Affiliate Edge Turmoil Background Information

**MichaelCorfman** · 12 March 2017, 8:03 pm

I thought I should share the publicly available information I am aware of about Interactive Technology Corporation limited, the company that owns and operates Affiliate Edge and the online gaming websites it represents.

Companies House information about Interactive Technology Corporation Limited

This information shown on the Companies House website documents the recent management transition, and shows that Jonathan Ferster's appointment as a director was terminated on 24 November 2016 as reported in filing dated 13 December 2016.

There are also court documents available regarding the lawsuits between the three brothers that jointly owned Interactive Technology Corporation Limited.

28 June 2016 Judgement (Case No: A3/2015/1098)

12 July 2016 Judgement (Case No: A3 2016 0125)

15 November 2016 Judgement Approved by the Court (Case No: HC-2014-000256)

10 February 2017 Judgement Approved (Case No: HC-2014-000256)

I have not yet read the court judgements, but I do intend to carefully read them carefully to better inform my understanding of the current situation. I thought others might want to do so as well.

Michael

**hublot** · 12 March 2017, 8:40 pm

Originally Posted by MichaelCorfman

I thought I should share the publicly available information I am aware of about Interactive Technology Corporation limited, the company that owns and operates Affiliate Edge and the online gaming websites it represents.

Companies House information about Interactive Technology Corporation Limited

This information shown on the Companies House website documents the recent management transition, and shows that Jonathan Ferster's appointment as a director was terminated on 24 November 2016 as reported in filing dated 13 December 2016.

There are also court documents available regarding the lawsuits between the three brothers that jointly owned Interactive Technology Corporation Limited.

28 June 2016 Judgement (Case No: A3/2015/109

12 July 2016 Judgement (Case No: A3 2016 0125)

15 November 2016 Judgement Approved by the Court (Case No: HC-2014-000256)

10 February 2017 Judgement Approved (Case No: HC-2014-000256)

I have not yet read the court judgements, but I do intend to carefully read them carefully to better inform my understanding of the current situation. I thought others might want to do so as well.

Michael

According to the companies house info, Jonathan is still an owner/shareholder of the company but is no longer a director, so it seems that the 2 other brothers have come together and forced JF out of day to day operations kind of like a hostile takeover.

**Muppet** · 13 March 2017, 1:06 am

Jonathan Ferster's appointment as a director was terminated on 24 November 2017 as reported in filing dated 13 December 2016.

2016.

I have read all four judgements over the weekend as research for an article we put together today.
Club World Casinos linked with rogue operator AffPower

There is a lot of dirty laundry. None of these guys come out of it looking good.

There are several comments made by the judges about the enormous expense and petty nature of the trial. The court eventually found against Jonathan Ferster for breaching his fiduciary duties in relation to unauthorised payments of remuneration to himself, without the knowledge and approval of his brothers Warren and Stuart (fellow shareholders). On the other hand, at one stage the other two lost an appeal attempting to suppress the inclusion of an email in which they attempted to blackmail him into paying an over-inflated price to buy them out.

There is some interesting discussion quoted verbatim about the loss of over $3m to a payment processor and a line about the operator putting some crooks in prison.

My guess after reading all that is that the elder brothers never intended to acquire the business and instead wanted to be bought out. But Jonathan, who probably felt like he did all the work for only a third of the money, and had been diverting the profits into companies he controlled, called their bluff. So they should be repaid the missing money but now they are stuck with a business they have no idea how to run. They made their money running a plastics products company that they took over from their father, and the case mentions that they were forced out of their positions there in 2014.

In one of the judgements they are quoted as describing Jonathan's comparatively "advanced computer knowledge" which reading between the lines made them sound like technophobes (not surprising given their age). So they have called in external consultants, but being clueless as they are, they have invited the AffPower foxes into the henhouse as it were. I'm struggling to think of a more bone-headed thing you could do with a successful online casino business.

I also read that their father was a noted holocaust survivor and sadly his death made the news in early February. Maybe they have taken their eye off the ball during that time. If so they need to get their act together and fix things quick smart. A good start would be getting rid of the criminal "consultants".

**dfiocch** · 13 March 2017, 6:20 am

Just got this mail:

FROM: Affiliate Edge Management ([email protected])
Announcement to affiliates
TO: dave@f*******.com, webmaster@f*******.com, accounts@f*******.com

Since November 2016, the company has undergone a rapid transformation due to the following factors:-

1. After over 2 years of intense litigation between the directors of the business the existing CEO resigned without notice throwing the business into turmoil. The CEO was found to be in breach of his fiduciary duties, branded a liar and dishonest by a High Court Judge.

2. His plan was to inflict maximum damage on the business in the shortest time in order for the other 2 Directors to call him back into the business to sort the problems out.

3. Senior staff handed in their notice, the finance director walked out within a week. The accounts manager left before Xmas. The CTO actually undermined the business by sending an extremely harmful email to our software supplier. He actually said the only way this business will survive is to bring back the CEO. In the short time the CTO was there, he encouraged staff underneath him to look for other jobs because he said the company won't be around in the new year.

4. Payment Processors held back payments to the business for weeks and in some cases months, starving the company of cash.

5. Forums started to spread malicious gossip about what was going on in the business.

6. Valuable bank accounts were shut with very little notice causing many difficulties which have led to a lot of payment problems.

All the above problems were deliberately staged to cause maximum damage to the business.

However, the existing Directors brought in a team of consultants to save the business from disaster in early December. Their role was not to disrupt the daily running of the business but to help maintain staff confidence. Their primary aim was to get the payment processors functioning. I am pleased to report that they are now functioning as normal. Marketing was left alone. Affiliates could have lost millions in revenue if it wasn't for the action of the consultants.

