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Full Tilt Poker Exec Nelson Burtnick Out on Bail: Absolute Poker Players Hopeful

Written by:
C Costigan
Published on:
Jul/31/2012
Full Tilt Poker Exec Nelson Burtnick Out on Bail:  Absolute Poker Players Hopefu

At almost the exact time Full Tilt Poker executive Nelson Burtnick landed at Newark Liberty Airport on United Airline flight 23 from Dublin to 10:58 am (July 31, 2012), the US Justice Department confirmed Friday’s report on Gambling911.com that a settlement agreement had been reached between Full Tilt Poker and PokerStars whereby all players would be paid back monies owed. 

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Burtnick was taken into custody and released on $500,000 bail later Tuesday afternoon.  He and Full Tilt Poker former CEO Raymond Bitar are charged with money laundering and bank fraud.  Bitar surrendered to law enforcement earlier this month.  Burtnick has plead not guilty. 

Meanwhile, with all the hoopla surrounding the Full Tilt Poker/PokerStars deal, lost in the conversation was the fait of Absolute Poker. 

The US Government has announced it is in the process of attempting to take control of Absolute Poker’s remaining assets, and presumably a chunk of funds in which to pay back players. 

Jerry Bernstein, a lawyer for Absolute Poker, said the company's deal with the government calls for it to forfeit its assets to the government.

"Our hope and expectation is that the proceeds of the forfeiture will be used to repay our players," he said. Bernstein declined to say how much players were owed.

"We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow," said Mark Scheinberg, chairman of the board of PokerStars.

- Chris Costigan, Gambling911.com Publisher

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