What Happens When a Stockbroker Goes Bust? (investopedia.com)

If a big one fails, you wouldn't get shares back. Insurance most likely doesn't cover it because they don't have enough money. Shares should be there but for them to fail, something bad would have to be going on so they probably don't have enough shares. At best you end up with cash value at the point of failure.

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This is very different than that.  It is the same as a payroll clerk embezzling.

What Is a Fidelity Bond?

A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. Also known as an honesty bond, this form of insurance can protect against monetary or physical losses
 
I would be very surprised if the Jags don't have this basic business insurance. Now there is a deductible.  I unfortunately had experience with this.  Prosecuted, person went to jail (3 to 5) and was required upon release or parole to repay the deductible or serve a bunch more time. That is why my advice to FanDuel was to come to agreement with the Jags privately and not make an enemy of an NFL owner.

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A new broom always sweeps clean.

If a big one fails, you wouldn't get shares back. Insurance most likely doesn't cover it because they don't have enough money. Shares should be there but for them to fail, something bad would have to be going on so they probably don't have enough shares. At best you end up with cash value at the point of failure.

Sent from my SM-T970 using Tapatalk

This is very different than that.  It is the same as a payroll clerk embezzling.

What Is a Fidelity Bond?

A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. Also known as an honesty bond, this form of insurance can protect against monetary or physical losses
 
I would be very surprised if the Jags don't have this basic business insurance. Now there is a deductible.  I unfortunately had experience with this.  Prosecuted, person went to jail (3 to 5) and was required upon release or parole to repay the deductible or serve a bunch more time. That is why my advice to FanDuel was to come to agreement with the Jags privately and not make an enemy of an NFL owner.

So debtors prison does exist. Lol

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This is very different than that.  It is the same as a payroll clerk embezzling.

What Is a Fidelity Bond?

A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. Also known as an honesty bond, this form of insurance can protect against monetary or physical losses
 
I would be very surprised if the Jags don't have this basic business insurance. Now there is a deductible.  I unfortunately had experience with this.  Prosecuted, person went to jail (3 to 5) and was required upon release or parole to repay the deductible or serve a bunch more time. That is why my advice to FanDuel was to come to agreement with the Jags privately and not make an enemy of an NFL owner.

So debtors prison does exist. Lol

For thieves it does, not debtors. Took the person 10 years to repay the deductible (no interest) the whole time they had to stay on probation till done.

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A new broom always sweeps clean.

So debtors prison does exist. Lol

For thieves it does, not debtors. Took the person 10 years to repay the deductible (no interest) the whole time they had to stay on probation till done.

Yea I know, just funny we care that much about money as a society. To steal it first and then to punish for it.. when the richest people all stole it from someone they just had more lawyers

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For thieves it does, not debtors. Took the person 10 years to repay the deductible (no interest) the whole time they had to stay on probation till done.

Yea I know, just funny we care that much about money as a society. To steal it first and then to punish for it.. when the richest people all stole it from someone they just had more lawyers

Funny, the poor never hired me to do a job.  All my work has come from people with money.

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The Khan Years

Patience, Persistence, and Piss Poor General Managers.

FanDuel's responsibility isn't 100% clear in my opinion however I'm curious how long they had been tracking his account. Also curious if fanduel hadn't alerted the league, how much longer could this have gone on before the jags figured out for themselves. What kind of internal controls, or lack of, do they have? How in the world do you lose this much money and not notice!?

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Scouting well is all that matters.  Draft philosophy is all fluff.

If someone launders money through a bank, the bank can still be held liable. Ignorance is not a defense, it’s a sign of malfeasance.

That said gambling is a terrible ill and scourge and I hope FanDuel gets nailed to the wall

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Yea I know, just funny we care that much about money as a society. To steal it first and then to punish for it.. when the richest people all stole it from someone they just had more lawyers

Funny, the poor never hired me to do a job.  All my work has come from people with money.

When I say richest people I'm not talking about those middle class people in queens harbor, marsh landing or Kernan.. 

I mean wealthy people.

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FanDuel's responsibility isn't 100% clear in my opinion however I'm curious how long they had been tracking his account. Also curious if fanduel hadn't alerted the league, how much longer could this have gone on before the jags figured out for themselves. What kind of internal controls, or lack of, do they have?  How in the world do you lose this much money and not notice!?

That should be an indication of just how much money flows through the Jaguars or any NFL franchise if dude can skim $20M over time or whatever it was and no one notices for a while.  They should have had someone overseeing the overseer sure, but it also must've been a drop in the bucket in their books.

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For thieves it does, not debtors. Took the person 10 years to repay the deductible (no interest) the whole time they had to stay on probation till done.

Yea I know, just funny we care that much about money as a society. To steal it first and then to punish for it.. when the richest people all stole it from someone they just had more lawyers

I believe your train of thought belong in the politics area. Troll that there please.

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A new broom always sweeps clean.

FanDuel's responsibility isn't 100% clear in my opinion however I'm curious how long they had been tracking his account. Also curious if fanduel hadn't alerted the league, how much longer could this have gone on before the jags figured out for themselves. What kind of internal controls, or lack of, do they have?  How in the world do you lose this much money and not notice!?

That should be an indication of just how much money flows through the Jaguars or any NFL franchise if dude can skim $20M over time or whatever it was and no one notices for a while.  They should have had someone overseeing the overseer sure, but it also must've been a drop in the bucket in their books.

Yes and no.  I'm sure a lot of money flows through the organization although most of it should be towards player and staff salaries.  I work for a pretty large health provider that is sizable to the jags in terms of revenue and I oversee the financials for a significant piece of it.  There is no way anyone could skim that without someone noticing.  It would require a serious lack of oversight and almost intentional desire to look the other way.

I know we all get frustrated by the football incompetence we've seen over the years but to allow this on the business side almost bothers me more.  This is the easy part.

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Scouting well is all that matters.  Draft philosophy is all fluff.

Yea I know, just funny we care that much about money as a society. To steal it first and then to punish for it.. when the richest people all stole it from someone they just had more lawyers

I believe your train of thought belong in the politics area. Troll that there please.

Hey enjoy living under that rock.

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