80% of Full Tilt Poker Petitions Have Been Paid
According to Garden City Group, the appointed claims administrator for US Full Tilt Poker refunds, 80% of petitions have been paid back. The most recent round of payments came on March 31 and was the first destined for players with disputed totals. There were 3,100 payments sent totaling $2.5 million.
Two more dates are now in sight for those players who are still owed refunds. According to Garden City Group, “If you received a notice that your bank account information is incorrect or incomplete, please update your account information online by April 16. If you received a notice because you have a debt qualifying for collection through the Treasury Offset Program, please send your completed Unified Financial Management System Vendor Request Form to GCG by April 23.”
Full Tilt left the US market on Black Friday before being found insolvent. In fact, the US Government called it a “global Ponzi scheme.” The first round of US payments through Garden City Group came in March 2014, almost three full years after Black Friday, and consisted of 27,500 payments totaling $76 million. Overall, Garden City Group has refunded almost $100 million.
Next week marks the four-year anniversary of Black Friday. In addition to Full Tilt, PokerStars, UB, and Absolute Poker also left the market after their founders and associated payment processors were indicted by the DOJ on a variety of charges including money laundering and violating the UIGEA.
When the next round of Full Tilt payments will be sent out remains to be seen, as Garden City Group has not issued any further information on its website, FullTiltPokerClaims.com. Anyone with questions about the claims process should call 866-250-2640 or email Info@FullTiltPokerClaims.com.
According to Online Poker Report, players who have yet to be paid back include those with disputed balances “over $2,000 or [whose totals] are between $500 and $2000 and the difference between the reported balance and the GCG balance is greater than 20%.”
Stay tuned to PocketFives for the latest Full Tilt remission news.
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