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FTP Update: deal signed.. now under embargo

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  1. brady2moss45 brady2moss45 is online now

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    Nov 17th, 2011 (11/17/2011 9:21pm)

    http://finance.yahoo.com/news/Groupe...3.html?x=0&l=1

    CNN had an article posted as well but has since removed it.
    505 
  2. wackyJaxon wackyJaxon is offline Admin X

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    Nov 17th, 2011 (11/17/2011 9:31pm) in reply to brady2moss45

    Awesome news! I hope nothing goes wrong and we all get our money back and the software is up and running under the new owners soon again!

    I wonder why CNN took it down :(

     

    As part of the deal, the French firm will take responsibility for the burned players outside the U.S., while the Department of Justice will facilitate paybacks to the American gamblers who lost about $150 million. American players will have to apply to the DOJ for compensation.

    This sounds good to me!
      1 
  3. P0KERDUUDE P0KERDUUDE is offline

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    Nov 17th, 2011 (11/17/2011 9:42pm) in reply to wackyJaxon

    So how do I apply to the DOJ to get my money?
     
  4. ApesAreFun ApesAreFun is offline Moderator/Euro Donk

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    Nov 17th, 2011 (11/17/2011 9:44pm) in reply to P0KERDUUDE

    I miss FTP....
     
  5. MUPokerPlayer MUPokerPlayer is offline

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    Nov 17th, 2011 (11/17/2011 9:53pm) in reply to P0KERDUUDE

    I wonder how I am going to explain to the DOJ that I also need compensation for the the $2k check in my possession that I never cashed b/c I received it the day before black Friday?
  6. P0KERDUUDE P0KERDUUDE is offline

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    Nov 17th, 2011 (11/17/2011 9:57pm) in reply to MUPokerPlayer

     
    Originally Posted by MUPokerPlayer View Post

    I wonder how I am going to explain to the DOJ that I also need compensation for the the $2k check in my possession that I never cashed b/c I received it the day before black Friday?

    Ya I am also wondering what will be done about the $2.5k that I withdrew on BF that was withdrawn from my account (via bank xfer) but never went through.
    Edited By: P0KERDUUDE Nov 17th, 2011 at 09:58 PM
    Reason: grammatical failure
     
  7. Dan Dan is offline Administrator

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    Nov 17th, 2011 (11/17/2011 10:08pm) in reply to P0KERDUUDE

    I can confirm that the CNN story is true. Here's our feature article on PocketFives with a lot more info:

    http://www.pocketfives.com/articles/...illion-586957/
     
  8. the_dean22 the_dean22 is offline

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    Nov 17th, 2011 (11/17/2011 10:18pm) in reply to P0KERDUUDE

     
    Originally Posted by P0KERDUUDE View Post

    Ya I am also wondering what will be done about the $2.5k that I withdrew on BF that was withdrawn from my account (via bank xfer) but never went through.


    I was wondering the same. I imagine this will be an issue for tons of ppl, I hope we don't have trouble collecting on the funds that got lost in limbo between payment processors and our accts
     111

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  9. brady2moss45 brady2moss45 is online now

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    Nov 17th, 2011 (11/17/2011 10:33pm) in reply to the_dean22

     
    Originally Posted by the_dean22 View Post

    I was wondering the same. I imagine this will be an issue for tons of ppl, I hope we don't have trouble collecting on the funds that got lost in limbo between payment processors and our accts


    I also tried transferring 2.5k on BF which was instantly denied and placed back into my FTP account a few hours later. Hopefully this happened for everyone else.
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  10. vicvegas007 vicvegas007 is offline

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    Nov 17th, 2011 (11/17/2011 10:35pm) in reply to brady2moss45

    Does this mean i will get my $8? (Sad but true).
  11. ApesAreFun ApesAreFun is offline Moderator/Euro Donk

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    Nov 17th, 2011 (11/17/2011 10:36pm) in reply to the_dean22

     
    Originally Posted by the_dean22 View Post

    I was wondering the same. I imagine this will be an issue for tons of ppl, I hope we don't have trouble collecting on the funds that got lost in limbo between payment processors and our accts

    Yeah. I got 5k pending.
     
