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FantasyDraft Bails Out Fantasy Aces, Will Pay Player Balances

FantasyDraft will rescue the client balances associated with the stricken and bankrupt Fantasy Aces internet site, its CEO announced on Monday regarding the RotoGrinders DFS forum.

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

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

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

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

In short, Fantasy Aces could not pay its customers.

99.6 Percent to Get Money

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

‘So, we’ve decided

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