|Simple explanation. They have been struggling with cash flow for almost a year. Now they know that they can buy a lot of time improving their cash flow. The scam works like this:
Posted: 8/14/2012 5:07:41 PM
I have $8,000 in my account and want to take out $6,000 because I have had a lot of success during baseball season and will start NFL with $2000, So I go to 5dimes and request a check payout of $3000 on Monday and another $3000 the following Monday. about 8-10 days the first check arrives and I deposit it. In a week after that the second check comes and I deposit that. The first check is returned NSF so the bank and (I know all of mine do) presents the check a second time and it comes back NSF. Now you are into this 3-4 weeks when the letter from your bank arrives telling you the check bounced. You start to get worried about the second check and rightfully so. you call 5dimes and they tell you they need original check back and by Fed Ex. You call your bank and they can send it to you the next day. Two days later you are ready to send it back but decide to wait a couple of days and put both checks in one package. Now you are well over 5 weeks and finally the checks are on their way to 5dimes. They take a few days "investigating" and then say yes, there must have been a problem, and oh you are banned from check withdrawals. Okay, you want your money paid fees and have dropped a couple hundred going through this process. You go to withdraw but MG or WU are your only real options. They limit the withdrawals however to less than $1000 per every 8 days. So to take out 6 withdrawals for close to $6000 it takes another 48 days minimum to withdraw it all in addition to the first 6 weeks you waited to get the checks back to them. And this is best case because once they credit your account after 6 weeks they are expecting you to lose some, most, or all of it wagering.
They truly are 5crimes!