We’ve had numerous members of the online poker community ask for an update from this week’s hearing between representatives of Full Tilt Poker and the Alderney Gambling Control Commission (AGCC). Contrary to reports on at least one other website, PocketFives.com has learned from an anonymous source close to Full Tilt Poker that the AGCC has not yet suspended Full Tilt’s license, but a ruling could come as soon as Thursday. Whether the verdict would be to revoke Full Tilt’s license or allow another extension is not clear.

The AGCC has largely remained silent about the outcome of the closed-door meeting to determine the fate of Full Tilt’s license, which was temporarily suspended in late June presumably because the online poker room had not yet paid back players. PocketFives.com has learned that on Wednesday, potential investors were lobbying the AGCC not to revoke Full Tilt’s license completely so that the room could continue doing business in some capacity.

If the poker room’s license were to be revoked by the AGCC, its chances of reopening could be diminished. While Full Tilt owns a secondary operating license from the Kahnawake Gaming Commission in Canada, its software and servers are located in Alderney. Purportedly, AGCC officials could seize Full Tilt’s property in Alderney, which would put a damper on its prospects for reopening.

On Tuesday, the U.S. Department of Justice alleged that Full Tilt paid out more than $440 million to its owners and sponsored pros, but owed players $390 million as of March 2011.

The DOJ claimed that the site “defrauded its poker players by misrepresenting to players that funds deposited into their online player accounts were secure and segregated from operating funds, while at the same time using player funds to pay out hundreds of millions of dollars to Full Tilt Poker owners. [It] was able to accomplish this massive fraud, in part, because it illegally conducted business in the United States, but maintained its personnel, operations, assets, and accounts principally overseas.”

On Tuesday, Full Tilt reportedly lost at least two investors as a result of receiving the designation of a Ponzi scheme by the U.S. Department of Justice’s Preet Bharara (pictured). Meanwhile, PocketFives.com has learned that one remaining investor is committed to closing a deal with the online poker room by the end of September. Consequently, the investor has been meeting with the AGCC to stave off a possible license revocation.

On TwoPlusTwo, legal counsel Jeff Ifrah posted that concerned players should contact the AGCC to implore the organization not to revoke Full Tilt Poker’s gaming license: “Right now, it is important to encourage the AGCC to delay any ruling for a minimum of 30 days in order to permit a timely transition to a new ownership structure… I plead with all of you to do this and unite in this one effort. A negative AGCC ruling will cause all efforts that have been undertaken to secure this investor group to fail and leave customers in the cold.”

We’ll keep you posted on the latest from the AGCC and Full Tilt Poker. In the meantime, check out these related articles:

Full Tilt Ponzi Scheme Accusations Ignite Calls for Regulated Online Poker
Tom Dwan: Full Tilt Had “Way Less Oversight than it Should’ve”
PPA to DOJ: Repay Full Tilt Players in Alleged Ponzi Scheme
Feds Call Full Tilt Poker “Global Ponzi Scheme”