Home / Poker News January 2014 / Garden City Group Makes Full Tilt Refund Announcement
Garden City Group Makes Full Tilt Refund Announcement
Posted by: Jo Martin - Sat, 2014-01-25 11:26
A couple of days ago, news broke courtesy of the Poker Players’ Alliance, regarding the repayment process of US players in the Full Tilt Poker case. According to the PPA report, some $82 million would be returned through the first leg of the repayment process to 30,000 players. The report proved to be accurate indeed: on Friday, the Garden City Group – the independent claims-management company hired by the DoJ to resolve the Full Tilt repayment problem – published an announcement on its own site, confirming the above said numbers.
According to the CGC statement, the DoJ’s Asset Forfeiture and Money Laundering Section had approved the first round of repayments, covering $82 million and 30,000 player accounts. Obviously, those reimbursed during this first round of payments will be players who have submitted their Petitions in a timely manner, who have filled out their petition forms correctly and completely, and who have confirmed their
Full Tilt Poker balances.
In addition to the details already leaked by the PPA, the GCG announcement also drew up a clear roadmap concerning the repayment process. The GCG would work with the bank selected by the DoJ for this purpose. Payments would be done via ACH, and the first leg of the process would be completed before the end of February.
Players who know they have indeed followed the petition procedure to the letter, should be expecting to receive an email from the Garden City Group within the next few weeks, containing specific directions on the repayment process. At this rate, players’ monies may indeed find their way back to the rightful owners before the March 31 deadline that has been announced way back when the GCG swung into action.
Affiliate and in-house pro accounts have remained in limbo.
Sign up to Full Tilt Poker: no longer the global Ponzi scheme as billed by the DOJ on 2011, but still the best online poker cash game destination.
