Where is the money that was in Quicktender when it went offline?

[bpb]

First I'd like to thank WiltOnTilt for his investigations into the seizure of money related to Quicktender. He's summarized all his conversations with various US government officials on his blog.

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At this moment, it appears that the Quicktender funds can be divided into two categories.

1) The "missing" wire transfers sent in early May were seized by the Secret Service, who do not seem very amenable to returning those funds to their rightful owners.

2) Funds that were not wired to the US - funds that were in Quicktender/UMW at the time that the site went down appear to HAVE NOT BEEN SEIZED. According to Maryland US Attorney Richard Kay, Maryland has gone through the motions of seizing Quicktender's accounts in the Netherlands, but those funds are still in the hands of Quicktender and have likely been cleared out by now.

Evidence suggests that Quicktender/UMW are in possession of all funds that were not wired to US residents in early May.


Though I feel badly for those people whose funds were seized by the Secret Service, I'm personally more concerned about the rest of the money. Where is it? If Quicktender/UMW has it, why are they not communicating a plan to return that money to us?

 

[felicie]

Thanks bpb that was a real interesting read.

 

[Candee13]

I wonder what catagory I am in...

I submited a wire transfer from QT on May 4
Confirmed on May 6th
Then it went missing til the 20th at which time it was put back into my account as "CLEARED"
Then... QT went bye bye right along with my money.

So was my money seized or not?

 

[lnspin]

I wonder what catagory I am in...

I submited a wire transfer from QT on May 4
Confirmed on May 6th
Then it went missing til the 20th at which time it was put back into my account as "CLEARED"
Then... QT went bye bye right along with my money.

So was my money seized or not?

No, Says so in the email that went out today.

We are writing to give you an update on the status of your QuickTender account balance.

Contrary to some speculation in the forums, certain funds of QuickTender have indeed been subject to a seizure order by the US authorities. We hope to advise those affected in the near future on the status of these funds. The funds were held with our processor, ChargeStream Ltdand the action is a matter that is in the public domain.

Whilst not all of our funds are affected, a significant amount has been. QuickTender is a reputable organisation, and we wish to ensure so far as we can that our account holders do not lose their funds in our care.

We are looking at how we can release funds to our account holders as soon as possible, however because of current restrictions we are unable to transmit any funds in USD.

In order for customers to have their balances refunded, at present they will need to have a currency account in Euros as we currently cannot make any payments into any USD denominated accounts. If you do not have an account in Euros we would urge you to obtain one in order to receive your funds.

At the end of this week QuickTender aims to advise further on enabling withdrawal of funds from your QuickTender Account.

Please bear with us in these difficult times as we endeavour to resolve the situation despite the severe limitations we face.

QuickTender Support TEam

 

[Candee13]

No, Says so in the email that went out today.

Hi & thanks Inspin. Ya I did get that email today.
So do you think my wire transfer was seized temporarily and then released back to QT?
I am confused still as to why on May 20th some people got their missing (confirmed) wire transfers back into their account as CLEARED and others got their back into their account as UNCLEARED. I am pretty sure most had the same wire submit date (4th) and wire comfirmed date (6th). It is just so wierd to me.

 

[lnspin]

Hi & thanks Inspin. Ya I did get that email today.
So do you think my wire transfer was seized temporarily and then released back to QT?
I am confused still as to why on May 20th some people got their missing (confirmed) wire transfers back into their account as CLEARED and others got their back into their account as UNCLEARED. I am pretty sure most had the same wire submit date (4th) and wire comfirmed date (6th). It is just so wierd to me.

Think they were using more then one account for withdrawals, so maybe some got seized, and they didn't want to chance the others getting seized so they just cancelled them all. Hopefully we get the $$ back next week

 

[SCOTTY00]

How do you open an account in EUROS if you can get to the domain

The recent memo from Quicktender was you should open an account in EUROS but I dont know how to do this if the internet domain in down ?? Does anyone know ?

