..

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

Mike Postle and Justin Kuraitis Finally Speak Out on Cheating Scandal

Mike Postle and Justin Kuraitis Finally Speak Out on Cheating Scandal

Mike Postle has finally spoken out after a year of allegations lodged against the poker pro that he had cheated during live streaming events at the Stones Gambling Hall outside of Sacramento, California.

Mike Sexton Passes Away

The poker world has lost a giant with news of the passing of player, commentator and game ambassador Mike Sexton late Sunday night.

Reactions Pour in From All Over Poker World to News of Mike Sexton Terminal Illness

Reactions Pour in From All Over Poker World to News of Mike Sexton Terminal Illness

Here are reactions from fellow poker pros that the Poker Hall of Famer Mike Sexton is in home hospice as his prostrate cancer has spread to other organs.

 

Mike Sexton in Home Hospice as Cancer Spreads

Linda Johnson, known as "The First Lady of Poker" disclosed via Twitter Tuesday evening that professional poker player and commentator Mike Sexton is in home hospice.

$50 Million Poker Series with $5 Million PKO Main Event

$50 Million Poker Series with $5 Million PKO Main Event

If you play poker you do not want to miss out on this! One of the most exciting poker formats ever has arrived at Americas Cardroom, and its worldwide debut will blow you away.  Wave after wave of PKOs are coming your way.

Syndicate