Quicktender

[TheCPA]

I think there was a legal separation at that very point for obvious reasons which are evident today.
At any rate, the QT thing is all really about U.S. Affiliates, not non U.S. affiliates.

Eco still will works for Non US affiliates, and if they are a separate legal entity,(Which I'm sure they are), Eco is not relevant to the Quicktender situation anymore, and hasn't been since they cut ties a few years ago. I'm sure someone will start all the,.... let's sue them nonsense,.... but we all know that won't happen either. lol

It sucks guys, but the best hope we have is that they release the QT affiliate funds back because they are affiliate service related payments not actually gambling related transactions. jmo

[mojo]

It sucks guys, but the best hope we have is that they release the QT affiliate funds back because they are affiliate service related payments not actually gambling related transactions. jmo

Disagree on that Nick. Whatever the relationship, QT was taking gambling major transactions for players and not just a source of affiliate related payments. In other words, whether your QT funds were affiliate related or player related is beside the point at this juncture.

They will release the funds because they legally cannot do otherwise (imho).

You brought up an excellent point at GIA Nick. It really is the jist of it:

'The Feds are going to break it down and destroy it. Then build it up again to their satisfaction and the way they want it to be.' Or something like that.

Completely agree with that. I'll just add my opinion that is the military way.

In a nutshell.

[TheCPA]

Maybe, but I think they can distinquish the difference between gambling transactions and affiliate transactions if they wanted to.

In the case of QT, I still think there's a chance it might all get released in the end since QT transactions don't represent QT's money if you follow that.

The places that had money frozen and domains confiscated belonged to the actual operators, so there there is a distinction there, IMO. QT Monies belong to the players and affiliates, not QT.
Just have to see how it all falls out.

[Amateur]

Nick,

I'm not so sure that Ecocard "separated themselves" in time to claim innocence. Until the day of QT's demise, Rival, at least still displayed the Ecocard interface when a player made a purchase through QT.

This says to me that right up until the end, QT was still accepting deposits through Ecoard. They can't have it both ways...ownership when things are good, divestiture when things go bad.

How is it valid to do business this way?

[TheCPA]

They would have been crazy not separate the two leagally. The purpose was to keep ECO out of the U.S..

There's nothing really wrong with having multiple, and legally separated companies. You would WANT to this in this type of situation so one cannot bring the other one down if a problem arises.

That's not to say someone couldn't try to pierce the Corporate Shell of Eco, but it would most likely be very expensive, and hard to do if they had good attorneys set it all up.

Just to be clear, I'm not saying that this is the case here, but I doubt they were stupid enough not to legally separate the two. That would totally blow my mind if they didn't! Then again, you never know in this biz! LOL

[GamTrak]

There's nothing really wrong with having multiple, and legally separated companies. You would WANT to this in this type of situation so one cannot bring the other one down if a problem arises.

I'm not a lawer, but I would say that if they were to be in trouble by the DOJ they would bring a charge similar to the RICO Act against them.

The RICO Act focuses specifically on racketeering, and it allows for the leaders of a syndicate to be tried for the crimes which they ordered others to do or assisted them,....

IMO If they intentionally created a separate company to do wrong then both companies will go down and if there is not currently a law regarding that then there will be one when the affidavit comes down.

[TheCPA]

Don't think I agree on that, but again, who really knows. Eco is totally legal, licensed, and fully registered in the UK. I suspect they have very good Counsel, and the DOJ has no authority there, especially in a legal online gambling country.

As for creating a separate company to guard against potential losses, or problems, it happens everyday. I myself have done this in the real world a few times. Had two retail corps, and one wholesale corp that supplied the two retails. Jobs that were high risk/liability went thru the small company to protect the larger/main retail corp. If any one of the three were to have gone down for any reason, it could not affect the others. This is fairly common practice to be honest.

Anyway guys, I'm spending too much time on this now! LOL Got to watch a Rays game, and think about the real world work for next week!!

I sure hope this pans out SOMEWAY for all of us, and the players too. that said, I still say this is the beginning of the U.S.,... or at least some states moving to legalize and regulate online gambling which I guess is the "Glass is Half Full" attitude! lol