I don't like being threatened so here it is I'm Bankrupt This is what happened to me. - GoFuckYourself.com

SleazyDream · 07-29-2009, 12:33 AM

I went bankrupt in my mainstream ventures. Not my online adult ventures. There I said it.

I went bankrupt.

short version

2 years ago I bought a 24,000 sq foot commercial building. Three major players in the adult business lent me money and I still thank them for that. I still owe them all money and am paying them back. One is mostly paid back, just some interest owning which should get cleaned up with the building lean when it sells (that doesn't work I'll put in more payments) and the other two are being paid back slowly. I also put in a lot of my own, and lost all of that. Had this not gone badly I'd be retired today (second time as I could have done it if I didn't divorce 6 years ago too)

The building had a nightclub in the basement. Honestly I didn't care about the nightclub, I bought it for the second and 3rd level which I planned to put a business center in with 30 offices for rent. With most contractors I work with I offer a bonus on a job if it's done on time and under or on budget. Anyway - long story short the bar tenant didn't' pay their rent, I evicted them and my contractor convinced me to open the bar with him. I didn't want to run a bar, but it was there and he said it would only be $50K to revamp it and open it and then once he paid me what I put in I'd hand it over to him and just collect rent. Anyway, the $50K became $100K, then $200K then $300K and on in reno (scam)... and it was a case of keep going or loose what was already put in... anyway the bar opened, and the guy went power nutty with the bar and decided before he finished the offices that i owed him the bonus. Totally went to his head and he started stealing from me big time and doing a LOT of coke. As I looked over the books it wasn't right and within a couple months I fired him (which became another nightmare in itself as for the next year or more he bugged every police, liqueur official, city agent, etc to have me shut down, it was constant) and then he stole $15K worth of tools from me with the aid of a police officer.

That went to court - long drawn out thing, finally won a judgment against him and the police officer is pending a trial examination on it in November. In the mean time a couple months later he broke in and stole another $30K + of money and stuff which ending up in hell pending the insurance as he had been a partner. He was arrested for that and is pending trial in November as well for that incident. He made death threats and such, blah blah blah it was very stressful...... s000000 I had this bar and knew nothing about bars and it was EATING money like crazy. With the old partner it didn't even make the rent, when i took it over it started making the rent and a few bucks on the debt. Slowly I learnt, and in the last few months I had the several hundred of the highest drinking crowd in the city as friday night regulars. Everyone THOUGHT I was rolling in it but times were bad though financially as the building was worth 1.2 in current state (when the offices were to be done it would value out at about 2.2 and we were VERY close to having those done, like 30k close). I only had a 400 mortgage on it but with the bar in the basement it was impossible to refinance at reasonable rates. Just needed to refinance from 400k to 800k on the building to be fine at a reasonable interest rate 10% or less. Had I been able to refinance I would have been able to hold out to sell for a decent profit .

I was paying 30% or more on a lot of the loans to CC companies and others with the idea that I would have been able to refinance. Even though the bar was busy, I couldn't sustain those kind of interest rates and the bar too up all my time running it. I realized I didn't like it. I had women all over me, but the wrong kind. Never been a big fan of drunks. Do have some cool stories I will share later though that happened in it. Anyway, economy went bad, was making my credit card payments but suddenly they dropped my limits and hugely raised my monthly minimums - which fucked my credit even more making refinance even harder. I kept hanging on, even though money was extremely tight to the point of not affording food for my family but I kept my 20+ employees paid hanging on to finish this out. I did that for over 6 months. I don't give up easily.

Then someone brought a gun into the club. I don't know how it got past my metal detectors and pat downs at the door, but it happened. My security guards were older and amazing, many ex boxers and such, and they got it off the guy as he pulled it out. I decided there and then no amount of money was worth getting someone innocent killed in a stupid bar fight. I've had my life threatened many times and never worried about that, but the idea of risking someone else's life over something soo stupid as a bar fight wasn't worth it. So I ended it. I needed the money from the bar to keep it all floating and I wasn't risking an innocent's life so my ONLY option out at that point was bankruptcy. As far as I could see it it, it was either that or risk having an innocent person shot in the bar over something stupid as once one gun shows up - more come. My financial gain wasn't worth it.

I wrote off my back taxes, my credit cards and one asshole who thinks I owe him money on a rent to own land deal I was in on with him. The contract said (in writing) if he was 3 months behind in rent he's loose everything he put in and was 5 months behind, also he would get increasing equity based on payments over 15 years upto 49% from 0. He was about 3 years in. For the last 5-6 months I made this person's payments right up to my bankruptcy forgoing food and medication for my family when he went out partying it up not making his payments. That idiot wants ALL his rent back now, and he's the only person from this industry who I completely wrote off as he's now threatening me. He still owes me money on other things too, but I've written that off as he's always says he'll pay but never does.

So there it is. I went bankrupt. I was upfront with the bankrupsy trustee with everything I own, including my sites, and have done it legally. I lost my house, my toys, my timeshares, my lakefront land, my bank accounts, many of my investments my benz, etc. I had a few assets in legal trust which were exempt so I'm not living in a dumpster. To be honest I'm in about the same position as when I left my ex wife 6 or so years ago minus the credit cards. It's not that bad.

I'm starting over and back in online adult full time as I love this business and most of the people in it.