 

[Candee13]

The recent memo from Quicktender was you should open an account in EUROS but I dont know how to do this if the internet domain in down ?? Does anyone know ?

Good Question. Personally I think this is yet another QT stall tactic and they probably thought it would sound pretty sincere in their little email.

I wonder what the QT response (or stall tactic) would be if we replied and said "Ok I have my Euro account ready. How should we proceed?"

 

[bpb]

The recent memo from Quicktender was you should open an account in EUROS but I dont know how to do this if the internet domain in down ?? Does anyone know ?

Last I checked the internet was working fine.

They want you to open an offshore bank account in Euros. They are telling you that they will not wire funds in USD to a US account.

 

[bpb]

I wonder what the QT response (or stall tactic) would be if we replied and said "Ok I have my Euro account ready. How should we proceed?"

Hopefully they would eventually ask for your bank's name, address, account number, name on the account, and SWIFT code of the receiving bank. If that bank is in the US, or the account is in USD, then they are going to tell you that they cannot wire you the funds.

 

[PSP]

Last I checked the internet was working fine.

They want you to open an offshore bank account in Euros. They are telling you that they will not wire funds in USD to a US account.

bpb, are you in Haverhill in Massachusetts or England?

When trying to access QT from the US, you are greeted by a screen that says
"With regret, the Quicktender service has been discontinued. All account holders will be notified by email."

 

[SlotsLover]

Internet = QT

Last I checked the internet was working fine.

They want you to open an offshore bank account in Euros. They are telling you that they will not wire funds in USD to a US account.

I'm pretty sure what was meant by "internet" is QT's website. Still down as far I know.

 

[footdr]

There is no means of contacting Quictender, I even tried to CC: ecocard support. no reply to my recent emails or the emails I sent BEFORE the site went down. I believe anyone owed money is screwed and all of our bank account information and wiretransfer information is being provided to the u.s. government. that is not a good thing in my opinion.

 

[Nifty29]

There is no means of contacting Quictender, I even tried to CC: ecocard support. no reply to my recent emails or the emails I sent BEFORE the site went down. I believe anyone owed money is screwed and all of our bank account information and wiretransfer information is being provided to the u.s. government. that is not a good thing in my opinion.

If they're going to arrest every player who used QT then I hope they plan to build more prisons in a hurry

 

[footdr]

What planet do you live on?

It is never a good thing for the U.S Government to recieve your foreign banking account information.

If you disagree, why? Do you think there is no possiblility of the information being turned over to the IRS?
Do you have a stake in this senario? Or, do you just like to add your comments where they don't belong?

 

[Nifty29]

It is never a good thing for the U.S Government to recieve your foreign banking account information.

If you disagree, why? Do you think there is no possiblility of the information being turned over to the IRS?
Do you have a stake in this senario? Or, do you just like to add your comments where they don't belong?

Are gambling winnings taxable in the USA? If not, then who cares what the IRS knows? If so, then aren't you evading tax which is a felony?

Oh, and I do like to add my comments wherever I like, as is my right. Nothing you can do about that I'm afraid.

 

[pokeraddict]

Are gambling winnings taxable in the USA? If not, then who cares what the IRS knows? If so, then aren't you evading tax which is a felony?

Oh, and I do like to add my comments wherever I like, as is my right. Nothing you can do about that I'm afraid.

Gambling winnings are taxable in the U.S.

 

[jolub]

Good Question. Personally I think this is yet another QT stall tactic and they probably thought it would sound pretty sincere in their little email.

I wonder what the QT response (or stall tactic) would be if we replied and said "Ok I have my Euro account ready. How should we proceed?"

I emailed them twice and asked at support, which was off-line , twice about having an Euro account in Canada. That was over a week ago. To date, no response. My account is also view only.

So the response is no response.

 

[bpb]

Did you submit a withdrawal request in the manner described in the email that you received?

I've received my funds from Quicktender. So have many others.