WSEX ties to Stanford Financial? ponzi scheme

[WhiteShoes]

WSEX could be in major financial trouble. Withdrawals, if you are lucky enough to get one, are taking two months.

The island of Antigua is not very big, and the biggest bank on the island is Stanford Financial. In fact, Stanford Financial is the biggest bank in the entire Caribbean. Don't think for a second WSEX doesn't keep their funds there. Where else can they keep them? Not in any American bank, that's fore sure. (The owners of WSEX have been on the run from the US Gov't ever since WSEX started online gambling)

If you've been following Stanford Financial's massive ponzi scheme, you know how bad it is. Allen Stanford, a resident of Antigua, is currently sitting in a US jail awaiting trial. Imagine being a business on that small island of Antigua with your funds frozen. WSEX withdrawals are taking 2+ months because their funds are most likely frozen!
WSEX is desperately trying to hold on until football season starts and they get new deposits.

Be careful.

Also, Matchbook.com & WSEX are owned by the same people.

[durito]

I see people keep speculating on this.

The only problem is that WSEX had the same payout issues BEFORE the Stanford Financial stuff happened.

[RickySteve]

What is the wait time on e-wallet and B2B transfers?

[betpartners]

Nice first five posts WhiteShoes

All the exact same posts word for word copy and pasted

Whats your agenda here

[SSLP]

lol , WSEX doesnt share ownership with Matchbook

[durito]

What is the wait time on e-wallet and B2B transfers?

After the super bowl they were taking weeks on e-wallets.

B2B is still a matter of hours but they've cut the limit to $2,500 a week at $50 a pop.

[WSEX]

WSEX has never done any business with Stanford International Bank, Stanford Financial, or ANY of its subsidiaries or related companies.

The original post in this thread is pure slander. It should be deleted.

WSEX has NEVER been on the run from the US Government or anyone else. WSEX is one of the few operations that has consistently stood up and fought for your right to gamble online.

Regarding withdrawals, expect to see some major improvements in the next week to ten days.

WSEX

[WSEX]

WSEX has never done any business with Stanford International Bank, Stanford Financial, or ANY of its subsidiaries or related companies.

The original post in this thread is pure slander. It should be deleted.

WSEX has NEVER been on the run from the US Government or anyone else. WSEX is one of the few operations that has consistently stood up and fought for your right to gamble online.

Regarding withdrawals, expect to see some major improvements in the next week to ten days.

WSEX

[Justin7]

Whiteshoes,

Do you have any facts to support this? Or just talking crap? These are serious allegations you've carefully suggested without concluding.

[Dank_Fire]

WTF Whiteshoes??

[Peep]

He is a one post wonder.

But WSEX should just pay their players.

I remember about 7 or 8 years ago there were a bunch of rumours about how Pinnacle was broke, their low juice model was a failure etc. Pinnacle did not say a word. All they did was pay players with e-wallets in 15 minutes like they always have, and send out checks in a timely manner like they always have.

If you pay, rumours do not matter. If you don't, you leave yourself open to speculation......

[WhiteShoes]

Of course WSEX is going to react like that. Complete denial.

Why are WSEX withdrawals taking 2 months? There must be a reason. WSEX's competitors send out withrdrawals that are received in 48 hours.

I've read it elsewhere on the net, and yes it could be speculation, but it also could be true. WSEX has their offices a few miles from the largest bank in the entire Caribbean, but yet they choose not to use that bank?? Keep in mind WSEX is forbidden to use any US Bank.

WSEX needs to fix their 2 month withdrawal time, and their moneylines are the widest in the industry; a real ripoff.

