One of my friends had been booking my bets a few years back and cut off my action as he couldn't get bettors betting as high as me. He put the operation on hold. He called me back with the proposition to go 50/50 on some guys and I told him I would help him get some players and eventually down the road go 50/50 with him once we got a bigger client list and I got home from school. Anyway, I was getting pennies as commission to settle everything every week between him and about 12 guys I had gathered from school. Baisically made $200 on the year but I was fine with that as the agreement was always I could take half when I wanted and we were both happy. My cousin and two friends really pounded him over a few weeks and really drained his whole roll out. He told me on the last week he couldn't afford to pay and he was tapped and that he would pay them in the future. I told them and they had understood. He still wanted to somehow keep his growing client list (about 30 in total) going so somehow he decided it would be best to run for a bigger book and just keep there action going and when he builds his roll get out and book himself. Now he got a great deal and making 30% off losses everything seemed good.
The third week I think it was, I checked the accounts and it was ugly. Down about $20,000 altogether. I e-mailed my contact to prepare to collect and he assured me everything would be fine. I didn't know the group of about 10 kids and he was my only contact to them and was in the process of getting a new phone so we were going off of e-mail. Thursday rolled around and sure enough everything wasn't fine. The kid was gone. I had always met him at class and now with no phone, address etc I had to relay the bad news to my soon to be partner. Anyway we still haven't found this kid. I told him I would help him pay a bit and he got onto a $500/week payment plan trying to pay it off. He still owes my cousin and two friends about $3k. I gave him about $750. The week before christmas he told me to e-mail him everything I knew about the kid EVERYTHING and I did and hadn't heard from him since. He didn't call me, I didn't call him, I was just hoping in my head they found him and things were resolved. Well now I got a call about 20 minutes ago saying he needs to sit down with me Thursday. Me, him, and his guy. Why? To make sure I would uphold my responsibility and contribute to the payment plan. This is extremley strange as I have never met his guy nor did I know he knew I existed. Something seems weird.
I feel I have little to no responsibility as I was making $0 off of this whole deal with the guy. I had the connect and was doing him a favor. What am I going to do if he doesn't pay? I don't know that much about him. He had never lost more then a g on a given week but he must have went on all these guys accounts and maxed them all.
Something feels off about this whole thing. Any opinions? Should I meet? Am I responsible?
The third week I think it was, I checked the accounts and it was ugly. Down about $20,000 altogether. I e-mailed my contact to prepare to collect and he assured me everything would be fine. I didn't know the group of about 10 kids and he was my only contact to them and was in the process of getting a new phone so we were going off of e-mail. Thursday rolled around and sure enough everything wasn't fine. The kid was gone. I had always met him at class and now with no phone, address etc I had to relay the bad news to my soon to be partner. Anyway we still haven't found this kid. I told him I would help him pay a bit and he got onto a $500/week payment plan trying to pay it off. He still owes my cousin and two friends about $3k. I gave him about $750. The week before christmas he told me to e-mail him everything I knew about the kid EVERYTHING and I did and hadn't heard from him since. He didn't call me, I didn't call him, I was just hoping in my head they found him and things were resolved. Well now I got a call about 20 minutes ago saying he needs to sit down with me Thursday. Me, him, and his guy. Why? To make sure I would uphold my responsibility and contribute to the payment plan. This is extremley strange as I have never met his guy nor did I know he knew I existed. Something seems weird.
I feel I have little to no responsibility as I was making $0 off of this whole deal with the guy. I had the connect and was doing him a favor. What am I going to do if he doesn't pay? I don't know that much about him. He had never lost more then a g on a given week but he must have went on all these guys accounts and maxed them all.
Something feels off about this whole thing. Any opinions? Should I meet? Am I responsible?