[x]

Stars/FTP Deal Complete -- Player Balances to be Repaid

Reply to Thread
Page 1 of 101 2 3
  1. Dan Dan is online now Administrator

    United States

    Posts: 7,811
    Joined: May 06

    Jul 31st, 2012 (7/31/2012 4:48pm)

    Looks like it's done:

    http://diamondflushpoker.com/2012/07...ment-complete/

    Gary Wise ‏@GaryWise1 According to documentation received from the DOJ the deal is completed. More to come at http://ESPN.com , including compensation details
     
  2. StayCalm StayCalm is offline

    Stamford, CT
    United States

    Posts: 823
    Joined: Jul 08

    Jul 31st, 2012 (7/31/2012 4:53pm) in reply to Dan

    weeeeeeeeeee
  3. tyson219 tyson219 is offline Moderator

    United States

    Posts: 2,690
    Joined: Feb 06

    Jul 31st, 2012 (7/31/2012 4:53pm) in reply to StayCalm

    Wow. That's great. This probably warrants a new thread for once.

    ROW Players: Once the asset transfer has been completed, and within a period not to exceed 90 days, pokerstars committed to make available for immediate withdrawal, without limitation or restriction, other than required by applicable law, the online poker account balances of non USA Full Tilt Poker players.

    US Players: US players with account balances outstanding, will be compensated separately. U.S. victims of the offenses allegedly committed by the FTP companies or other members of the FTP group as put forth in the amended civil complaint, shall have the opportunity to file a petition for remission with the U.S. Department of Justice, Asset Forfeiture Money Laundering Service (AFMLS), taking into regard the PokerStars forfeited funds, to seek compensation for their losses.
      1
  4. Spraggs Spraggs is offline

    United Kingdom

    Posts: 856
    Joined: Aug 07

    Jul 31st, 2012 (7/31/2012 4:55pm) in reply to tyson219

    stars apparently making available

    184 million to ROW players

    150million to US players.

    Is this the full amount or are players being paid back %'s?
    820 
  5. tyson219 tyson219 is offline Moderator

    United States

    Posts: 2,690
    Joined: Feb 06

    Jul 31st, 2012 (7/31/2012 4:56pm) in reply to Spraggs

    FTP press release

    diamondflushpoker.com/2012/07/full-tilt-poker-issues-media-release-following-civil-settlement/

    Full Tilt Poker Issues Media Release Following Civil Settlement
    Posted on July 31, 2012 by Diamond Flush
    The following press release was prepared by Full Tilt Poker in connection with the conclusion of their civil settlement, and the acquisisiton of assets by pokerstars.

    FULL TILT POKER CONCLUDES TRANSACTION WITH POKERSTARS AND UNITED STATES DEPARTMENT OF JUSTICE

    Agreement Ends Civil Forfeiture Proceedings and Includes Payment For All Players

    Dublin – July 31, 2012 – Full Tilt Poker is very pleased to announce the conclusion of a three-way transaction with PokerStars and the United States Department of Justice which will result in all of FTP’s US players having the opportunity to be paid. The agreement ends the company’s civil forfeiture proceedings with the U.S. Department of Justice.

    Under the terms of the agreement, PokerStars will pay a substantial amount of money to the United States, and the government has agreed that all U.S. players will have an opportunity to request that they be compensated out of those funds for their losses. In addition, within ninety days PokerStars will make available for immediate cash withdrawal or play, the account balances for all of Full Tilt Poker’s non-U.S. players.

    Full Tilt Poker apologizes to all of its customers who endured a long and difficult period wondering whether this day would ever come.

    Full Tilt Poker expresses its appreciation to its loyal employees whose hard work over the last 15 months preserved the value of the Full Tilt Poker assets so a deal like this could be possible, and to PokerStars and the United States Department of Justice for their efforts in bringing about this resolution.

    Jeff Ifrah of Ifrah Law PLLC, (Washington, D.C.) Barry Boss and Anne Madonia of Cozen O’Connor (Washington, D.C. and Philadelphia, PA respectively), Tony Coles and Charles Gerada of Jeffrey Green Russell Solicitors (London), and Tony O’Grady of Matheson Ormsby Prentice (Dublin) represented the affiliated companies that owned and operated Full Tilt .
    Edited By: tyson219 Jul 31st, 2012 at 04:57 PM
      1
  6. Acanthopis Acanthopis is offline

    Coral Gables, FL
    United States

    Posts: 618
    Joined: Jan 07

    Jul 31st, 2012 (7/31/2012 5:01pm) in reply to tyson219

    The "opportunity" to be repaid wording still scares me, here's hoping things go smoothly
     
  7. Salamander0 Salamander0 is offline

    Fredericton
    Canada

    Posts: 301
    Joined: Nov 08

    Jul 31st, 2012 (7/31/2012 5:02pm) in reply to Acanthopis

    anyone else shout, clap, and dance around like a spazz like i did?