As for the WSEX poster above, he is wrong. WSEX owners ARE under US indictment and have been for 10 years, and if they return home to the US they'll be thrown in jail. Just look for the many links on Google about this case. Here is a quote from one:

"In addition to determining the course of three lives, the appeals court’s ruling may have a broad impact on Internet law. Among the legal issues the judges are being asked to consider is exactly where transactions occur in cyberspace — on a Web site’s servers or on a user’s computer. A ruling could set a precedent not only for criminal jurisdiction questions, but eventually on such issues as online taxation.
Cohen, Schillinger and CEO Hayden Ware have the most recognizable faces in online gambling because of their unusual willingness to talk publicly about their business, World Sports Exchange, and — after their indictments in 1998 — their legal problems.
The trio doesn’t fit the “Guys and Dolls” stereotype that prevails for members of their profession. All are articulate and clean cut, Schillinger’s fondness for beach bum wear notwithstanding. Cohen and Schillinger are former stock traders on the Pacific Stock Exchange in San Francisco; Ware, 25, still has the preppy good looks of a college student, which is what he was before taking a sabbatical in 1996 to help Cohen and Schillinger set up shop in Antigua.
To the U.S. government, however, the wrapping is immaterial.
‘Criminals ... seeking refuge'
“Criminals cannot avoid responsibility for federal crimes by seeking refuge in offshore locations,” U.S. Attorney Mary Jo White said in March 4, 1998, in announcing charges against Cohen and 13 others in first federal prosecutions for online gambling. Schillinger and Ware were charged later in a second round of criminal complaints.
The indictments brought the three men to a crossroads. Cohen returned to the United States to fight the charges while Schillinger and Ware remained behind to run the business, which in addition to straight bets offers “sports futures” that trade much like stocks, rising and falling depending on the performance of an individual or team."

[durito]

Their check withdrawals were taking that long well before Stanford happened. Guess again.

[Chuck Sims]

Wsex

Hey WhiteShoes aka shit for brains. WSEX withdraw requests via transfers processed in less than an hour. As durito keeps pounding into your hollow head, WSEX was slow to pay because of processing issues months before the Stanford Financial mess. This exposes you as one dumb ****.

Bottom line, everyone has been paid. No one has been stiffed at WSEX. I do not like the miniscule $2500 max per week transfer or delays in processing checks but I trust things will improve at WSEX.

[Dark Horse]

WSEX has never done any business with Stanford International Bank, Stanford Financial, or ANY of its subsidiaries or related companies.

The original post in this thread is pure slander. It should be deleted.

WSEX has NEVER been on the run from the US Government or anyone else. WSEX is one of the few operations that has consistently stood up and fought for your right to gamble online.

Regarding withdrawals, expect to see some major improvements in the next week to ten days.

WSEX

Could you be specific about the connection between WSEX and Matchbook.

There is confusion about this. We've seen suggestions - from SBR John in the past - that one person may have ownership in both companies, but there is also this:

http://www.sportsbookreview.com/sbr/matchbook/ which states that WSEX is the parent of Matchbook.

Why so vague about this? It's not exactly reassuring to players.

[ScottB]

1

[Bill Dozer]

WSEX is majority owner of Matchbook. We've said this before and the rating guide is correct. WSEX stands by the balances at MB.

[durito]

WSEX is majority owner of Matchbook. We've said this before and the rating guide is correct. WSEX stands by the balances at MB.

what about the balances at WSEX?

[Bill Dozer]

Of course WSEX is going to react like that. Complete denial.

Why are WSEX withdrawals taking 2 months? There must be a reason. WSEX's competitors send out withrdrawals that are received in 48 hours.......

WSEX is in a similar situation to where Bodog was. Industry processing and processing options in general have gotten better all around so we expect them to join the pack and be able to move player funds. It would be good if WSEX wasn't maketing to players until they get their ducks in a row. Hopefully we will see the flow of withdrawals soon and don't have to worry about new players being disappointed.

[KGambler]

Regarding withdrawals, expect to see some major improvements in the next week to ten days.

WSEX

Well today it was announced that anyone who has deposited by credit card, Western Union or Moneygram at any time in the past will not be eligible for interbook transfers. I really hope this is not what you had in mind.

[KGambler]

what about the balances at WSEX?

