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Garden City Group: Full Tilt Poker Payments Expected by March 31[ return to main articles page ]

By: Dan Cypra    [See all articles by Dan Cypra]
Published on Nov 17th, 2013
In breaking news, it was announced on Saturday by the Garden City Group, the designated Claims Administrator for U.S. Full Tilt Poker players, that payments should be made by the end of the first quarter of 2014. You'll recall that the deadline for U.S. players to remit their remission petitions was Saturday.

The Garden City Group posted on the official Full Tilt Poker claims website on Saturday, "We are in the process of reviewing Petitions filed by Petitioners who confirmed their balances online and who have not disputed their FTP Account Balance or submitted multiple Petitions. We expect payments to be made with respect to such Petitions with confirmed balances by March 31, 2014."

In terms of how payments will be made to players, likely by the end of March, the Full Tilt Poker claims website detailed, "Funds will be paid electronically via ACH to the bank account provided with your Petition for Remission."

Garden City Group has released a number of clarifications over the last few weeks relating to Full Tilt points and medals, affiliates, and the old site's stable of Red Pros. On the former, the FullTiltPokerClaims.com website notes, "Full Tilt Points were a marketing tool and have no monetary value – they will not be refunded and are not reflected in account balances. Iron Man Medals and similar bonuses will also not be redeemed for their cash value and are not reflected in account balances."

Affiliate were permitted to recoup the portion of their Full Tilt Poker balance derived from their activity at the tables, but are not able to reap their actual affiliate revenue. Red Pros might be able to receive refunds on their play after seemingly initially being shut out. According to the Poker Players Alliance, the main lobbying voice for poker players on Capitol Hill in the United States, the fate of Red Pros is still under review by the U.S. Department of Justice. Various Red Pros are pictured.

To that end, the claims website notes, "Only Pros who will be deemed ineligible to participate in this remission process are Team Full Tilt players and other players who were playing with funds from FTP or who were compensated by FTP to play on the FTP site. GCG is working with the Government to review the status of players who have been designated as ineligible Pros." Affiliates and "certain players identified as Pros" will receive a limited filing extension.

Stay tuned to PocketFives for the latest on the Full Tilt Poker remission process.

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Comments

  1. Blah blah blah...you assholes want interest just as crooked government did. They hung on to it now you are. Government is double dipping, interest then our taxes. F-all of you
  2. is there any indication of process of being paid, i assume it will work similar to an income tax refund earlier you file earlier you may get it back
  3. I just can't wait til these blowholes try to tax me on this money that I already paid tax for in 2011, on the fucking day that they took it all away.
     
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