Assuming you'll have me back, I still hold a lot of shame about this inside and cut myself off from the world for a while dealing with it.

I am prepared to accept all the 'deadbeat' comments as I deserve them except in the land deal case - that one I did give to the trustee and they even found no merit in it for the guy.

There are some VERY amazing people in this industry that have helped me move back into this game. I'm not going to list them there, I don't want people bugging them with their hard luck stories, but I do have to say there are some VERY amazing people in this industry and ALL my really true friends work in this field.

THANK YOU. I will always be grateful for your help and I will do everything I can not to let you down again. You can't even begin to imagine how grateful I am for your help.

cLin · 07-29-2009, 12:37 AM

Wow. Wow. I'm so damn sorry to hear that. It's one thing to fail cause you aren't capable...it's another to get backstabbed.

Barefootsies · 07-29-2009, 12:41 AM

Sad news.

But at least you are on the rebound nig.

BAKO · 07-29-2009, 12:42 AM

Porn For life!

robfantasy · 07-29-2009, 12:45 AM

Quote:

Originally Posted by SleazyDream

I went bankrupt in my mainstream ventures. Not my online adult ventures. There I said it.

I went bankrupt.

short version

2 years ago I bought a 24,000 sq foot commercial building. Three major players in the adult business lent me money and I still thank them for that. I still owe them all money and am paying them back. One is mostly paid back, just some interest owning which should get cleaned up with the building lean when it sells (that doesn't work I'll put in more payments) and the other two are being paid back slowly. I also put in a lot of my own, and lost all of that. Had this not gone badly I'd be retired today (second time as I could have done it if I didn't divorce 6 years ago too)

The building had a nightclub in the basement. Honestly I didn't care about the nightclub, I bought it for the second and 3rd level which I planned to put a business center in with 30 offices for rent. With most contractors I work with I offer a bonus on a job if it's done on time and under or on budget. Anyway - long story short the bar tenant didn't' pay their rent, I evicted them and my contractor convinced me to open the bar with him. I didn't want to run a bar, but it was there and he said it would only be $50K to revamp it and open it and then once he paid me what I put in I'd hand it over to him and just collect rent. Anyway, the $50K became $100K, then $200K then $300K and on in reno (scam)... and it was a case of keep going or loose what was already put in... anyway the bar opened, and the guy went power nutty with the bar and decided before he finished the offices that i owed him the bonus. Totally went to his head and he started stealing from me big time and doing a LOT of coke. As I looked over the books it wasn't right and within a couple months I fired him (which became another nightmare in itself as for the next year or more he bugged every police, liqueur official, city agent, etc to have me shut down, it was constant) and then he stole $15K worth of tools from me with the aid of a police officer.

That went to court - long drawn out thing, finally won a judgment against him and the police officer is pending a trial examination on it in November. In the mean time a couple months later he broke in and stole another $30K + of money and stuff which ending up in hell pending the insurance as he had been a partner. He was arrested for that and is pending trial in November as well for that incident. He made death threats and such, blah blah blah it was very stressful...... s000000 I had this bar and knew nothing about bars and it was EATING money like crazy. With the old partner it didn't even make the rent, when i took it over it started making the rent and a few bucks on the debt. Slowly I learnt, and in the last few months I had the several hundred of the highest drinking crowd in the city as friday night regulars. Everyone THOUGHT I was rolling in it but times were bad though financially as the building was worth 1.2 in current state (when the offices were to be done it would value out at about 2.2 and we were VERY close to having those done, like 30k close). I only had a 400 mortgage on it but with the bar in the basement it was impossible to refinance at reasonable rates. Just needed to refinance from 400k to 800k on the building to be fine at a reasonable interest rate 10% or less. Had I been able to refinance I would have been able to hold out to sell for a decent profit .

I was paying 30% or more on a lot of the loans to CC companies and others with the idea that I would have been able to refinance. Even though the bar was busy, I couldn't sustain those kind of interest rates and the bar too up all my time running it. I realized I didn't like it. I had women all over me, but the wrong kind. Never been a big fan of drunks. Do have some cool stories I will share later though that happened in it. Anyway, economy went bad, was making my credit card payments but suddenly they dropped my limits and hugely raised my monthly minimums - which fucked my credit even more making refinance even harder. I kept hanging on, even though money was extremely tight to the point of not affording food for my family but I kept my 20+ employees paid hanging on to finish this out. I did that for over 6 months. I don't give up easily.

Then someone brought a gun into the club. I don't know how it got past my metal detectors and pat downs at the door, but it happened. My security guards were older and amazing, many ex boxers and such, and they got it off the guy as he pulled it out. I decided there and then no amount of money was worth getting someone innocent killed in a stupid bar fight. I've had my life threatened many times and never worried about that, but the idea of risking someone else's life over something soo stupid as a bar fight wasn't worth it. So I ended it. I needed the money from the bar to keep it all floating and I wasn't risking an innocent's life so my ONLY option out at that point was bankruptcy. As far as I could see it it, it was either that or risk having an innocent person shot in the bar over something stupid as once one gun shows up - more come. My financial gain wasn't worth it.