Disappointingly, most of the senior staff have now left. Their positions have now been filled by juniors who have stepped up and are doing an excellent job.

1. The business is now flourishing and has had excellent results over the past 3 months.

2. Affiliates are now being paid earlier than ever in the company's history and will continue to do so.

3. The existing staff are loyal and are more confident than ever that their future is secure.

4. A handful of affiliates have asked about issues, some of them being payment issues due to closure of accounts. Other issues have been inherited and will be resolved.

There are positive plans for the future which is looking very rosy and we hope to share them with our partners asap. This company will be around for many years and will continue to grow and all our partners will prosper from the changes that will be implemented. We intend to speak to all our affiliates on an individual basis in the near future.

The Executive of CWC

**celena** · 13 March 2017, 8:30 am

Originally Posted by dfiocch

Just got this mail:

I received the same.
But I would not put the casinos again on my sites.
I have not finished removing everything.

**wonderpunter** · 13 March 2017, 8:32 am

Sounds like it's everybody else and not us problem.. So what is the reasoning to bring in cowboys (Affpower) brought in to do the job.. affiliates have lost and are losing money, But would I employ a multiple convicted thief to guard my gold bars?

**Insider** · 13 March 2017, 9:21 am

But who is now the Executive of CWC, these two brothers or already Affpower ?

It seems that many more staff has left the company and i believe they know why.

I'm also sure that Martyn knows much more but he's not able to post here and make it public, i can understand.

Can be that all is happened what we read now from statements or judgments but fact is that now a rogue company is on board where are involved with hackers, confiscate winnings, kidding customers on many casinos they are owner.

You see, even in supposedly "reputable companies" there is fraud, manipulation and greed.

I believe the damage is big, no question and they hope they can repair it with this statement but who will still trust now ?

It would be a chance to repair when the problems would be within the company self but to take a rogue company, no way.

At least i have pulled the consequences but it doesn't matter whether they lose one affiliate or not.

We have nothing from to support them now but many affiliates will loss commission, that's our misery.

**MJM** · 13 March 2017, 9:43 am

Originally Posted by dfiocch

1. The business is now flourishing and has had excellent results over the past 3 months.

I'm sure that claim is actually true, as shaving and stealing from affiliates surely gave the bottom line a boost!

**Simmo!** · 13 March 2017, 9:56 am

I find it odd that you'd sue someone you work with, have them branded "a liar and a thief" then ask them to stay on and work for you!!!

**sweetbet** · 13 March 2017, 2:44 pm

Don't untag my players and steal my commissions, and then tell me that the future of your company is looking rosy.

**MichaelCorfman** · 13 March 2017, 2:46 pm

Originally Posted by dfiocch

Just got this mail:

I also received the same email this morning. I would add to what was posted earlier that the subject line of the email message was "Announcement to Affiliates" and that the email address it was sent from was [email protected].

I have sent an email to this address calling for transparency on several fronts, including identifying who is currently in charge and details on the "consultants" that were brought in to help. And I also requested that I be provided with a contact that I could communicate with directly in my role as Executive Director of the GPWA.

Michael

**dfiocch** · 13 March 2017, 3:17 pm

Originally Posted by MichaelCorfman

I would add to what was posted earlier that the subject line of the email message was "Announcement to Affiliates" and that the email address it was sent from was [email protected].

My fault.
Original post edited.

**Rich100** · 13 March 2017, 4:30 pm

This is so sad how money and greed can split a family apart like this.

I still removed the sites but I won't rogue them until more facts are given. I will believe Martyns judgement on this situation and follow.

**-Shay-** · 13 March 2017, 4:59 pm

Originally Posted by dfiocch

My fault.
Original post edited.

Did they seriously load up every affiliates email address in the "to"?

**MichaelCorfman** · 13 March 2017, 5:10 pm

Originally Posted by -Shay-

Did they seriously load up every affiliates email address in the "to"?

At least the email I received only had the single email address we provided Affiliate Edge to contact us for affiliate-rated matters. So, I'm going to guess emails were sent to multiple addresses only happened when all of the email addresses were associated with one affiliate account. Dfiocch, can you confirm that was the case for the email you received?

Thanks,

Michael

**dfiocch** · 14 March 2017, 2:21 am

Yes, three different mails (2 forwards by my guys) in a single account.
Mail (mac) just merged them in a single one.

**ocreditor** · 14 March 2017, 7:36 am

Originally Posted by wonderpunter

Sounds like it's everybody else and not us problem.. So what is the reasoning to bring in cowboys (Affpower) brought in to do the job.. affiliates have lost and are losing money, But would I employ a multiple convicted thief to guard my gold bars?

I guess the initial reason they brought them was for consultant only and things has been evolved to more directions as they went forward..

Thread: Affiliate Edge Turmoil Background Information

LinkBack

Thread Tools

Search Thread

Display

Affiliate Edge Turmoil Background Information

The Following 4 Users Say Thank You to MichaelCorfman For This Useful Post:

The Following User Says Thank You to hublot For This Useful Post:

The Following 5 Users Say Thank You to Muppet For This Useful Post:

The Following 4 Users Say Thank You to dfiocch For This Useful Post:

The Following 3 Users Say Thank You to celena For This Useful Post:

The Following 2 Users Say Thank You to wonderpunter For This Useful Post:

The Following 2 Users Say Thank You to Insider For This Useful Post:

The Following User Says Thank You to MJM For This Useful Post:

The Following 3 Users Say Thank You to MichaelCorfman For This Useful Post:

The Following User Says Thank You to Rich100 For This Useful Post:

The Following User Says Thank You to MichaelCorfman For This Useful Post:

The Following 2 Users Say Thank You to dfiocch For This Useful Post:

Posting Permissions