Home / Poker News November 2013 / Full Tilt’s US-player Repayment Date Announced
Full Tilt’s US-player Repayment Date Announced
Posted by: Mark Baldwing - Sun, 2013-11-17 14:29
On April 15, 2011, the US DoJ descended upon the online poker operators illegally peddling their offers in the US. As a result of that legal move, thousands of US-based players had their monies locked up at one of the sites, which was unable to repay them. The DoJ seized some of
Full Tilt Poker’s assets with the goal of repaying US players at a later date, but the eventual procedure turned out to be extremely convoluted and drawn-out. The proverbial light at the end of the tunnel finally popped up today though, when Garden City Group, the independent claims administrator hired by the DoJ to settle the issue, announced that the deadline for filing petitions in regards to the money to be recovered has passed, while setting an actual date for the beginning of the repayment process.
Those who did not file their petitions before the November 16 deadline will no longer be able to claim any money from the
online poker site.
According to the statement made public at the GCG’s website, the claims administrators were already busy reviewing petitions filed by those who have not made multiple petitions and whose balances have been confirmed online. Players whose cases are as straightforward as possible (they haven’t disputed their balances, nor are there any other complications), will get their monies back by March 31, 2014.
According to estimates, the GCG will return about $150 million in player funds to US-based poker players through the refund process.
The claims administrators have worked hard over the last few months, sending out around 1.4 million emails to Full Tilt Poker players who are eligible to receive money back.
According to inside sources, around 41,000 petitions have been received by the GCG before the November 16 deadline.
Whether there were any players who had funds at the site and chose not to claim them isn’t clear at this stage.
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