  12. Spraggs Spraggs is offline

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    Nov 17th, 2011 (11/17/2011 10:38pm) in reply to ApesAreFun

    I'm still not going to get too carried away, but I had 2 withdrawals pending when the license was revoked.

    This must have been discussed with the DOJ, and they must have access to everyones account records still, would be ridiculous if they didn't.

    Hope they are un-tampered too
    Edited By: Spraggs Nov 17th, 2011 at 10:39 PM
    820 
  13. Brain Damage Brain Damage is offline

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    Nov 17th, 2011 (11/17/2011 10:54pm) in reply to Spraggs

    I'm in the same boat with the 2.5k transfer in limbo, but I feel that mess will take so long to account for that i'm not worrying about it at this point. I am way more concerned about what I have on ftp.
     
  14. McBain74 McBain74 is offline

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    Nov 18th, 2011 (11/18/2011 12:07am) in reply to ApesAreFun

     
    Originally Posted by ApesAreFun View Post

    I miss FTP....

    this......and cue a sad country song!
    Edited By: McBain74 Nov 18th, 2011 at 12:09 AM
     
  15. adamsapple19 adamsapple19 is offline

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    Nov 18th, 2011 (11/18/2011 1:05am) in reply to McBain74

    "American players will have to apply to the DOJ for compensation."

    Wait wtf? So at this point I'm effectively waiting for communication from the DOJ regarding the status/return of my funds?

    What's the deal w CNN removing the story and the other yahoo story being "embargoed"?
     
  16. nickyluvshu nickyluvshu is offline

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    Nov 18th, 2011 (11/18/2011 1:11am) in reply to adamsapple19

    looks great! I really missed FTP and monkey king avatar!
    372 
  17. wackyJaxon wackyJaxon is offline Admin X

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    Nov 18th, 2011 (11/18/2011 1:14am) in reply to nickyluvshu

     
    Originally Posted by ApesAreFun View Post

    I miss FTP....

     
    Originally Posted by McBain74 View Post

    this......and cue a sad country song!

     
    Originally Posted by nickyluvshu View Post

    looks great! I really missed FTP and monkey king avatar!

    I miss the 10 game cash and Rush PLO. Really hope we can trust the new owners if/when the site gets back up and running.
      1 
  18. PDV1979 PDV1979 is offline

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    Nov 18th, 2011 (11/18/2011 2:15am) in reply to adamsapple19

    How do I apply to the DOJ for compensation? will they 4 sure have this info?
  19. Dan Dan is offline Administrator

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    Nov 18th, 2011 (11/18/2011 2:44am) in reply to PDV1979

    This Wall Street Journal article has quite a bit of info too:

    http://online.wsj.com/article/SB1000...491036394.html
     
  20. cream626 cream626 is offline

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    Nov 18th, 2011 (11/18/2011 3:52am) in reply to Dan

    In the article it quoted a guy from the other poker site talking about players who didnt take a screen shot of their balances. I must have missed the memo telling us to take one. After all this, is a screenshot really going to jeopardize getting my whole net worth back?
     
  21. doinwork09 doinwork09 is offline

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    Nov 18th, 2011 (11/18/2011 4:01am) in reply to cream626

     
    Originally Posted by cream420 View Post

    In the article it quoted a guy from the other poker site talking about players who didnt take a screen shot of their balances. I must have missed the memo telling us to take one. After all this, is a screenshot really going to jeopardize getting my whole net worth back?

    Screen shot doesnt really mean anything.... Player balances have to come from the data stored
     
  22. ApesAreFun ApesAreFun is offline Moderator/Euro Donk

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    Nov 18th, 2011 (11/18/2011 4:33am) in reply to cream626

     
    Originally Posted by cream420 View Post

    In the article it quoted a guy from the other poker site talking about players who didnt take a screen shot of their balances. I must have missed the memo telling us to take one. After all this, is a screenshot really going to jeopardize getting my whole net worth back?

