..

The Moment of Truth for Full Tilt Poker: July 26 Hearing Quickly Approaches

Written by:
C Costigan
Published on:
Jul/17/2011
Full Tilt Poker

Mark your calendars those of you affected by the Full Tilt Poker closure.

By month’s end we are supposed to hear word on this mysterious group of European investors looking to inject beleaguered Full Tilt Poker with enough cash to pay back US customers and those throughout the rest of the world. 

We’ll believe it when we see it.  To date, FTP is yet to pay back those customers living in the US since the Justice Department there charged executives with money laundering and bank fraud on April 15.  In Europe, Full Tilt Poker’s licensing arm in Alderney pulled the plug heading into July, resulting in remaining players throughout the world unable to access funds.

One important date has come and gone for US players looking to file claims with the US government.

As Gambling911.com reported last week, these customers had until 11:59 pm EDT Friday night to file their claims with the US Attorney’s Office in the Southern District of New York.

Advertisement:  William Hill Poker - Limited Time Only 1250 Euro SIgnup - No USA Players Allowed

Those who haven’t filed claims and individuals living outside the US will likely have to wait for July 26.  This is the day a hearing will take place by the Alderney Gambling Control Commission to determine the fate of Full Tilt Poker.

Should Alderney establish Full Tilt Poker has the capacity to pay back players, they could reinstate the license and allow FTP to commence payouts.  Alderney is not likely to do so should Full Tilt Poker be unable to find a channel in which to pay back US customers, however.

There is wide speculation that FTP executives emptied out bank accounts associated with payment processors they knew were under investigation prior to the Justice Department seizure orders. 

Sources close to Gambling911.com have suggested that Full Tilt Poker higher-ups might fear US authorities will be able to trace back new accounts and ultimately have those frozen as well once the online poker firm begins paying back US customers. 

Gambling911.com has your around the clock Full Tilt Poker news.  Please be sure to bookmark us if you are new to this website and always follow us on Twitter

- Chris Costigan, Gambling911.com Publisher

Advertisement:  Cake Poker - 33 Percent Rakeback - US Players Welcome

Poker News

Jungleman, Other Phil Ivey Backers Seek Court Action to Reclaim Winnings

Jungleman, Other Phil Ivey Backers Seek Court Action to Reclaim Winnings

Big name poker players Dan Jungleman and Illya Trincher have filed a court action in an effort to claim their share of Phil Ivey’s World Series of Poker winnings after getting caught in the crossfire Borgata's battle to collect on a legal judgement.

$5,000,000 High Five Tournament Series Returns 4 20 Days

$5,000,000 High Five Tournament Series Returns 4 20 Days

The High Five poker tournament at Americas Cardroom returns, bigger, better - and can we be blunt - four times richer than the previous tournament, with $5,000,000 in guarantees. It runs September 10th-29th.  And WE'ED love to see you win it.

Poker Player Calls Cops After Busting Tournament And Gets Herself Arrested

Poker Player Calls Cops After Busting Tournament And Gets Herself Arrested

An unidentified female poker player busted then got busted, literally, all after earlier offering to flash her breasts.

PartyPoker War on Bots Continues, Closes to Serbian Market

PartyPoker War on Bots Continues, Closes to Serbian Market

PartyPoker continues to wage war on bots, this time resulting in the termination of 121 fraudulent accounts and $76,267 and €88,351 confiscated.

Winners of Seminole Hard Rock Poker Open Announced

Winners of Seminole Hard Rock Poker Open Announced

For the fifth consecutive year, the Seminole Hard Rock Poker Open (SHRPO) concluded with the crowning of The Big 4 champions at the Hard Rock Event Center at Seminole Hard Rock Hotel & Casino Hollywood.

Syndicate