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FTP funds

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  1. jessemez23 jessemez23 is offline

    Madison, WI
    United States

    Posts: 36
    Joined: Dec 07

    Aug 9th, 2011 (8/9/2011 2:36am)

    Hi everyone,

    I'm hoping some of you could update me with a link, or some updated info about when we could be seeing some of this money that FTP still has. I was a casual player, and I haven't stayed up to date on all the news. Any help would be greatly appreciated, because right now if I try to sign on to FTP, it doesn't even get to the sign on screen. It's been like this for a while now. Just wondering if this is the case for everyone or if I need to do something else. Thanks for the info.
  2. Dan Dan is online now Administrator

    Posts: 5,239
    Joined: May 06

    Aug 9th, 2011 (8/9/2011 2:42am) in reply to jessemez23

    Here are a couple of articles that might help you catch up:

    http://www.pocketfives.com/articles/...-funds-586686/
    http://www.pocketfives.com/articles/...ntinue-586665/

    Funds are still not available to U.S. players and non-U.S. players alike.
     
  3. jessemez23 jessemez23 is offline

    Madison, WI
    United States

    Posts: 36
    Joined: Dec 07

    Aug 9th, 2011 (8/9/2011 3:05am) in reply to Dan

    Thanks for the links. Appreciate it
    Thread Starter
  4. pokerproplaya08 pokerproplaya08 is offline

    FL
    United States

    Posts: 1,043
    Joined: Nov 09

    Aug 9th, 2011 (8/9/2011 4:47am) in reply to jessemez23

    i read a tweet that someone said that they laid off international staff..if so, gg.

    lol kinda sick we all might've been playing with play chips for the past few months :\
  5. Dan2330 Dan2330 is offline

    Joliet, IL
    United States

    Posts: 21
    Joined: Sep 06

    Aug 9th, 2011 (8/9/2011 2:40pm) in reply to pokerproplaya08

    Here's the latest update from FTP:

    blah, blah, blah, blah, Howder Leder is a fat ass, blah, blah, we will rip everyone American off of what we owe them, blah, blah, and blah...
  6. McBain74 McBain74 is offline

    Canada

    Posts: 1,610
    Joined: Jan 10

    Aug 9th, 2011 (8/9/2011 11:44pm) in reply to Dan2330

     
    Originally Posted by Dan2330 View Post

    Here's the latest update from FTP:

    blah, blah, blah, blah, Howder Leder is a fat ass, blah, blah, we will rip everyone American off of what we owe them, blah, blah, and blah...

    whaaaaat?
     
  7. C_Bomb C_Bomb is offline

    Croydon
    Australia

    Posts: 755
    Joined: Jun 09

    Aug 10th, 2011 (8/10/2011 1:02am) in reply to McBain74

    It was reported that the staff in Argentina were laid off, but no confirmation of how many or if this was the same in all countries.

    It could also mean that a sale has gone through and the buyers are clearing out staff they don't feel they need.

    Pure theory at this stage though
  8. DeaconMike DeaconMike is offline

    Rockaway Beach, MO
    United States

    Posts: 428
    Joined: Nov 06

    Aug 10th, 2011 (8/10/2011 4:28am) in reply to C_Bomb

    Or it could mean that the sale didn't go through and they're
    closing up shop. I'm not holding out any hope that I'll see
    any of the money I had left on FTP and have felt this way
    a few weeks after stars paid us back and FTP didn't.

    I'm sure there's always a chance US players will get their
    money back but with the credibility FTP has lost worldwide
    the European investors that were looking to buy FTP would
    be better off starting a new site over taking on the baggage
    FTP left behind. jmho
  9. doinwork09 doinwork09 is offline

    Moorhead, MN
    United States

    Posts: 185
    Joined: May 09

    Aug 10th, 2011 (8/10/2011 4:36am) in reply to DeaconMike

    I've given up hope. I would say 10% chance we get the money
     
  10. MarkFSU1 MarkFSU1 is offline

    Posts: 3,464
    Joined: Apr 07

    Aug 10th, 2011 (8/10/2011 6:02am) in reply to doinwork09

    cant give up hope, but wow what a roller coaster
     
  11. realpokerpro realpokerpro is offline

    Posts: 56
    Joined: Jun 11

    Aug 10th, 2011 (8/10/2011 6:20am) in reply to MarkFSU1

    The main thing we are waiting for is for FT and stars to settle with the DOJ. Then if there is any money left over then hopefully we get some of it.

    I'm sure you will hear some noise of a FT buyout, legalizing poker or maybe even aliens coming from Mars to save online poker but these are all distractions.
  12. FlashWade3 FlashWade3 is offline

    Milwaukee, WI
    United States

    Posts: 15
    Joined: Oct 05

    Aug 10th, 2011 (8/10/2011 7:15am) in reply to realpokerpro

    Wow, this post couldn't be more wrong. DOJ already made a deal with both FTP and stars to give US citizens their money back. Stars did this immediately after because they kept players funds separate from rake/investments unlike FTP who has basically shown their cards as being insolvent (thus why they won't pay anyone's cashouts outside of the US as well). This is why noone in the US has seen a penny and Stars is still flourishing worldwide outside US. FTP played with fire thinking they could continue shady investing of player deposits never thinking the US would ever crack down on the law they sketch-ly passed thru congress 6 years ago. Stars was ready, FTP was not.