    Dont worry about that. A screenshot is worthless. Just think about photoshop =)
     
  23. lunarphase lunarphase is offline

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    Nov 18th, 2011 (11/18/2011 5:13am) in reply to ApesAreFun

    It's annoying how we're always being teased with these pieces of information without the real answers we're looking for. It would be nice if any of these updates could at least give us a glimpse into how long it will be before we can request our funds and how we would go about requesting it. I would imagine at this point that we would be able to get our money back in the u.s. within a year but are we looking at something along the line of 1-3 months or would it be something more along the line of 9-12 months.
    Edited By: lunarphase Nov 18th, 2011 at 05:14 AM
     
  24. felipebball felipebball is offline

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    Nov 18th, 2011 (11/18/2011 5:15am) in reply to lunarphase

    So having moved from the US to New Zealand pre-BF, switching my address, but then having them switch my account back to my old US address on BF and it remains as my old US address. Any ideas on what the process will be in these situations, as I'm sure there will be a lot of them of people that moved to different countries to play (not that I did that).
     
  25. Dan Dan is offline Administrator

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    Nov 18th, 2011 (11/18/2011 6:01am) in reply to lunarphase

     
    Originally Posted by lunarphase View Post

    It's annoying how we're always being teased with these pieces of information without the real answers we're looking for. It would be nice if any of these updates could at least give us a glimpse into how long it will be before we can request our funds and how we would go about requesting it. I would imagine at this point that we would be able to get our money back in the u.s. within a year but are we looking at something along the line of 1-3 months or would it be something more along the line of 9-12 months.

    I asked this exact question to a lawyer involved in the case (Jeff Ifrah) and got the answer of "No clue." There are still a few hurdles. This needs approval from FTP shareholders and the DOJ's final stamp. Then, the DOJ likely needs to contract a bank or some financial institution to dole out funds. Any of us guessing whether it would be 1-3 months or 9-12 months would be exactly that - a guess.
     
  26. Andrew Andrew is offline

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    Nov 18th, 2011 (11/18/2011 6:12am) in reply to Dan

    I actually took a screenshot around black friday but there is no way this is going to be the deciding factor on whether or not you get payed. My cousin had 10k in his FTP account but never verified his address or cashed out. Any idea how that will work for him?
  27. MUPokerPlayer MUPokerPlayer is offline

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    Nov 18th, 2011 (11/18/2011 8:51pm) in reply to Andrew

    lol @ a screenshot proving anything. my 'screenshot' says I have a couple mill in there. awesome!
  28. MikeBucks MikeBucks is offline

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    Nov 18th, 2011 (11/18/2011 9:08pm) in reply to MUPokerPlayer

    Just read the espn article and it says "Ifrah said the deal (with the DOJ) specifically permits the re-entery of Full Tilt Poker into the U.S. marketplace if online poker becomes legalized and regulated."

    That's pretty interesting. And the sale is looking pretty hopeful!
    Edited By: MikeBucks Nov 18th, 2011 at 09:09 PM
     
  29. P0KERDUUDE P0KERDUUDE is offline

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    Nov 19th, 2011 (11/19/2011 12:35am) in reply to MikeBucks

     
    Originally Posted by MikeBucks View Post

    Just read the espn article and it says "Ifrah said the deal (with the DOJ) specifically permits the re-entery of Full Tilt Poker into the U.S. marketplace if online poker becomes legalized and regulated."

    That's pretty interesting. And the sale is looking pretty hopeful!

    Was the deal with pokerstars different? Would they be allowed back into the market immed. after online poker was legalized?
     
  30. jhill3535 jhill3535 is offline

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    Nov 19th, 2011 (11/19/2011 12:45am) in reply to P0KERDUUDE

    I don't think that is up to the DOJ to determine. Entry will be decided by the regulating body that regulates legal online poker in the USA. It may also be written into the bills that pass congress, and the DOJ definitely doesn't have the ability to add text to bills in progress.

    Edit: I guess what they are saying is that the true/audited ownership would change enough that no one could consider FTP1 = FTP2 even if they are using the same Brand Name. This couldn't be said with pokerstars which would most likely be under the same ownership. An above table sell of PokerStars to a major casino group could however change that.
    Edited By: jhill3535 Nov 19th, 2011 at 12:50 AM
     
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