I wrote off my back taxes, my credit cards and one asshole who thinks I owe him money on a rent to own land deal I was in on with him. The contract said (in writing) if he was 3 months behind in rent he's loose everything he put in and was 5 months behind, also he would get increasing equity based on payments over 15 years upto 49% from 0. He was about 3 years in. For the last 5-6 months I made this person's payments right up to my bankruptcy forgoing food and medication for my family when he went out partying it up not making his payments. That idiot wants ALL his rent back now, and he's the only person from this industry who I completely wrote off as he's now threatening me. He still owes me money on other things too, but I've written that off as he's always says he'll pay but never does.

So there it is. I went bankrupt. I was upfront with the bankrupsy trustee with everything I own, including my sites, and have done it legally. I lost my house, my toys, my timeshares, my lakefront land, my bank accounts, many of my investments my benz, etc. I had a few assets in legal trust which were exempt so I'm not living in a dumpster. To be honest I'm in about the same position as when I left my ex wife 6 or so years ago minus the credit cards. It's not that bad.

I'm starting over and back in online adult full time as I love this business and most of the people in it.

Assuming you'll have me back, I still hold a lot of shame about this inside and cut myself off from the world for a while dealing with it.

I am prepared to accept all the 'deadbeat' comments as I deserve them except in the land deal case - that one I did give to the trustee and they even found no merit in it for the guy.

There are some VERY amazing people in this industry that have helped me move back into this game. I'm not going to list them there, I don't want people bugging them with their hard luck stories, but I do have to say there are some VERY amazing people in this industry and ALL my really true friends work in this field.

THANK YOU. I will always be grateful for your help and I will do everything I can not to let you down again. You can't even begin to imagine how grateful I am for your help.

wow man, best of luck on getting things back together.

boneprone · 07-29-2009, 12:45 AM

This story is VERY familiar and hits home with me. I ran some resturants and some Video Poker Gambling Deli's here in Portland. Aside from being a victim of armed robbery gun to the face I lost a lot of money in one of the ventures.

It was horrible. As the economy went south it seemed to start sucking money like you couldnt believe. A matter of get out now or lose what you already put in dynamic you mentioned.

I got out, but not before some major damage was done.

I still own part of a restaurant and it has done well. But some of my other ventures have really hurt me. If it weren't for my online shit I would be bankrupt as well.

in fact i have about 100k debt still from these bad investments.

I think we need to stick to what we know best.
And thats adult.

1200mics · 07-29-2009, 12:45 AM

Wow sorry to hear this . Seems you had very bad times

Looks like you was with the wrong people ...
I wish you great times back in the fulltime adult .

EscortBiz · 07-29-2009, 12:45 AM

most successful people went thru a serious financial bump before they really where on the right straight path to good uninterrupted success

the Shemp · 07-29-2009, 12:45 AM

Scott, was someone threatening to expose your bankruptcy ... ?
btw, nice to see you back

VeriSexy · 07-29-2009, 12:46 AM

Wow...sorry to hear

baddog · 07-29-2009, 12:47 AM

woah . . .

TidalWave · 07-29-2009, 12:47 AM

Are you still going to be calling people idiots?

Sorry about your bad luck..

janosik · 07-29-2009, 12:48 AM

I am really to hear that Sleazy. Feel free to contact me on ICQ 102327077 if you need some free webmaster help ;)

Just Mike · 07-29-2009, 12:48 AM

Scott,

Had no idea...I'm sorry to hear that happened BUt I am very glad you are back in the game. Don't owrry everything will be ok again...you have selflessly helped people in the past and they will help you out now.

Love ya man

SleazyDream · 07-29-2009, 12:52 AM

Quote:

Originally Posted by the Shemp

Scott, was someone threatening to expose your bankruptcy ... ?
btw, nice to see you back

yes, he's a piece of human garbage.

BSleazy · 07-29-2009, 12:53 AM

That's fucked up. Do something about it tho...

SleazyDream · 07-29-2009, 12:53 AM

Quote:

Originally Posted by TidalWave

Are you still going to be calling people idiots?

Sorry about your bad luck..

fuck ya

SleazyDream · 07-29-2009, 12:55 AM

Quote:

Originally Posted by BCyber

That's fucked up. Do something about it tho...

exactly.

I'm not big into revenge - looking back you can't see where you're going.

I have a lot of things I'm gona try in the near future online. I see a LOT of opportunity

GonZo · 07-29-2009, 01:00 AM

I dont see why you should apologize. You tried to diversify and things went sour.
No shame in that.
Ive always thought you were a hard working guy and Im sure you will pull out of this fine.

natkejs · 07-29-2009, 01:03 AM

At least you tried!

Welcome back to Sin City

PersianKitty · 07-29-2009, 01:05 AM

Quote:

Originally Posted by SleazyDream

yes, he's a piece of human garbage.

let me at em.. let me at em ...haven't got claws for nothin'

SleazyDream · 07-29-2009, 01:09 AM

Quote:

Originally Posted by PersianKitty

let me at em.. let me at em ...haven't got claws for nothin'

if he continues now I'll expose everything. He's done a LOT to me.

this is my final straw with him.

One thing with me is, I DO NOT like to be threatened, that NEVER goes well with me.

It's in his court. ALL my dirty laundry is out now. I'm prepared to air his if this goes ANY further, and it's DIRTY.

