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Non-Tech : World Wide Web Casinos (Internet Casino/Sportsbook)

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To: SG who wrote (320)	8/9/1998 8:59:00 PM
From: Michael Harb	Read Replies (1) of 688

To answer your questions. Peter is still running the company. Because of that, the company has NO money (actually is quite indebted) And since he is still running the company, we have very very little chance of getting it back in my opinion. The affadavits from several ex-associates corroborate the fact that Peter lived a lavish lifestyle on our money while the company floundered. Expensive cars/boats/first class travel/expensive beach homes. Not to mention the employment of several family members who allegedly did little to nothing for the company in return for compensation. The judge found almost completely for the class action, giving the plaintiff's attorney full and unfettered access to the companies books and requiring WWWC to submit for approval to that same attorney any expenditures in excess of $5000. The company currently claims to do about $40k/month in revenue from the casino. At that rate, it would take 2 years to pay the IRS off alone. Of course Peter will promise another "big deal" worth tens of millions of dollars just around the corner....Oh yeah, and of course we'll be going public next month (again). LOL!!! mike

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