Commanders acknowledge recent efforts to refund security deposits

Getty Images

The commanders’ kitchen currently has several pots at or near full boil. The next to get there might be whether security deposits for sequels or subscriptions were improperly withheld by the team.

DC Attorney General Karl Racine said at the end of his Thursday press conference that he there will be more developments regarding possible financial irregularities next week.

Meanwhile, the team confirmed that letters have been sent recently to customers who may be entitled to refunded security deposits.

“We haven’t accepted security deposits for almost a decade, and we started returning deposits to ticket holders as early as late 2004,” commanders’ spokesman Jean Medina said per SMS Thursday evening. “We sent a letter a few weeks ago as part of the latest awareness campaign to return deposits to ticket holders.”

We asked if those who receive payment are required to sign a legal claim release and/or nondisclosure agreement, as it has been reported that such a request was made as a condition of receiving payment. The team did not answer this specific question.

The issue first surfaced in April, when the House Oversight Committee notified the Federal Trade Commission and several attorneys general (including Racine) of the alleged practice of deliberately withholding security deposits.

The wildcard in this whole situation could be the team’s potential failure to deliver payments to Maryland, as unclaimed property. Depending on how long specific security deposits were in the possession of the commanders, the team may have had an obligation to return the money to the state. (I haven’t thoroughly researched this question, which is the legal phrase for “I don’t know.”)

Regardless of how it plays out, the problem could be the next problem for the team to solve.

Previous FTX Bankruptcy Brings Uncertainty to Sale of Voyager Assets
Next New York Mortgage Trust (NASDAQ:NYMT) rating upgraded to sell on