Scams and Exploits
CURRENCY EXCHANGE
Shak would offer to exchange currency for you at market
rate, for seemingly any realistic sum. It would take weeks
to get your money if you ever got it.
FLOATING ACTION
Shak would buy your action, but not pay you for it unless
it got to a point where he would lose that action unless
payment was received. It was often that players would
get paid if they made it to a point where they were likely
to cash.
GHOSTING ACTION
It’s believed that Shak was overselling for some events,
and then punting off his stack. I also know he was offering
different packages to different people, and wouldn’t play
all the events.
SELLING SIDE ACTION
Shak would buy a package from someone, and then sell
%’s of his action in that player to others. I’m not sure if he
actually owned the action he was selling or not.
SMALL LOANS
Shak would borrow money from players to play an event
or cash game, and then disappear. The debts would never
get repaid.
FAKE BANK DEPOSITS
When you required money to be sent prior to you sending,
you would get a picture of a fake/doctored bank draft and
money would show up in your account. It would be
removed days later when the transaction bounced. This
was always somehow the banks mistake.