[Asterisk-Users] LiveVoip is Bankrupt

[trixter http://www.0xdecafbad.com]

On Sun, 2005-06-26 at 11:32 -0700, Brian Litzinger wrote:
> Anytime a small new organization asks for up front payment, I wonder 
> about a locally famous case.
> 
> Back in the days of beepers, a local company was selling beeper
> service for about 30% less than anyone in exchange for a relatively
> good portion of payment up front.  Can't remember if it was
> 3 months or 1 year.  May have been both.
> 
> They collected up the payments and paid the money out in huge salaries.
> 
> Then they went bankrupt.  It is apparently difficult for bankruptcy
> courts to recover salary payments.
> 
> It is apparently a well known scam executed in a number of different
> ways.

I recall a case against someone in New York City where a lady was doing
that with travel, selling cruises below her cost, etc.  Presales upto 6
months ahead went to pay for tickets today.  She paid herself $100k for
her services.  They indicted her on fraud becuase it is illegal to sell
stuff below cost, knowing that you cant possibly make good on what you
sell.  

Perhaps the same could be true of livevoip for anyone that lost any big
amount of money for prepayment on services they couldnt render.  And
certainly for payments where the 'writing was on the wall', ie they knew
they were going to file bankrupcy yet accepted payments for months they
knew they wouldnt be in business.


-- 
Trixter http://www.0xdecafbad.com     Bret McDanel
UK +44 870 340 4605   Germany +49 801 777 555 3402
US +1 360 207 0479 or +1 516 687 5200
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