pro-Melnyk?

I don't think anyone is pro Melnyk but there are a few people who think this board is being ruined by comments like Melnyk is poor. So this thread is probably ruining their HF experience today.

 

[BonkTastic]

If I had to guess as to what the defence on this will be, and this is VERY obviously just a guess (and not based on any evidence whatsoever), it's that Melnyk doesn't think (or does't claim publicly, at the very least) that he did anything wrong, and that the casino should be pursuing the bank for not honouring the draft, not him personally for paying with drafts that didn't clear (for whatever reason).

 

[The Lewler]

If I had to guess as to what the defence on this will be, and this is VERY obviously just a guess (and not based on any evidence whatsoever), it's that Melnyk doesn't think (or does't claim publicly, at the very least) that he did anything wrong, and that the casino should be pursuing the bank for not honouring the draft, not him personally for paying with drafts that didn't clear (for whatever reason).

*Julie Turris "lol" *

 

[danielpalfredsson]

*Julie Turris "lol" *

Mr.Melnyk does not make the gambling operations decisions for this team. I, Pierre Dorion make the gambling operations decisions for this team.

 

[danielpalfredsson]

I still think stuff like this happening weekly is proof that it was way too heavy handed to close my "Are the Senators proof that we live in a computer simulation" thread.

 

[Tighthead]

Don't really know ... the only thing I can think of is that the documents were not real , they were made to look real enough to be accepted.. but that sounds pretty criminal and likely a stretch. I have no idea why they were not honored.

Pure speculation but perhaps he deposited funds into an account, perhaps by cheque, drafts were issued, and the deposit was phoney rendering the drafts null and void.

 

[dumbdick]

Is TD included in the suit? I suspect if it was suspected fraud this would be a criminal issue.

Seems like a pretty ridiculous stretch to suggest that melnyk the billionaire is out writing forged checks in a casino. If a newspaper suggested that in writing they would probably be sued for libel (provided it's false). But we'll see when all the facts come out, if they ever do.

 

[The Lewler]

Is TD included in the suit? I suspect if it was suspected fraud this would be a criminal issue.

Seems like a pretty ridiculous stretch to suggest that melnyk the billionaire is out writing forged checks in a casino. If a newspaper suggested that in writing they would probably be sued for libel (provided it's false). But we'll see when all the facts come out, if they ever do.

Yeah I dont think anyone thinks this is what happened.

Its not forgery. Its non payment.

 

[Engineer]

Yeah, there is a reason that none of the media here is covering the story.

https://www.cbc.ca/news/canada/ottawa/eugene-melnyk-lawsuit-casino-1.5283885

 

[FolignoQuantumLeap]

https://www.cbc.ca/news/canada/ottawa/eugene-melnyk-lawsuit-casino-1.5283885

Oopsiewoopsie

 

[Tnuoc Alucard]

I honestly think he just doesn’t give a crap. He probably has an existing relationship with this casino and they pissed him off so he found a way to stop payment. I’m willing to bet that he probably expected this law suit and doesn’t care. It’s how he argues with other adults.

You can't "stop payment" on a bank draft.


try again.

 

[Tnuoc Alucard]

It is amazing isnt it? $1.2 Bil in wealth but not enough liquidity to cover the bank draft.

A bank Draft is basically purchased, when a bank issues them for you to be used a payment ......... this guarantees the funds are held until the draft is cashed in.


The court documents allege Melnyk tried to pay the casino with five bank drafts totaling $900,000 over the weekend of March 17, 2017, and those drafts were then "dishonoured" by a bank.


Liquidity is not a factor here.

 

[DJB]

Good. Hopefully more ammo to force him to sell

 

[Tighthead]

Is TD included in the suit? I suspect if it was suspected fraud this would be a criminal issue.

Seems like a pretty ridiculous stretch to suggest that melnyk the billionaire is out writing forged checks in a casino. If a newspaper suggested that in writing they would probably be sued for libel (provided it's false). But we'll see when all the facts come out, if they ever do.

A civil suit doesn't mean there isn't a criminal issue.

 

[Rand0m]

A bank Draft is basically purchased, when a bank issues them for you to be used a payment ......... this guarantees the funds are held until the draft is cashed in.


The court documents allege Melnyk tried to pay the casino with five bank drafts totaling $900,000 over the weekend of March 17, 2017, and those drafts were then "dishonoured" by a bank.


Liquidity is not a factor here.

If liquidity isn’t a factor then, why has it taken 2 years and a lawsuit to try and get their money? Any “billionaire” could have an issue like this, but since they’re billionaires gambling a $1M over a few nights, they’d be able to fix the mistake ASAP. But not with broke Melnyk... there’s always a screw up with him.

 

[bert]

https://www.cbc.ca/news/canada/ottawa/eugene-melnyk-lawsuit-casino-1.5283885

YES! Its catching steam now.

 

[Maple Leaf Forever]

This is the part that confused me. Whenever I've had to pay a draft to someone I needed to actually go into a branch and request it in person. Drafts aren't like chequebooks you can just carry around and write up whenever you want. Also, when I worked at Scotiabank as a teller I was never allowed to create a draft for any amount over $1000 for a customer without my manager reviewing and signing the draft. So unless there just happened to be a TD Branch physically located in the casino and open at 11 pm, I don't see how Melnyk even had these drafts to give to the casino in the first place.

Good post ...very true ....the phrase of using bank drafts confuses me as well...it clouds the story.

 

[Do Make Say Think]

If I had to guess as to what the defence on this will be, and this is VERY obviously just a guess (and not based on any evidence whatsoever), it's that Melnyk doesn't think (or does't claim publicly, at the very least) that he did anything wrong, and that the casino should be pursuing the bank for not honouring the draft, not him personally for paying with drafts that didn't clear (for whatever reason).

The man just can't stop making enemies