While I understand that this is a rough would, there ARE reputable private leagues around. My gosh is it THAT often that someone runs off with money? Really?
You're welcome to check out our league.
Here's my post. (it's not 250 but it's 150 and there's no cut)
You might like that fact that I'm a Pat$/$ox fan too
(although I now live in ... Da Bronx!)

ana Elzenbeck
This (below) is a fairly strong league...
Rather unique custom redraft league has a couple openings
for active-type owners. If you want a cupcake league to
just roll out the balls each week, this isn't for you.
We have it set up to reward intensity, minimize luck
in the trophy quest, and keep all teams active
all 17 weeks. Leanish roster makes pickups worthwhile.
Start 15 players including IDPs. Scoring system
detailed & well-honed. Will try new ideas if they're sharp.
$150 entry fee, deposit required, we need commitment
in Early August. 100% payout. Draft is over the Web with
MFL's web-draft tool, piecewise Aug23 thru Sep10
in 1-2 round micro-sessions on eves/weekend--
--can seed choices or pick live
(don't have to be online at any particular time).
Most league members have played FF a10+ years.
Strong league, sorta tight ship.
Commish Dana 347-224-7934
mailto:elzietoga@yahoo.com
http://football.myfantasyleague.com/2005/home/38151
(click 2004 or 2005 rules)