Card Player – Last week, the Poker Players Alliance announced that it had spoken with the federal government and found out that $82 million worth of repayments had been approved. The feds hired Garden City Group — the claims administrator in the Full Tilt Poker case — to assist in the massive process. The firm was brought on in March 2013. Not long after the PPA announcement, Garden City Group issued a statement on its website, providing more details on a timeline for when the first $1 of money belonging to the U.S. victims of Full Tilt Poker would reach their hands. It should be made via ACH deposit before March.
The statement on FullTiltPokerClaims.com:
“GCG has been informed that the Department of Justice Asset Forfeiture and Money Laundering Section has approved the first round of payments. This distribution will include approximately 30,000 Petitions totaling $82 million submitted by Petitioners with timely, complete Petitions, who confirmed their FTP Account Balances. GCG is currently working with the bank selected by the DOJ to set up the payment process.
GCG expects to issue payments via ACH before the end of February 2014 and will post further updates on the payment process in 2-3 weeks.”
Stay tuned for more updates.
Full Tilt Poker was shut down in 2011 after being accused of stealing hundreds of millions from its former players across the world. The site is no longer under previous ownership, now belonging to industry leader PokerStars.