    =)
     
  8. supra1988t supra1988t is offline

    Cary, IL
    United States

    Posts: 2,451
    Joined: Sep 05

    Jul 31st, 2012 (7/31/2012 5:03pm) in reply to Salamander0

    They mention us players will be compensated for their losses, this means account balances correct?
     
  9. B_O_K_E B_O_K_E is offline

    Columbus, OH
    United States

    Posts: 4,762
    Joined: May 05

    Jul 31st, 2012 (7/31/2012 5:05pm) in reply to supra1988t

    "PS... are precluded from offering online poker for real money play in the US until if and when it becomes permissible to do so under .. law"

    Is this a false sense of hope here?
     
  10. mattdb9er mattdb9er is offline

    San Ramon, CA
    United States

    Posts: 1,135
    Joined: Sep 09

    Jul 31st, 2012 (7/31/2012 5:07pm) in reply to supra1988t

     
    Originally Posted by supra1988t View Post

    They mention us players will be compensated for their losses, this means account balances correct?

    but says we have to file a petition? am i reading this correct
     
  11. jalman1 jalman1 is offline

    Posts: 6,573
    Joined: Jun 06

    Jul 31st, 2012 (7/31/2012 5:07pm) in reply to mattdb9er

    this is awesome news obviously.....


    I moved to Canada 4 weeks after black friday and had my full tilt poker account switched to a Canadian address before they got shut down sometimes in june. I wonder if ill be paid out as an american player or as a canadian
    426 4
  12. DominicV DominicV is offline

    North Aurora, IL
    United States

    Posts: 4
    Joined: Jun 11

    Jul 31st, 2012 (7/31/2012 5:09pm) in reply to B_O_K_E

     
    Originally Posted by B_O_K_E View Post


    Is this a false sense of hope here?

    Depends on what you're hoping for. Online play in the U.S. Not gonna happen anytime soon. U.S. players getting their money? After you fill out forms and submit them to the government, they will give you at least part of it. Probably after they make you admit to depositing knowing it was ilegal.
  13. BMad524 BMad524 is offline

    Chicago, IL
    United States

    Posts: 591
    Joined: Sep 09

    Jul 31st, 2012 (7/31/2012 5:09pm) in reply to DominicV

    Wow. Hopefully this is a hurdle out of the way for federal legislation.

    I hope these payments are 100% for everyone. Regardless, big improvement from the status quo
  14. scottypimpin1 scottypimpin1 is offline

    San Diego, CA
    United States

    Posts: 271
    Joined: Aug 11

    Jul 31st, 2012 (7/31/2012 5:10pm) in reply to BMad524

    Another link: http://pokerfuse.com/news/law-and-re...deal-complete/
  15. Camz Camz is offline

    Lafayette, LA
    United States

    Posts: 16,009
    Joined: May 06

    Jul 31st, 2012 (7/31/2012 5:11pm) in reply to Dan

    FTP players rejoice. The saga is over. Make it rain yall

    http://diamondflushpoker.com/2012/07...il-settlement/
    Edited By: Camz Jul 31st, 2012 at 05:11 PM
  16. cdmalgee cdmalgee is offline

    Richmond, VA
    United States

    Posts: 5,099
    Joined: Dec 05

    Jul 31st, 2012 (7/31/2012 5:11pm) in reply to Camz

    first
  17. ripomatic ripomatic is online now

    Posts: 3,672
    Joined: Jan 08

    Jul 31st, 2012 (7/31/2012 5:11pm) in reply to cdmalgee

    yuuuuuuuuuuuuuuuuuuuuuup!
  18. Cmoney3 Cmoney3 is offline

    United States

    Posts: 12,658
    Joined: Dec 05

    Jul 31st, 2012 (7/31/2012 5:12pm) in reply to ripomatic

    no fucking way!!!!!!!!!
  19. that_pope that_pope is offline la la la...I'm so sexy

    Tempe, AZ
    United States

    Posts: 10,329
    Joined: Apr 05

    Jul 31st, 2012 (7/31/2012 5:12pm) in reply to tyson219

    Finally. Now we wait for the details on how to complete this nightmare.
  20. jalman1 jalman1 is offline

    Posts: 6,573
    Joined: Jun 06

    Jul 31st, 2012 (7/31/2012 5:12pm) in reply to Cmoney3

    hooray i just found 25k under my couch cushion
    426 4
  21. slidethebutton slidethebutton is offline

    Cleveland, TN
    United States

    Posts: 151
    Joined: Aug 11

    Jul 31st, 2012 (7/31/2012 5:14pm) in reply to jalman1

    Yea, the links broke..Need more info about the petition for remission..was that a copy/paste from the whole announcement?..Is there any more info available?
  22. djg23 djg23 is online now

    United Kingdom

    Posts: 8,219
    Joined: Sep 07

    Jul 31st, 2012 (7/31/2012 5:15pm) in reply to jalman1

    I don't know how much I actually had in there (nothing like a lot of you) but this is a nice little bonus
  23. Camz Camz is offline

    Lafayette, LA
    United States

    Posts: 16,009
    Joined: May 06

    Jul 31st, 2012 (7/31/2012 5:16pm) in reply to djg23

    Full Tilt Poker Issues Media Release Following Civil Settlement
    Posted on July 31, 2012 by Diamond Flush
    The following press release was prepared by Full Tilt Poker in connection with the conclusion of their civil settlement, and the acquisisiton of assets by pokerstars.

