..

Absolute Poker, UltimateBet Players Closer to Getting Paid

Written by:
Guest
Published on:
Aug/21/2017

The US Department of Justice has approved the first round of payments to those customers affected by the abrupt closure of Absolute Poker and Ultimate Bet in 2011 following a series of indictments lodged against poker company reps.

The Garden City Group has been assigned as administrators to ensure correct payments are made to customers. 

From PokerIndustryPro.com:

This first round of payments totals nearly $33.5 million and will be distributed to the approximately 7400 petitioners that filed claims prior to the initial June 9, 2017 filing deadline. The current deadline to submit petitions is September 7, 2017.

Payment amounts have been calculated based on players’ last known account balance on Absolute Poker and Ultimate Bet, which combined formed the Cereus Poker Network. Affiliates and “professional players” are subject to an undisclosed alternative calculation method to determine eligible claim amounts.

Settlement of claims for Absolute Poker and Ultimate Bet deposit balances are being administered by Garden City Group, LLC , the same firm that handled the Full Tilt claims process which returned more than $118 million to more than 44 thousand fraud victims that were deceived by the online poker company which led its customers to believe that their deposits were “safe, secure, and available for withdrawal at any time,” according to the DOJ.

-  Ace King, Gambling911.com

Poker News

Michael Jai White Expected Naked Poker at a Dr Dre Party: Got the Opposite

Michael Jai White Expected Naked Poker at a Dr Dre Party: Got the Opposite

American actor and martial artist Michael Jai White spoke candidly about his relationship with record mogul Dr. Dre.

Mouth Compares GA Elections to Mike Postle Cheating Scandal

Mouth Compares GA Elections to Mike Postle Cheating Scandal

Poker pro Mike Postle didn't cheat, according to experts, and neither did those overseeing the Georgia Presidential elections.  But don't tell that to Mike "The Mouth" Matusow, one of the game's most outspoken players.

Cashing Out of Online Poker Rooms - Bitcoin The Fastest Preference

Winning Poker Network, parent company of Gambling911.com partner Americas Cardroom, said it has been forced to buy millions in bitcoin a day to meet the demands of exiting players.

Mini Online Super Series Starts Sunday - $55 Buy-In, $2.5 Million Guaranteed

Mini Online Super Series Starts Sunday - $55 Buy-In, $2.5 Million Guaranteed

Mini Online Super Series (MOSS) is actually a big deal with $2.5 million in guaranteed prize pools.

'Mouth' Joins Dating App Thinking It's a Conservative Social Media Service

'Mouth' Joins Dating App Thinking It's a Conservative Social Media Service

One of US President Donald Trump's biggest loyalists in the poker community is one Mike "The Mouth" Matusow.  And like many Trump supporters who feel disinfranchised by Facebook and Twitter, Matusow has opted to move over what he believed to be a conservative social media app.

Syndicate