Imortyl Pussycat · 07-29-2009, 01:10 AM

there is so much i want to say to you at this moment but we've pretty much poured our hearts out over all this in our late night chats. i am proud of you for opening yourself up like this for everyone. it's important that others beware the fates that may befall them one day. you had the skill to make it big in adult once, and that hasn't left you, so there is no doubt you will be wildly successful very soon again. i love you very much doll and can't wait to see you again and have some more coctails and laughs *mwuah*

LexiLexxx · 07-29-2009, 01:10 AM

aww that's to bad! Life is way more important than money. Money just helps it run more smoothly, lol! That nightmare you were living in, would have started some serious stress! How nice of "bar boy" to sniff up the high life. His party days went from hero to zero, and he blamed you and wanted revenge. I hope he will be spending sometime in jail.

Telling your honest story, doesn't make you look weak IMHO. I just hope people will learn from others mistakes. The only other issue I see, is that you might be a little too nice, generous and trusting.

Time to clean up and move up. Oh and another thing.....Family first, food and needed meds.

Sloane · 07-29-2009, 01:11 AM

Sorry to hear mate...I am sure their are complexities involved with your situation that would be impossible to cover in a GFY post... the one thing I didn't understand was you had a 400k mortgage, and the property was worth 1.2, 30k off being worth over 2.? Couldn't you have just closed shop, and sold out? Or did the amount on credit cards/loans from friends exceed equity in the property.

I am mainly a lurker on GFY, but you seem like a smart guy. I am sure you will make a come back

Zebra · 07-29-2009, 01:13 AM

I can relate. Dumped several $100k into brick and mortar back in the late 90's and lost my ass. Tried and failed with a few others since and always end up going back to porn. Zebras cant changed their stripes I guess ;)

WiredGuy · 07-29-2009, 01:13 AM

Wow, what a thread. You know what though, like someone mentioned earlier, some of the most successful people in life go through extreme ups and extreme downs. This is your down swing. Now that a majority of the stresses in your life are out of the way, it can only go up from here on in. And now that you're back to your core business, it should be no problem getting back to work without distractions.

Best of luck Scott.
WG

InternetIsForPorn · 07-29-2009, 01:13 AM

I have a somewhat similar situation in the mainstream biz. But it's more online.

The only real difference is that before starting the venture I had all of my "partners" sign up pretty rough agreements. So now after the venture has lost a lot of money and the "partners" filled up their pockets, they will have to give me back all of the money they stole from me + everything they own + will be in debt for me for another 15 years.

God bless lawyers.

But I learned this after another partner fucked me over and I had to call in a private security firm and the cops.. it was almost a shoot-out. Here though, the partners think they got away with everything. Not until court in september though

SleazyDream · 07-29-2009, 01:14 AM

Quote:

Originally Posted by LexiLexxx

............. The only other issue I see, is that you might be a little too nice, generous and trusting.

Time to clean up and move up. Oh and another thing.....Family first, food and needed meds.

point taken

Va2k · 07-29-2009, 01:16 AM

Damn Scott I know the feeling with losing everything! I will never ever forget you for everything you did for me when I was starting out and in need!

SleazyDream · 07-29-2009, 01:16 AM

Quote:

Originally Posted by Sloane

Sorry to hear mate...I am sure their are complexities involved with your situation that would be impossible to cover in a GFY post... the one thing I didn't understand was you had a 400k mortgage, and the property was worth 1.2, 30k off being worth over 2.? Couldn't you have just closed shop, and sold out? Or did the amount on credit cards/loans from friends exceed equity in the property.

I am mainly a lurker on GFY, but you seem like a smart guy. I am sure you will make a come back

i had it arranged to get the money to finish, but still needed the bar income to continue with it. when the gun came it - i was done

quantum-x · 07-29-2009, 01:19 AM

(Serious) Question from the sidelines: Why were your purchases not under a limited liability corp? Or were they, yet something else happened ?

Marie · 07-29-2009, 01:22 AM

Best of luck to you Scott, I hope it gets better soon.

The "good" thing with losing everything materialistic is that you get reminded what's really important in life.

Agent 488 · 07-29-2009, 01:23 AM

shit happens. good luck bouncing back.

San · 07-29-2009, 01:25 AM

So basically, you totally fucked up and don't have the balls to admit it, hanging your failure and quitting on some bullshit "not risking someone else's life" excuse.

Okay. Cool story though.

Richard Dawkins · 07-29-2009, 01:26 AM

I was wondering the real story of what happened between you and JMan.

SleazyDream · 07-29-2009, 01:27 AM

Quote:

Originally Posted by quantum-x

(Serious) Question from the sidelines: Why were your purchases not under a limited liability corp? Or were they, yet something else happened ?

lots were, some were personally guarenteed

SleazyDream · 07-29-2009, 01:28 AM

Quote:

Originally Posted by San

So basically, you totally fucked up and don't have the balls to admit it, hanging your failure and quitting on some bullshit "not risking someone else's life" excuse.

Okay. Cool story though.

that's pretty much it, although the time line on the gun is accurate.

San · 07-29-2009, 01:34 AM

Quote:

Originally Posted by SleazyDream

that's pretty much it, although the time line on the gun is accurate.

You should have stuck with running the bar. The more experience you get, the more successful you become. You just needed to wait it out.

