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  • appguy

    Hey guys,

    New here. Does anyone have any experience with FantasyAces and their withdrawal times? I requested a $600 payout to PayPal 7 days ago and still have not received it. Their website says 24-48 hours.

    I would assume these smaller sites would have a heavier focus on customer service, which is why I chose FantasyAces (along with the smaller GPP games). Apparently not?

    MOD NOTE: FANTASYDRAFT PULLS OUT OF ACES DEAL, 1/30: In an official statement from FantasyDraft, the company has said “Unfortunately, because of issues identified during our due diligence, we are unable to purchase the assets of Fantasy Aces. We will continue to provide the best possible daily fantasy experience for our users, and are committed as always to putting our Players First.” We’ll post any additional news as it’s confirmed.

    MOD NOTE (Feb 1, 1:53 AM EST): FANTASY ACES HAS FILED FOR BANKRUPTCY Initially reported here.

    MOD NOTE (Feb 13, 8:40 PM EST): HUGE NEWS VIA FANTASY DRAFT, REIMBURSING FANTASY ACES PLAYERS Initially reported here.

  • ItzJamesFTW

    @kame222 said...

    Relax…no need to call names. This isn’t 5th grade. The post was not dated and I didn’t have any problems with them other than having to tell them to send my money after 2-3 days cause they never sent it unless I emailed them. This is however, a completely different story. Being late on deposits is one thing, leaving errrr selling and jumping ship in the middle of the night is completely different. This thing stunk from last Wednesday through the weekend and it’s far worse now. I was not the least bit optimistic from the time I woke up Thursday and I’m even less optimistic today. It is what it is…

    I agree this is absolutely a different story. This likely isn’t going to end well and I think Aces has handled everything about this situation about as badly as they possibly could (barring a miracle statement today). I just don’t like the “forest through the trees” comment because that’s absolutely not me at all. (And for fairness I never called you any names). A year ago Aces had a very high approval rating around here and virtually everywhere else. I guess maybe I have a few issues with people who just go to social media or forums when they have a small withdraw issue instead of just contacting support and working it out with them. It goes without saying that not everyones experience is the same, but I see nothing wrong with sharing my perspective/experience without getting thrashed (or having people dig through Reddit and make assumptions)

  • btwice80

    This is upsetting. I’m very upset.

  • kame222

    Jjwd must be livid! I would be. Dude had 7 of the top 10 spots in a tournament that should have never been played. Looks like we were “played” Wednesday night…

  • dude_abides7

    @ItzJamesFTW said...

    A year ago Aces had a very high approval rating around here and virtually everywhere else.

    So did OJ Simpson before he decided to butcher two people to death with a kitchen knife.

    The point, a ‘perfect reputation’ can be soiled in an irreversible way in a blink of an eye.

  • ItzJamesFTW

    @dude_abides7 said...

    So did OJ Simpson before he decided to butcher two people to death with a kitchen knife.

    The point, a ‘perfect reputation’ can be soiled in an irreversible way in a blink of an eye.

    Obviously. I just don’t know how that tied into me defending them when they were unsoiled a year ago. But it’s whatever. Just going to move on from that one.

  • dude_abides7

    @ItzJamesFTW said...

    Obviously. I just don’t know how that tied into me defending them when they were unsoiled a year ago. But it’s whatever. Just going to move on from that one.

    What it means is that some offenses are reprehensible and past standing is irrelevant. The plane has crashed into the mountain because evidently the pilot was drunk. But because you pegged him as a good guy everyone else should limit their anger and frustration. Do I have the heart of it?

  • britdevine

    • 2014 StarStreet MLB Playboy Mansion Finalist

    If someone wants to start getting some info on Aces owners into the thread, along with some California BBB contact information and California AG contact information, NYS Gaming info etc. I think it’s time to put some public pressure on them to make a statement and have us start contacting proper authorities if our money is indeed stolen since they apparently don’t want to make a statement.

    The Aces guys have been nothing but nice to me personally and the community over the years, but with a fairly large sum on there along with plenty of others that have significant money on there, we need to start pushing for a resolution ASAP.

    It’s also a pretty bad look on the regulators if Aces did have permits to operate and were allowed to use player funds as operations. We need to hear a statement ASAP from Aces, the silence is not good as one would think they would have immediately re-opened for withdrawals if everything was on the up and up.

  • TheAdman01

    I will do some digging brit. But we could start out with getting some reps at the FSTA emails: info@fsta.org; Press & Public Relations: media@fsta.org. I do believe FA was a vetted member. I am sure if this got out into the public it would be another black eye for the industry

  • TheAdman01

    And before anyone goes nuts, I know its not gambling, but this is probably the most relevant contact: sorry the AG does not have a link for—-DFS website withholding player funds

    Department of Justice
    Bureau of Gambling Control
    P.O. Box 168024
    Sacramento, CA 95816-8024
    Email:GamblingControl@doj.ca.gov

  • Messiah717

    I’m not sure but didn’t one story state that several of the Aces executives had resigned?

