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Originally Posted by RawAlex
Oh Gonzo, there is so much more too. I found a few names and things that come into play, and it's pretty much all shell companies and tax dodges, which appears to be the only way they take in enough net income to pay off the debts. I am sure they are hurting right now, because plenty of their cash was likely sitting in Cyprus (considering the CEO of Manwin Ireland is their ex-corporate guy from Cyrpus!).
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I always questioned their profitability. It's easy to keep buying up companies and grossing money when you getting hundreds of millions of dollars from loans to buy everything. When all the loaned money is spent up can all of the sites make enough money to pay back the loans and still be profitable? Look at AFF, grosses 300M but lost 50M dollars.
Dee bought up lots of companies and it made no sense that he was acquiring them and suddenly turning them around into profit machines... well at least not legally. We know now what he did different from the previous owners to profit off the sites he bought. He also had the previous owners finance the deals out over a longer term. Manwin was another company to come in and buy up companies and make it look like he put a little magic to them and make them more profitable then they were before he got them. Which now we know it wasn't his money, anyone can buy up a lot of shit with other people's money. The true test will come once the loans stop, can they be repayed while keeping things profitable. Or was there another agenda like when you wash money you don't mind if you lose a little.