Things like guns and fights 'n shit in clubs happen all the time. It's part of the business.

I don't think the gun incident was the real reason you quit it all. Perhaps you just couldn't take it any more.

Anyway, good luck with online biz.

$5 submissions · 07-29-2009, 01:39 AM

Thanks for you honesty and candor, Sleazy. It's all about the ups and downs of business. Your story illustrates that the big difference between the guys who make it and the guys who don't is the way they learn from setbacks. Setbacks teach lessons. They happen for a reason. You're surviving your setback and didn't let it change you for the worse. I draw inspiration from your experience.

bobby666 · 07-29-2009, 01:40 AM

that comes out if you promote mainstream

PornHero · 07-29-2009, 01:44 AM

Holy shit, that's one crazy story.

I wish you the best of luck on your comeback.

NTM · 07-29-2009, 01:46 AM

Quote:

Originally Posted by $5 submissions

T Your story illustrates that the big difference between the guys who make it and the guys who don't is the way they learn from setbacks. Setbacks teach lessons. They happen for a reason. You're surviving your setback and didn't let it change you for the worse.

Smart people learn from other people's setback, not your own.

So much for calling people idiots left and right.

I really LOL'd at the irony.

Agent 488 · 07-29-2009, 01:47 AM

guess it's still true not to shit people on the way up because you are going to meet them on the way down .........

NTM · 07-29-2009, 01:49 AM

On a side note, I wonder how PimpDog is doing.

I get the feeling he's got a similar story to share

hypedough · 07-29-2009, 01:53 AM

That's an insane story, what a rollercoaster. Must've hated leaving adult at that point.

Agent 488 · 07-29-2009, 01:53 AM

Quote:

Originally Posted by NTM

On a side note, I wonder how PimpDog is doing.

I get the feeling he's got a similar story to share

running a trailer park or something.

GregE · 07-29-2009, 01:57 AM

Wow!

I've been up to my neck in a couple of mainstream ventures from hell, but nothing like what you've described.

Good luck on the rebound

SleazyDream · 07-29-2009, 02:01 AM

Quote:

Originally Posted by NTM

Smart people learn from other people's setback, not your own.

So much for calling people idiots left and right.

I really LOL'd at the irony.

if only that was true.

SleazyDream · 07-29-2009, 02:03 AM

Quote:

Originally Posted by San

You should have stuck with running the bar. The more experience you get, the more successful you become. You just needed to wait it out.

Things like guns and fights 'n shit in clubs happen all the time. It's part of the business.

I don't think the gun incident was the real reason you quit it all. Perhaps you just couldn't take it any more.

Anyway, good luck with online biz.

the stress was insane, but 5 different people told me they were comming back strapped cause they saw a piece, and if 5 told me, 25 planned to and didn't tell me. The bar was done.