  • therayray81

    • 2011 FanDuel WFFC Finalist

    • 2012 DraftStreet DSFC Finalist

    Thanks for pointing out the obvious…

  • oldschoolways

    Some contact info here: http://www.otcmarkets.com/stock/FASDF/news?id=132703

  • trevor_holda

    it’s trent@fantasyaces.com and he owes me 630

  • killab2482

    • 102

      RG Overall Ranking

    • Ranked #77

      RG Tiered Ranking

    • 2018 DraftKings FBBWC Finalist

    • x2

      2013 FanDuel WFFC Finalist

    I want to make a post on this Fantasy Aces situation. I did have a personal call with Trent on Thursday morning. He really did think FantasyDraft was buying Aces. Now that we know the sale is not going through I think we legitimately have to give them some time to reopen their website. With all that said, restricting players from their balances for over 6 days(4 biz days) is unacceptable. I don’t think we can just put 100% blame on FA. They thought FD was purchasing their company and they obviously did not do enough background research on FA before committing to buy them. This is ridiculous in my eyes. I think blame can be spread 60/40 on this whole situation. I know the guys behind Fantasy Aces enough to say they will do what is right here with 100% confidence. I personally have over 10k in my account, but I’m still not ready to smear FA’s name through mud until I get more info.

  • OsRitmos

    Who would trust their money on there at this point? They need to make a statement re: the bank statements, whether real or not, if they want to re-open. I can’t imagine anyone confidently depositing money on there again if they have that much debt.

  • Jc801

    Hope your right I over 5k in my account.

  • trevor_holda

    Oh I can blame FA as much as I want, went they dont honor a cpa contract and pull all this shady shit. I appreciate your optimism.

  • epeng

    To the best of my understanding (I’m not a corporate lawyer, so please correct me if you have more information here), public companies (Fantasy Aces is public) need to publicly announce a M&A before the deal is closed. Part of the reason for this is that shareholders need to be informed of the deal prior to employees, presumably to prevent insider trading.

    While this explains the announcement prior to deal close, it doesn’t explain why Fantasy Aces took down their site while waiting for the deal to close. Nor does it explain the late payments and lack of communication to the community. Additionally, companies should do a lot of due diligence prior to signing a deal, so a last minute pullout raises pretty significant alarms.

  • wolfpack8181

    I am curious on why it was mentioned they resigned? The company was sold who cares if you had a position or a current title unless something wasn’t right and they all jumped ship.

  • OsRitmos

    Seems fishy. If something was awry behind the scenes it doesn’t matter if they jumped ship – they’ll still be held accountable (depending on when they joined the company).

  • TheAdman01

    OsRitmos, not necessarily. If this was incorporated, in order to hold the principals of said company personally liable, the corporate veil would have to be pierced. In CA, generally, to pierce a corporate veil the plaintiff must prove two things: (1) there is a “unity of interest and ownership” between the corporation and its owner, and (2) it would be unfair if the acts in question are treated as those of the corporation alone. Given this vague standard, California courts have developed a number of factors they will consider when determining whether this two part test is met, including:

    1.  Commingling of funds and other assets, failure to segregate funds of the separate entities, and the unauthorized diversion of corporate funds or assets to other than corporate uses;
     
    2.  Treatment by an individual of the assets of the corporation as his own (e.g., paying personal debts with corporate funds);

    3.  Failure to obtain authority to issue stock;

    4.  An individual stating that he or she will be liable for the debts of the corporation;

    5.  Failure to follow corporate technicalities, such as maintaining records, holding board or shareholder meetings, or having officers;

    6.  When two corporations are claimed to be alter egos, both corporations having identical owners, directors and officers;

    7.  Same office or business location;

    8.  Employment of the same employees and/or attorney;

    9.  Failure to adequately capitalize a corporation, the total absence of corporate assets, and undercapitalization;

    10.  Use of a corporation as a shell or as an instrument for a single venture (e.g., using a corporation to enter contracts that personally benefit the owner or one of the owner’s other companies);

    11.  Concealment or misrepresentation of the identity of the responsible ownership, management and financial interest;

    12.  Use of the corporate entity to procure labor, services or merchandise for another person or entity;

    13.  Diversion of assets from a corporation by or to a stockholder or other person or entity, to the detriment of creditors;

    14.  Manipulation of assets and liabilities between entities so as to concentrate the assets in one and the liabilities in another;

    15.  Contracting with another with intent to avoid performance by use of a corporate entity as a shield against personal liability;

    16.  Use of a corporation as a subterfuge of illegal transactions;

    17.  Formation and use of a corporation to transfer to it the existing liability of another person or entity.

  • jjwd

    @killab2482 said...

    I did have a personal call with Trent on Thursday morning.

    Props to killab, let’s hold out some hope, good info.

  • LSRDustin

    @killab2482 said...

    Now that we know the sale is not going through I think we legitimately have to give them some time to reopen their website.

    This is nonsense. The reason they gave for not being open/not allowing players to access to their accounts was the sale.

  • LSRDustin

    @britdevine said...

    ing some info on Aces owners into the thread, along with some California BBB contact information and California AG contact information, NYS Gaming info etc

    Some of it has been collected here: http://www.legalsportsreport.com/12848/fantasydraft-fantasy-aces-deal-fails/

  • KindGuy

    This is why I always have stuck with the big two. Sure, I’ve played sparingly on Yahoo, Aces, Draftpot, etc. but nothing major.

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