According to a U.K Mirror report, U.S. Players who have had money tied up in Full Tilt Poker should see their funds returned to them “shortly.” This update is from the Garden City Group, which is tasked with returning the funds on behalf of the federal government.
The announcement comes nearly a year after PokerStars agreed to settle its federal case and complete its Full Tilt Poker acquisition.
In November 2012, Full Tilt Poker reopened but only non-U.S. customers had immediate access to their accounts and were allowed to retrieve their funds. Since the settlement, Full Tilt Poker’s former U.S. customers have had their money in limbo.
Garden City Group has created a Full Tilt Poker Claims Administration site, but the claims process has not begun. The issue has garnered a lot of attention on the world’s largest online poker forum 2+2. A thread created for the issue has been viewed more than a quarter of a million times with 3,000 responses.
The responses to the thread complain about Garden City Group’s vague language and no clear mention of a timeline for processing the claims.
There is uncertainty as to whether or not there will be enough funds to cover all of the U.S. Full Tilt account balances in full.
“If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance,” a Garden City Group statement reads. “If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.”
Join the Conversation