Exactly.

I much rather hear "Matchbook stands by the balances at WSEX".

[KGambler]

Hey WhiteShoes aka shit for brains. WSEX withdraw requests via transfers processed in less than an hour.

As of today, they DON'T process interbook transfers.

It seems that you are not nearly as smart as you think you are. Only the rankest of suckers can't see the writing on the wall, but I guess there will always be rubes who have to learn the hard way.

[KGambler]

WSEX is in a similar situation to where Bodog was.

Ok, then why not give them the rating that Bodog had at that time?

In light of today's rule change regarding interbook transfers, how can they not be downgraded? Every week their withdrawal terms get more onerous and obstructionist. They are obviously having a liquidity crisis, and of course that could also mean that they are simply bust.

[durito]

This is clearly not like what happened at bodog. They lost their processors, got way backed up, caught up and haven't missed a step since. They were processing e-wallets same time as always.

WSEX was slow paying e-wallets earlier this year, and is still using the same processors. They've been slow paying for about 8 months. Now they are effectively eliminating what was the only easy way to get out, b2b.

[Dark Horse]

WSEX is majority owner of Matchbook. We've said this before and the rating guide is correct.

News to me. The rumor was always there, but I certainly missed the official confirmation.

WSEX stands by the balances at MB.

What else are they going to say? If WSEX would ever be in serious trouble the money is 'right there'. In that sense, it could be a good thing that WSEX has delays. And, perhaps, not such a good thing if the problem was suddenly resolved. But we don't even know what the problem at WSEX is...

If any book has a stand-up reputation it is WSEX. Right? So this lack of transparency, at a time when the book is experiencing a hiccup (?), is really troubling. In this day and age, in this economy?!

Don't the players have a right to know what is going on, and where they're putting their money? And what are the legalities (if any) that the players are looking at in terms of the security of funds at MB? What are the laws on the island?

Without creating panic, and without spinning things, could you (SBR or WSEX) give us the best and worst case scenarios? Straight up. So that each of us can make an informed decision.

[KGambler]

Without creating panic, and without spinning things, could you (SBR or WSEX) give us the best and worst case scenarios? Straight up. So that each of us can make an informed decision.

No, WSEX cannot do that.

If they work for WSEX, their job will be to lie to you. I can never understand why people tend to believe it when the CEO of some failing corporation goes on CNBC and talks about how great things actually are. IT IS THEIR JOB TO CONVINCE YOU THAT EVERYTHING IS OK. Do you really think some sportsbook run out of Antigua is going to act any differently?

Nothing to see here, move along...

Don't believe anything WSEX says here or on any other forum. It's nothing personal. It's their job to convince you that your money is safe. Just pay attention to their ACTIONS. The words mean nothing unless they are backed up with ACTIONS.

They will not come here and tell you the truth. No one will ever come here and write, "Yeah, things are really terrible. We're trying our best, but to be honest, things don't look good!" That doesn't happen.

Worst case is they can't and won't pay you.

[RickySteve]

Dear Sir,



Unfortunately, we are not able to process your request.



As per management, customers who have deposited using credit cards, Moneygram and western union transfers are not eligible for an interbook transfer.



We apologize for the inconvenience caused.



Regards,



Sharon



World Sports Exchange

Accounts Department

accounts@wsex.com

1 888 671 3253

1 268 480 3880

.

[Dark Horse]

No, WSEX cannot do that.

If they work for WSEX, their job will be to lie to you. I can never understand why people tend to believe it when the CEO of some failing corporation goes on CNBC and talks about how great things actually are. IT IS THEIR JOB TO CONVINCE YOU THAT EVERYTHING IS OK. Do you really think some sportsbook run out of Antigua is going to act any differently?

Nothing to see here, move along...

Don't believe anything WSEX says here or on any other forum. It's nothing personal. It's their job to convince you that your money is safe. Just pay attention to their ACTIONS. The words mean nothing unless they are backed up with ACTIONS.