    FULL TILT POKER CONCLUDES TRANSACTION WITH POKERSTARS AND UNITED STATES DEPARTMENT OF JUSTICE

    Agreement Ends Civil Forfeiture Proceedings and Includes Payment For All Players

    Dublin – July 31, 2012 – Full Tilt Poker is very pleased to announce the conclusion of a three-way transaction with PokerStars and the United States Department of Justice which will result in all of FTP’s US players having the opportunity to be paid. The agreement ends the company’s civil forfeiture proceedings with the U.S. Department of Justice.

    Under the terms of the agreement, PokerStars will pay a substantial amount of money to the United States, and the government has agreed that all U.S. players will have an opportunity to request that they be compensated out of those funds for their losses. In addition, within ninety days PokerStars will make available for immediate cash withdrawal or play, the account balances for all of Full Tilt Poker’s non-U.S. players.

    Full Tilt Poker apologizes to all of its customers who endured a long and difficult period wondering whether this day would ever come.

    Full Tilt Poker expresses its appreciation to its loyal employees whose hard work over the last 15 months preserved the value of the Full Tilt Poker assets so a deal like this could be possible, and to PokerStars and the United States Department of Justice for their efforts in bringing about this resolution.

    Jeff Ifrah of Ifrah Law PLLC, (Washington, D.C.) Barry Boss and Anne Madonia of Cozen O’Connor (Washington, D.C. and Philadelphia, PA respectively), Tony Coles and Charles Gerada of Jeffrey Green Russell Solicitors (London), and Tony O’Grady of Matheson Ormsby Prentice (Dublin) represented the affiliated companies that owned and operated Full Tilt .
  24. that_pope that_pope is offline la la la...I'm so sexy

    Tempe, AZ
    United States

    Posts: 10,329
    Joined: Apr 05

    Jul 31st, 2012 (7/31/2012 5:16pm) in reply to jalman1

     
    Originally Posted by jalman1 View Post

    this is awesome news obviously.....

    I moved to Canada 4 weeks after black friday and had my full tilt poker account switched to a Canadian address before they got shut down sometimes in june. I wonder if ill be paid out as an american player or as a canadian

    US.

    One of the articles/press releases said they are determining your origin based on what your account said on April 14th 2011.
  25. stackinsideways stackinsideways is offline

    Anonymous Proxy

    Posts: 10,882
    Joined: Mar 08

    Jul 31st, 2012 (7/31/2012 5:16pm) in reply to Camz

    bink
     
  26. sonieme sonieme is offline

    Toledo, OH
    United States

    Posts: 167
    Joined: Jun 06

    Jul 31st, 2012 (7/31/2012 5:16pm) in reply to jalman1



    Oh wait, you said paid. That's good too.
  27. rayspizza rayspizza is offline

    Posts: 2,810
    Joined: Dec 06

    Jul 31st, 2012 (7/31/2012 5:17pm) in reply to sonieme

    Looks like US players will have to request thier money from the DOJ. Non-US will be given money directly from poker stars. Wish I was dealing with PS instead of DOJ
  28. Cbank32 Cbank32 is offline

    Posts: 96
    Joined: May 07

    Jul 31st, 2012 (7/31/2012 5:17pm) in reply to slidethebutton

    so assuming ftp email support is as bad or worse than it used to be, how do those of us that moved out of the US figure out if we can withdraw as ROW players or US players?

    edit: nevermind..guess we have to go thru DOJ
    Edited By: Cbank32 Jul 31st, 2012 at 05:20 PM
     
  29. matze_widi matze_widi is offline

    Stuttgart
    Germany

    Posts: 1,924
    Joined: Jul 08

    Jul 31st, 2012 (7/31/2012 5:18pm) in reply to Cbank32

    weeeeeeeeeeeeeeeeeeeeeeeeee

    more $$ to donk off, vammoooooo
      
  30. s1nnr s1nnr is offline will stab you

    Philadelphia, PA
    United States

    Posts: 9,928
    Joined: Mar 07

    Jul 31st, 2012 (7/31/2012 5:18pm) in reply to rayspizza

    Woooohoooo! I can finally withdrawal and mail a check to
    Pghfan... Lol
Reply to Thread
Page 1 of 101 2 3