07-29-2009, 12:33 AM	#1
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	I don't like being threatened so here it is I'm Bankrupt This is what happened to me. I went bankrupt in my mainstream ventures. Not my online adult ventures. There I said it. I went bankrupt. short version 2 years ago I bought a 24,000 sq foot commercial building. Three major players in the adult business lent me money and I still thank them for that. I still owe them all money and am paying them back. One is mostly paid back, just some interest owning which should get cleaned up with the building lean when it sells (that doesn't work I'll put in more payments) and the other two are being paid back slowly. I also put in a lot of my own, and lost all of that. Had this not gone badly I'd be retired today (second time as I could have done it if I didn't divorce 6 years ago too) The building had a nightclub in the basement. Honestly I didn't care about the nightclub, I bought it for the second and 3rd level which I planned to put a business center in with 30 offices for rent. With most contractors I work with I offer a bonus on a job if it's done on time and under or on budget. Anyway - long story short the bar tenant didn't' pay their rent, I evicted them and my contractor convinced me to open the bar with him. I didn't want to run a bar, but it was there and he said it would only be $50K to revamp it and open it and then once he paid me what I put in I'd hand it over to him and just collect rent. Anyway, the $50K became $100K, then $200K then $300K and on in reno (scam)... and it was a case of keep going or loose what was already put in... anyway the bar opened, and the guy went power nutty with the bar and decided before he finished the offices that i owed him the bonus. Totally went to his head and he started stealing from me big time and doing a LOT of coke. As I looked over the books it wasn't right and within a couple months I fired him (which became another nightmare in itself as for the next year or more he bugged every police, liqueur official, city agent, etc to have me shut down, it was constant) and then he stole $15K worth of tools from me with the aid of a police officer. That went to court - long drawn out thing, finally won a judgment against him and the police officer is pending a trial examination on it in November. In the mean time a couple months later he broke in and stole another $30K + of money and stuff which ending up in hell pending the insurance as he had been a partner. He was arrested for that and is pending trial in November as well for that incident. He made death threats and such, blah blah blah it was very stressful...... s000000 I had this bar and knew nothing about bars and it was EATING money like crazy. With the old partner it didn't even make the rent, when i took it over it started making the rent and a few bucks on the debt. Slowly I learnt, and in the last few months I had the several hundred of the highest drinking crowd in the city as friday night regulars. Everyone THOUGHT I was rolling in it but times were bad though financially as the building was worth 1.2 in current state (when the offices were to be done it would value out at about 2.2 and we were VERY close to having those done, like 30k close). I only had a 400 mortgage on it but with the bar in the basement it was impossible to refinance at reasonable rates. Just needed to refinance from 400k to 800k on the building to be fine at a reasonable interest rate 10% or less. Had I been able to refinance I would have been able to hold out to sell for a decent profit . I was paying 30% or more on a lot of the loans to CC companies and others with the idea that I would have been able to refinance. Even though the bar was busy, I couldn't sustain those kind of interest rates and the bar too up all my time running it. I realized I didn't like it. I had women all over me, but the wrong kind. Never been a big fan of drunks. Do have some cool stories I will share later though that happened in it. Anyway, economy went bad, was making my credit card payments but suddenly they dropped my limits and hugely raised my monthly minimums - which fucked my credit even more making refinance even harder. I kept hanging on, even though money was extremely tight to the point of not affording food for my family but I kept my 20+ employees paid hanging on to finish this out. I did that for over 6 months. I don't give up easily. Then someone brought a gun into the club. I don't know how it got past my metal detectors and pat downs at the door, but it happened. My security guards were older and amazing, many ex boxers and such, and they got it off the guy as he pulled it out. I decided there and then no amount of money was worth getting someone innocent killed in a stupid bar fight. I've had my life threatened many times and never worried about that, but the idea of risking someone else's life over something soo stupid as a bar fight wasn't worth it. So I ended it. I needed the money from the bar to keep it all floating and I wasn't risking an innocent's life so my ONLY option out at that point was bankruptcy. As far as I could see it it, it was either that or risk having an innocent person shot in the bar over something stupid as once one gun shows up - more come. My financial gain wasn't worth it. I wrote off my back taxes, my credit cards and one asshole who thinks I owe him money on a rent to own land deal I was in on with him. The contract said (in writing) if he was 3 months behind in rent he's loose everything he put in and was 5 months behind, also he would get increasing equity based on payments over 15 years upto 49% from 0. He was about 3 years in. For the last 5-6 months I made this person's payments right up to my bankruptcy forgoing food and medication for my family when he went out partying it up not making his payments. That idiot wants ALL his rent back now, and he's the only person from this industry who I completely wrote off as he's now threatening me. He still owes me money on other things too, but I've written that off as he's always says he'll pay but never does. So there it is. I went bankrupt. I was upfront with the bankrupsy trustee with everything I own, including my sites, and have done it legally. I lost my house, my toys, my timeshares, my lakefront land, my bank accounts, many of my investments my benz, etc. I had a few assets in legal trust which were exempt so I'm not living in a dumpster. To be honest I'm in about the same position as when I left my ex wife 6 or so years ago minus the credit cards. It's not that bad. I'm starting over and back in online adult full time as I love this business and most of the people in it. Assuming you'll have me back, I still hold a lot of shame about this inside and cut myself off from the world for a while dealing with it. I am prepared to accept all the 'deadbeat' comments as I deserve them except in the land deal case - that one I did give to the trustee and they even found no merit in it for the guy. There are some VERY amazing people in this industry that have helped me move back into this game. I'm not going to list them there, I don't want people bugging them with their hard luck stories, but I do have to say there are some VERY amazing people in this industry and ALL my really true friends work in this field. THANK YOU. I will always be grateful for your help and I will do everything I can not to let you down again. You can't even begin to imagine how grateful I am for your help. __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

07-29-2009, 12:37 AM	#2
cLin Registered User Industry Role: Join Date: May 2009 Location: Orange County, CA Posts: 94	Wow. Wow. I'm so damn sorry to hear that. It's one thing to fail cause you aren't capable...it's another to get backstabbed. __________________ Chris The Ex Girlfriend Pics

07-29-2009, 12:41 AM	#3
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Sad news. But at least you are on the rebound nig. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

07-29-2009, 12:42 AM	#4
BAKO Etology.com Industry Role: Join Date: Jul 2005 Location: Hollywood CA Posts: 18,377	Porn For life! __________________ http://DatingNetwork.com Telegram: @bakokaye

07-29-2009, 12:45 AM	#6
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	This story is VERY familiar and hits home with me. I ran some resturants and some Video Poker Gambling Deli's here in Portland. Aside from being a victim of armed robbery gun to the face I lost a lot of money in one of the ventures. It was horrible. As the economy went south it seemed to start sucking money like you couldnt believe. A matter of get out now or lose what you already put in dynamic you mentioned. I got out, but not before some major damage was done. I still own part of a restaurant and it has done well. But some of my other ventures have really hurt me. If it weren't for my online shit I would be bankrupt as well. in fact i have about 100k debt still from these bad investments. I think we need to stick to what we know best. And thats adult. __________________ Industry Hall Of Fame Legend Mike Jones Bow to the Power - Still BP4L http://gfyawards.com/hall-of-fame Learn about it kids.

