SamfFI

Is it possible to withdraw your FI cash balance yet? I don't seem to be able to but it was supposed to have happened by now right?

Got v disengaged from the FI saga for various reasons. Has there been any update on when we can withdraw cash balances?

@Freunds_Mullet @i_con_art @FILambings @fi_action Yep. Everything still possible at this stage. Most likely (IMO) is liquidation with a (small) % payout to customers but they are looking for buyers/new management options.

Can people please not post screenshots of Kim's redundancy announcement on Twitter to revel in it. She's been screwed over by FI, too, and was a young, junior member of staff who has just lost her job. Extend solidarity to her as we are to eachother, please. #footballindex

Having spent many, many hours looking at the funding concept, whilst we will have to wait for the administrators to know for sure, I believe this is a story of shocking incompetence rather than scam. Not a single journalist was interested in speaking to me on this. #footballindex

@Football_MDJ Presumably for tax reasons.

@FiSamf Thanks Sam (and hope you’re ok btw?) What’s the advantage with BetIndex being based in Jersey while the rest are UK companies?

Just thinking aloud... we’re all focused on Index Labs at the moment but the parent company of FI is BetIndex. BetIndex is based in Jersey so finding any info out about them is near enough impossible. Will that have any impact on the work of the administrators at all?

@CartelIndex Those were trades not buys. That's £10m (or so) commission not £250m of income from minting.

This is what I don’t get. 500mil let’s say half was buys and call it 250mil. And let’s say 30mil paid in divs. 20mil paid in ads/marketing, 10mil paid in running costs. £190mil still unaccounted for. Where the fuck is the money ??? #footballindex

@CBarker81 @ElkHunter78 I hope they are but it all depends on what the administrators find.

@FiSamf @ElkHunter78 Thought cash balances were protected or trust so dissolved that you believe that to be another lie?

So they aren’t paying out divs as of yesterday? All bets are in essence frozen? Even though they showed the Pb scores and media scores on the app. #footballindex

@ElkHunter78 @CBarker81 Yeah all paid. Not that that means we'll ever be able to extract the money.

@CBarker81 They've been paid I just now I think?

Please ensure all FI Traders you know are directed here. We don't want anyone to be left out. If they are off twitter, get them on here. After a few days, once we can be sure most Traders are here, we will be setting up sub-group chats so everyone can have a voice.

@_mcr_abc @fi_action They'll be updates through that account. 👍

Lots of people working on presenting a united case for traders. Follow @fi_action for updates.

@Stumacca04 @FootballIndexCS No idea who knew what at senior levels.

@FiSamf @FootballIndexCS That’s fair enough for the CS staff, what do you think about the more senior staff? Surely some noticed/discussed with other employees fishy things going on/ sustainability. I’m hoping for some whistleblowing stories to come out tbf

One plea while all this works itself out. Please be kind to @FootballIndexCS staff and individuals who have or are still working in more junior roles. They did not know any more than we did and they are likely to be redundant in the next few weeks.

@Fi_Akay @FootballIndexCS Ok well if you're planning on being nice to them we have no disagreement.

@Fi_Akay @FootballIndexCS Well if you want to be a dick to them knock yourself out. I'd hope most will realise they're losers here too.

@Fi_Akay @FootballIndexCS I feel for both. They were also hoodwinked and will lose their livelihoods.

@Fi_Akay @FootballIndexCS She didn't know anything about it. She's young and about to be unemployed. It's really not her fault.

@FI_Sharky @Sporting_Panda Both though they may be given different priority order with cash balances first.

@Sporting_Panda @FiSamf Would you define unsecureds as cash balances or open bets?

It can't be. Shareholders come after unsecured creditors in the queue (us). But it's possible a fair bit of money has flowed to them already as dividends. This is why we won't know much until the administrators go through the finances.