They will not come here and tell you the truth. No one will ever come here and write, "Yeah, things are really terrible. We're trying our best, but to be honest, things don't look good!" That doesn't happen.

Worst case is they can't and won't pay you.

Well, their actions so far are positive in that MB funds haven't been touched. That's a good thing.

And I don't believe that WSEX will necessarily act like the CEO of a US company. These guys have left the US, one of them did time in the US, and they always stood their ground. They deserve our respect for that. These are the good guys. And I also think that we can expect honesty from them, unless they're afraid. But they weren't afraid before. Honesty and trust go hand in hand. Just tell us what the scoop is. Probably, in the long run, it's not a big deal. But if it could be, don't join the ranks of the cheaters. Please.

[KGambler]

Well, their actions so far are positive in that MB funds haven't been touched. That's a good thing.

In other positive news, they probably haven't molested any children. Why would you consider it a plus that they haven't robbed from a seperate company, which they only partially own?

And I don't believe that WSEX will necessarily act like the CEO of a US company. These guys have left the US, one of them did time in the US, and they always stood their ground. They deserve our respect for that. These are the good guys.

I understand why you respect Jay Cohen. I would be careful of going overboard though. We're not talking about a guy who gave up all of his worldy possessions in order to work with the poor of Calcutta. Let's hold off on the beatification (sp?) for now.

And I also think that we can expect honesty from them, unless they're afraid. But they weren't afraid before. Honesty and trust go hand in hand. Just tell us what the scoop is. Probably, in the long run, it's not a big deal. But if it could be, don't join the ranks of the cheaters. Please.

No bank or financial institution (or sportsbook!) would ever honestly tell it's depositors, bondholders, stockholders or customers that they are in serious danger of failing. They can't, because then there would be a run on the bank, and they would definitely fail. I am sure you already know this, because you qualified your statement with "unless they are afraid". Well, if they are in trouble they will obviously not be able to tell us. They will instead insist that everything is "business as usual".

Please don't believe what they tell you. Please pay attention to their actions instead. Maybe they will get things sorted out and things will go back to normal, but don't believe that this is likely just because that is what they tell you.

[durito]

Well, their actions so far are positive in that MB funds haven't been touched. That's a good thing.

How could you possibly know that?

[durito]

I used to think it was a simple processing issue and that they only could process a certain about, and being that matchbook is more likely to be more profitable in the future that they were simply prioritizing the matchbook withdrawals. They do after all come from the same processors and matchbooks take a day and wsex's a month or two.

That can't be the case anymore.

[Dark Horse]

How could you possibly know that?

Because they could have steered around this:

I used to think it was a simple processing issue and that they only could process a certain about, and being that matchbook is more likely to be more profitable in the future that they were simply prioritizing the matchbook withdrawals. They do after all come from the same processors and matchbooks take a day and wsex's a month or two.

That can't be the case anymore.

If it had been a matter of saving face, or not creating waves, they could have gotten around it. But they didn't. Does that mean that no funds were transferred? Who knows for sure? But if they had gone that route, why not do it 'right' and avoid all controversy?

I want clarity as much as you, but so far it's mostly reading between the lines.

[Chuck Sims]

As of today, they DON'T process interbook transfers.

It seems that you are not nearly as smart as you think you are. Only the rankest of suckers can't see the writing on the wall, but I guess there will always be rubes who have to learn the hard way.

Are you really this stupid? I deposited to WSEX via b2b transfer, therefore WSEX will still being doing interbook transfers in my case and others. Is that not correct shit for brains?

[JoshW]

People speculated about this when Stanford happen. I even looked into it, but there was never any link between WSEX and Stanford's banks. WSEX certainly has payment processing issues, but they were happening before Stanford, and have actually gotten better since then.

[tomcowley]

Except for the ever-decreasing, and now virtually nonexistent b2b transfers- most people can't even transfer to matchbook anymore. They're obviously illiquid.