07-29-2009, 12:45 AM	#7
1200mics Confirmed User Join Date: Sep 2005 Location: ICQ : 297-476-738 Posts: 5,131	Wow sorry to hear this . Seems you had very bad times Looks like you was with the wrong people ... I wish you great times back in the fulltime adult . __________________

07-29-2009, 12:45 AM	#8
EscortBiz Fuck Checks, CASH only! Join Date: May 2002 Location: New York City Posts: 19,422	most successful people went thru a serious financial bump before they really where on the right straight path to good uninterrupted success __________________ Spanking, Medical Fetish, Sleeping, Strap-on Anal Lesbians, Girls Fucking Guys, Handjob site REAL HOT, Shemales, Anal and Ass Licking sites 100% Real EXCLUSIVE with amazing retention, ccbill payouts, lots of content FREE FTP HOSTING Promote the largest and oldest member paid escort site, Converts 10 times better then any dating site, CCBill payouts ICQ# 158802076

07-29-2009, 12:45 AM	#9
the Shemp congrats to the winners Industry Role: Join Date: Nov 2001 Location: Echo Beach Posts: 10,891	Scott, was someone threatening to expose your bankruptcy ... ? btw, nice to see you back __________________ i use Vacares...so should you Submit your picture galleries to my site...Outlaw TGP

07-29-2009, 12:46 AM	#10
VeriSexy Join The Royal Family Join Date: Apr 2002 Posts: 25,463	Wow...sorry to hear __________________ Looking for a KICK ASS TEEN SPONSOR? Check out ROYAL CASH - THE KING OF TEEN! Incredible webmaster tools FHGs, Morphing Blog and RSS Feeds, Embedded FLV & WMV Videos. With TOP RATIO Sites like TeenStarsOnly.com - Earn $$ with our New Site & Bonus Payouts!! ATMovs.com \| iTeenVideo.com \| TeenSexMovs.com \| TeenSexMania.com

07-29-2009, 12:47 AM	#11
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,090	woah . . .

07-29-2009, 12:47 AM	#12
TidalWave Confirmed User Industry Role: Join Date: Sep 2007 Location: Los Angeles Posts: 2,706	Are you still going to be calling people idiots? Sorry about your bad luck.. __________________ www.SwiftNode.com

07-29-2009, 12:48 AM	#13
janosik Confirmed User Industry Role: Join Date: Jan 2002 Posts: 754	I am really to hear that Sleazy. Feel free to contact me on ICQ 102327077 if you need some free webmaster help ;)

07-29-2009, 12:48 AM	#14
Just Mike Confirmed User Industry Role: Join Date: Sep 2002 Location: In a land FAR FAR away Posts: 3,726	Scott, Had no idea...I'm sorry to hear that happened BUt I am very glad you are back in the game. Don't owrry everything will be ok again...you have selflessly helped people in the past and they will help you out now. Love ya man __________________ EMAIL: [email protected] / ICQ: 56205262 AWEMPIRE

07-29-2009, 12:53 AM	#16
BSleazy Confirmed User Industry Role: Join Date: Aug 2002 Location: USA Posts: 6,721	That's fucked up. Do something about it tho... __________________ icq 156131086

07-29-2009, 01:00 AM	#19
GonZo Confirmed User Industry Role: Join Date: Jul 2002 Location: Atlanta,Ga. Posts: 3,180	I dont see why you should apologize. You tried to diversify and things went sour. No shame in that. Ive always thought you were a hard working guy and Im sure you will pull out of this fine.

07-29-2009, 01:03 AM	#20
natkejs Confirmed User Industry Role: Join Date: Jan 2003 Location: Nomad Land Posts: 1,606	At least you tried! Welcome back to Sin City __________________

07-29-2009, 01:10 AM	#23
Imortyl Pussycat Confirmed User Join Date: Apr 2006 Location: Cali Posts: 5,449	there is so much i want to say to you at this moment but we've pretty much poured our hearts out over all this in our late night chats. i am proud of you for opening yourself up like this for everyone. it's important that others beware the fates that may befall them one day. you had the skill to make it big in adult once, and that hasn't left you, so there is no doubt you will be wildly successful very soon again. i love you very much doll and can't wait to see you again and have some more coctails and laughs mwuah __________________ Julie Larson julie {at} juicyads.com skype: imortylpussycat Buy & Sell Ads on The Most Sexy Advertising Network on the Planet available ad spots \| sign up now

07-29-2009, 01:10 AM	#24
LexiLexxx Confirmed User Join Date: Feb 2003 Location: Vegas, Baby!!!! Posts: 2,510	aww that's to bad! Life is way more important than money. Money just helps it run more smoothly, lol! That nightmare you were living in, would have started some serious stress! How nice of "bar boy" to sniff up the high life. His party days went from hero to zero, and he blamed you and wanted revenge. I hope he will be spending sometime in jail. Telling your honest story, doesn't make you look weak IMHO. I just hope people will learn from others mistakes. The only other issue I see, is that you might be a little too nice, generous and trusting. Time to clean up and move up. Oh and another thing.....Family first, food and needed meds.

