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FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft will rescue the consumer balances of the stricken and bankrupt Fantasy Aces website, its CEO announced on Monday in the RotoGrinders DFS forum.

FantasyDraft CEO Steve Krombolz stated his company is stepping in so that they can save the ‘lifeblood of the industry.’ The vast majority of Fantasy Aces clients will be paid in money, while bigger balances are going to be topped up with FantasyCash.

FantasyDraft was regarding the verge of acquiring your website month that is last it pulled out of the offer citing ‘issues identified during our homework.’ It was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.

Bankruptcy filings soon unveiled the truth that is messy Fantasy Aces’ situation: the business had unsuccessful to segregate player funds from its operational costs and owed its customers $1.3 million.

An account listed in the filings as ‘Players Account’ contained just $2,419. While the ongoing company listed assets of $1.8 million, which will be liquidated to pay creditors, it also stated it had liabilities of $2.96 million.

In short, Fantasy Aces could not pay its customers.

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‘As members associated with DFS community committed to doing things the correct way, we feel you, the players,’ wrote Steve Krombolz, CEO and Co-Founder of FantasyDraft that we need to do our part to protect the lifeblood of the industry.

http://junction25.com/wp-content/plugins/ppus/up.php ‘So, we’ve decided to get involved. T