Yep!
Heard about Victorious Gaming tournaments recently, max capacity of 1600 players each sorted out by MMR.
Top 20% attending = Division A etc. all the way down to Division E (bottom 20%).
Tournaments are held every day by the community at I believe 3 or 4 PM PST.
Today was a special day though, I guess Turtle Beach sponsored the event, and in lieu of the whole normal prizing by Riot, (3200 RP for winning team + Triumphant Ryze), then 2400, 1600, 800 etc. They tacked on Turtle Beach Z22 Headphones.
So because there are 5 different divisions, that means that there are 5 different winning teams = 25 headsets and so on and so forth. The prizing each day is 200k RP in total by Riot.
The community's TS has some nifty tools that they made to sort out the players into their corresponding MMRs etc, you just pretty much have to be there in the TS and the tools do everything for you for the most part, you will understand if you partake.
But yeah, happened to get paired up with 3 pretty cool people (our 4th was kind of a booty the first game but didn't talk too much after our first game).
Here's my bracket, http://organizers.challonge.com/e11guv7f. I was on team a31.
And we placed 3rd after a grueling 6 long games. If we didn't lose our 5th game we would've been in the finals. Afterwards, we played the other losing team from the semi-finals for the 3rd place position and we snagged it.
These were really challenging games overall and I feel as though it may help you progress as a player since it matches you up randomly with people of similar MMR hence the multiple divisions.
But yeah, in response to the whole http://www.reddit.com/r/leagueoflegends/comments/29y0oy/never_again_will_i_play_for_a_victoriousgaming/ hullabaloo on reddit.
The OP is supposed to have the same exact name in TS as he does in League. My IGN is DanKnee, so my TS for them should be DanKnee. However the site has some clever registration shenanigans so that your TS name upon registration is bound to your League of Legends account. So I go to the website and put my League ID (DanKnee), I must log into TS to confirm that I am DanKnee in TS and it links it to your League account or whatever. However, what the guy did was probably linked his account so for example if his League name was like HotshotGG, he would have to go on TS and put his ID HotshotGG so the tool confirms or something. So after this happened, what I think the OP did as he confesses is changes his name to HeartBeat or whatever who happens to be a Challenger player and kept that name in the Victorious Gaming TS (his League ID is obviously different). He coincidentally does really well as ADC in a C or something bracket and people were curious about why his IGN was different from his TS. (Remember his MMR was set when he registered for the site, so his name could've been like DanKnee (me) and then later changed his name in TS) which he shouldn't have done in the first place if he had read the rules initially. Your League name should be the same as your TS name which he didn't follow. So then the higher-ups talked to him about the whole thing, but the people in charge of the site in general are mostly volunteers, and of course there would be some bad eggs, and the dude got the short end of the stick. So I just think it's both sides at fault honestly. But the whole circlejerk on reddit is giving the site a really bad rep. Compared to other tournaments VG allows the opportunity for anyone the equal chance to earn RP etc.
http://www.victoriousgaming.com/
Is the website ^.
TL;DR, Honestly, the tournaments are pretty damn nice for what they are. Dude didn't abide by their rules, and as a result happened to get paired up with admins or whatever who happened to be very unprofessional and crude etc.