    Not only that, FTP turned down an offer when all this went down to sell their entire stake in FTP for enough to pay back US players, but cocksuckers like Ray Bitar and Howard Lederer turned it down because they still wanted a piece of the pie. Now their sites identity has been dragged through the mud and it's all over worldwide due to lack of trust that their funds are secure because they never were to begin with. No one will see a cent and I hope Bitar and Lederer spend time in jail for the scumbag shit they pulled.
  13. iplaywaytootight iplaywaytootight is offline

    Royal Oak, MI
    United States

    Posts: 557
    Joined: Dec 06

    Aug 10th, 2011 (8/10/2011 5:38pm) in reply to FlashWade3

    doesnt fdic cover this sort of thing?
  14. grandmamoneybags grandmamoneybags is offline

    Atlanta, GA
    United States

    Posts: 574
    Joined: Oct 09

    Aug 10th, 2011 (8/10/2011 7:10pm) in reply to MarkFSU1

     
    Originally Posted by MarkFSU1 View Post

    cant give up hope, but wow what a roller coaster


    did you have heaps on UB as well? i'm pretty sick about this ish but at this point getting my dough back would feel like free money. Go noles btw.
  15. agilles agilles is offline

    Posts: 342
    Joined: Oct 08

    Aug 10th, 2011 (8/10/2011 7:34pm) in reply to grandmamoneybags

    I would love to be ok with the idea that our money is just GONE, but for all those people who have 20k+ locked up. Is there any other options to explore? This is just so far beyond ridiculous.

    Bitar should go to prison for a very long time, no idea what Lederer's involvement has really been. I'm almost going to assume that the sponsered pros have already gotten withdrawals? Puts such a sick feeling in my stomach.
  16. craigdog77 craigdog77 is offline

    Launceston
    Australia

    Posts: 8
    Joined: Nov 06

    Aug 11th, 2011 (8/11/2011 7:29am) in reply to z0n@Crew

    I will free rolling with my 3k if ftp get back up cause i already consider it gone
  17. matze_widi matze_widi is offline

    Stuttgart
    Germany

    Posts: 1,695
    Joined: Jul 08

    Aug 11th, 2011 (8/11/2011 12:21pm) in reply to craigdog77

    i def feel like we are on a freeroll if we ever see the money again.
    would be awesome to get it back, but i doubt thats gonna happen.
    so hang tough guys and finda a way to fight back
     
  18. Josek Josek is offline

    Krakw
    Poland

    Posts: 71
    Joined: Jul 10

    Aug 11th, 2011 (8/11/2011 1:26pm) in reply to matze_widi

    does ftp have 0 cash right now? i guess not, they're just short of a lot of it... so if at the end they have to shut down completely, they can't just take the money... i, quite optimistically assume, we will see a percentage of what we all had if they're unable to get back from this mess
     
  19. Lenail Lenail is offline

    Vevey
    Switzerland

    Posts: 1,042
    Joined: Apr 08

    Aug 11th, 2011 (8/11/2011 5:06pm) in reply to FlashWade3

     
    Originally Posted by FlashWade3 View Post

    Wow, this post couldn't be more wrong. DOJ already made a deal with both FTP and stars to give US citizens their money back. Stars did this immediately after because they kept players funds separate from rake/investments unlike FTP who has basically shown their cards as being insolvent (thus why they won't pay anyone's cashouts outside of the US as well). This is why noone in the US has seen a penny and Stars is still flourishing worldwide outside US. FTP played with fire thinking they could continue shady investing of player deposits never thinking the US would ever crack down on the law they sketch-ly passed thru congress 6 years ago. Stars was ready, FTP was not.

    Not only that, FTP turned down an offer when all this went down to sell their entire stake in FTP for enough to pay back US players, but cocksuckers like Ray Bitar and Howard Lederer turned it down because they still wanted a piece of the pie. Now their sites identity has been dragged through the mud and it's all over worldwide due to lack of trust that their funds are secure because they never were to begin with. No one will see a cent and I hope Bitar and Lederer spend time in jail for the scumbag shit they pulled.

    makes a lot of sense, only I never see Bitar and Lederer spend a day in jail on non-regulated activities..

     
    Originally Posted by agilles View Post

    I would love to be ok with the idea that our money is just GONE, but for all those people who have 20k+ locked up. Is there any other options to explore? This is just so far beyond ridiculous.

    Bitar should go to prison for a very long time, no idea what Lederer's involvement has really been. I'm almost going to assume that the sponsered pros have already gotten withdrawals? Puts such a sick feeling in my stomach.

    Why only 20K+ ??
    - no, unless u know Lederer..
    - for those who have money the site, certainly, - for those who have depts (which i feel most of them) I let you guess..

     
    Originally Posted by Josek View Post

    does ftp have 0 cash right now? i guess not, they're just short of a lot of it... so if at the end they have to shut down completely, they can't just take the money... i, quite optimistically assume, we will see a percentage of what we all had if they're unable to get back from this mess

    Sick results you had on FTP dude, sorry for you.
    Idk a lot about international money recovering companies but my experience tell me that if they shut down, they can just take the money. In a business under a state authority-legalisation, I can see ppl gettin part of their due but in a case of gambling off shore companies, we better be ready for the worse.
    I still feel there is a hope as the pro involved needs to preserve their reputation, if not, i hope they will hear from us forever in any live game they play.
  20. opgonbad opgonbad is offline

    Morrison, CO
    United States

    Posts: 163
    Joined: Feb 10

    Aug 12th, 2011 (8/12/2011 1:28am) in reply to Lenail

    I'd settle for. 60 on the dollar about now
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