07-29-2009, 01:11 AM	#25
Sloane Confirmed User Industry Role: Join Date: Feb 2001 Location: Vietnam Posts: 811	Sorry to hear mate...I am sure their are complexities involved with your situation that would be impossible to cover in a GFY post... the one thing I didn't understand was you had a 400k mortgage, and the property was worth 1.2, 30k off being worth over 2.? Couldn't you have just closed shop, and sold out? Or did the amount on credit cards/loans from friends exceed equity in the property. I am mainly a lurker on GFY, but you seem like a smart guy. I am sure you will make a come back

07-29-2009, 01:13 AM	#26
Zebra Banned from Kimmy's couch Industry Role: Join Date: Oct 2001 Location: Down at Fraggle Rock Posts: 5,091	I can relate. Dumped several $100k into brick and mortar back in the late 90's and lost my ass. Tried and failed with a few others since and always end up going back to porn. Zebras cant changed their stripes I guess ;) __________________ Old School

07-29-2009, 01:13 AM	#27
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,451	Wow, what a thread. You know what though, like someone mentioned earlier, some of the most successful people in life go through extreme ups and extreme downs. This is your down swing. Now that a majority of the stresses in your life are out of the way, it can only go up from here on in. And now that you're back to your core business, it should be no problem getting back to work without distractions. Best of luck Scott. WG __________________ I play with Google.

07-29-2009, 01:13 AM	#28
InternetIsForPorn Confirmed User Join Date: Sep 2007 Posts: 848	I have a somewhat similar situation in the mainstream biz. But it's more online. The only real difference is that before starting the venture I had all of my "partners" sign up pretty rough agreements. So now after the venture has lost a lot of money and the "partners" filled up their pockets, they will have to give me back all of the money they stole from me + everything they own + will be in debt for me for another 15 years. God bless lawyers. But I learned this after another partner fucked me over and I had to call in a private security firm and the cops.. it was almost a shoot-out. Here though, the partners think they got away with everything. Not until court in september though

07-29-2009, 01:16 AM	#30
Va2k I’m still alive barley. Industry Role: Join Date: Oct 2001 Location: Va Posts: 10,060	Damn Scott I know the feeling with losing everything! I will never ever forget you for everything you did for me when I was starting out and in need! __________________

07-29-2009, 01:19 AM	#32
quantum-x Confirmed User Join Date: Feb 2002 Location: ICQ: 251425 Fr/Au/Ca Posts: 6,863	(Serious) Question from the sidelines: Why were your purchases not under a limited liability corp? Or were they, yet something else happened ? __________________ PrettyInCash.com - BoozedGFs.com - TeenGFs.com - JizzGFs.com- MilfUploads.com - Last edited by quantum-x; 07-29-2009 at 01:20 AM..

07-29-2009, 01:22 AM	#33
Marie Confirmed User Industry Role: Join Date: May 2003 Location: Netherlands Posts: 3,024	Best of luck to you Scott, I hope it gets better soon. The "good" thing with losing everything materialistic is that you get reminded what's really important in life. __________________ Maria - maria at photorama.nl - Photorama International CONTENT LOADS of content in various niches - many photo/video combinations! CONTENT

07-29-2009, 01:23 AM	#34
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	shit happens. good luck bouncing back.

07-29-2009, 01:25 AM	#35
San So Fucking Banned Join Date: Jan 2004 Location: Shenzhen Posts: 790	So basically, you totally fucked up and don't have the balls to admit it, hanging your failure and quitting on some bullshit "not risking someone else's life" excuse. Okay. Cool story though.

07-29-2009, 01:26 AM	#36
Richard Dawkins So Fucking Banned Join Date: May 2008 Posts: 116	I was wondering the real story of what happened between you and JMan.

07-29-2009, 01:39 AM	#40
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Thanks for you honesty and candor, Sleazy. It's all about the ups and downs of business. Your story illustrates that the big difference between the guys who make it and the guys who don't is the way they learn from setbacks. Setbacks teach lessons. They happen for a reason. You're surviving your setback and didn't let it change you for the worse. I draw inspiration from your experience. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

07-29-2009, 01:40 AM	#41
bobby666 boots are my religion Join Date: Nov 2005 Location: Heart of europe Posts: 21,765	that comes out if you promote mainstream __________________

07-29-2009, 01:44 AM	#42
PornHero Confirmed User Industry Role: Join Date: Feb 2001 Location: Toronto, Ontario, Canada Posts: 1,381	Holy shit, that's one crazy story. I wish you the best of luck on your comeback.

07-29-2009, 01:47 AM	#44
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	guess it's still true not to shit people on the way up because you are going to meet them on the way down .........

07-29-2009, 01:49 AM	#45
NTM So Fucking Banned Join Date: Jul 2006 Posts: 1,087	On a side note, I wonder how PimpDog is doing. I get the feeling he's got a similar story to share

07-29-2009, 01:53 AM	#46
hypedough Confirmed User Join Date: Sep 2007 Location: Now running NATS4: HypeDough.com! Posts: 3,743	That's an insane story, what a rollercoaster. Must've hated leaving adult at that point. __________________ Ricky D :: Hype Dough President \| XBIZ.net \| ICQ 172-939-826 AIM+Skype HypeDough \| [NATS4] Kayden420: ['09 '10 '11 XBIZ Nominee \| Exclusive & HD] \| ThePornScout: [Exclusive + Reality \| Amateurs Want to Become Pornstars]

07-29-2009, 01:57 AM	#48
GregE Confirmed User Industry Role: Join Date: Jul 2004 Location: Philadelphia Posts: 2,705	Wow! I've been up to my neck in a couple of mainstream ventures from hell, but nothing like what you've described. Good luck on the rebound __________________ 50/50 lifetime payout - EXCLUSIVE CONTENT - CCBill CLiCK here for your Bun Beating Dollars.