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Found 2 results

  1. [caption width="640"] Players with balances on AbsolutePoker and UB can now apply for a refund through the US Department of Justice.[/caption] Just five days before what will be the sixth anniversary of Black Friday, online poker players affected by the shutdown of AbsolutePoker.com and UB.com have gotten good news from the United States Attorney's Office or the Southern District of New York. Beginning immediately, players who had funds on AbsolutePoker.com and UB.com on April 15, 2011, can apply to have their balances refunded to them via AbsolutePokerClaims.com. The US Department of Justice has again contracted Garden City Group to handle all applications and payments. In a press release from the DOJ issued Monday afternoon, Joon H. Kim, who is the Acting United States Attorney for the Southern District of New York following the resignation of Preet Bharara, announced the compensation program. "Joon H. Kim, the Acting United States Attorney for the Southern District of New York, announced today that the United States has retained the Garden City Group (“GCG”) to oversee a process for compensating eligible victims of a fraud committed by Absolute Poker against United States players who were unable to withdraw funds from Absolute Poker following the Office’s filing in 2011 of a civil money laundering and forfeiture action against Absolute Poker and others in United States v. PokerStars, et al. GCG is already overseeing the claims process for eligible victims of the fraud committed by Full Tilt Poker against United States players, as described in both United States v. PokerStars, et al., and the indictment in the parallel criminal case, United States v. Bitar, et. al. To date, approximately $118 million has been paid to Full Tilt Poker fraud victims through that process. The process is nearly identical to the one used by the GCG to refund players with Full Tilt Poker balances. That process, which is "winding down" according to the DOJ, paid out $118,116,918.04 to 44,320 American players. The deadline to apply is June 9, 2017. Past or present employees, company shareholders, company officers or directors or "Professional Poker Players" and affiliates are ineligible. During the Full Tilt remissions process, many FTP pros were denied their initial claim only to have their balances refunded during subsequent rounds of refunds. Players with account balances were contacted via the email on file in their account and can use that information to begin the application process. Players who did not receive the email can begin the process by using their Player ID, last name and the email address on file. Players who agree with the account balance that GCG has on file are not required to submit any further documentation to receive payment. Players who wish to dispute the amount will need to provide supporting documentation such as financial statements for review. Players will not receive any compensation for tournament dollars, step tickets, loyalty points or event dollars on their account. The DOJ went on to compare the business practices of Absolute Poker to those of Full Tilt Poker. "Additionally, the Department of Justice has concluded that players of Absolute Poker who were unable to recover their funds from Absolute Poker are similarly situated to the eligible victims of Full Tilt Poker, in that Absolute Poker, like Full Tilt Poker, did not maintain funds sufficient to repay all of its players," the release stated. The news comes six weeks after AbsolutePoker founder Scott Tom returned to the United States to face Black Friday charges. PocketFives will continue to provide updates on the claims process as more information becomes available.
  2. [caption id="" align="alignnone" width="640"] Leon Tsoukernik found himself the center of the attention in the high stakes cash game world for all the wrong reasons.[/caption] As the final days of 2017 slowly tick by, it's time to take a look back at the year in poker. Over the last 10 days of the year, PocketFives is taking readers on a trip back in time to recap the last 12 months in a fun and unique way. We'll get things started by looking back at the five biggest off the felt news stories of 2017. #5 - Australian Government Bans Online Poker American poker players know all too well how it feels to have the government step in and take away online poker. In March, the Interactive Gambling Amendment 2016 passed through the Australia Senate and effectively banned online poker Down Under. Over the course of the next six months, PokerStars, 888poker, and partypoker all exited the Australian market, leaving grinders there to play on black market offshore sites, much like most of their American counterparts. There does appear to be some appetite from politicians to regulate online poker or at least carve the game out, but there's no real timeline for either of those options. #4 - The End of the November Nine & Launch of PokerGO A major shift in how poker fans watch the WSOP was announced just a couple of weeks before the 2017 WSOP started. In partnership with ESPN, Poker Central announced they had acquired the global television and digital media rights for the WSOP and would be launching their own subscription-based streaming service, PokerGO. The WSOP Main Event would be broadcast live on a combination of ESPN, ESPN2, and PokerGO, and the final table played out in July, ending the November Nine concept after a ten-year run. While the decision to take the Main Event back to its roots was met with praise from poker fans, one of the major complaints those same fans had was that not all final tables were live streamed, as had been the case in years past when WSOP.com aired them. PokerGO later added the Poker Masters series and brought back Poker After Dark as part of their original programming and signed on the World Poker Tour as part of their streaming coverage. #3 - UB & AbsolutePoker Money Returned to Players Most players who had money on UB.com or AbsolutePoker.com on Black Friday had long given up any hope of getting that money back. So to say the news that the Garden City Group had begun the remissions process for those players was met with delight back in April would be a massive understatement. With little to no fanfare, GCG announced that players could begin filling out the necessary paperwork to potentially get their money back. The process was nearly identical to the one used by GCG to pay Full Tilt Poker players back following the U.S. Department of Justice settlement with PokerStars. Most believe the UB/AP refunds process was only possible because of funds leftover from that settlement after all Full Tilt refunds were processed. #2 - High Stakes Drama: Leon Tsoukernik vs. Matt Kirk It’s rare that poker fans get any sort of reliable information out of the world of nosebleed cash games. So when Matt Kirk sued Kings Casino owner Leon Tsoukernik after he failed to pay back a $3,000,000 loan Kirk gave him, everybody seemed to salivate over the details contained in the court documents. According to Kirk’s suit, the pair were part of a high stakes game at the Aria Hotel & Casino on May 27 when the other players quit the game. Kirk and Tsoukernik both wanted to keep playing allegedly but Tsoukernik had lost his stake earlier and asked Kirk if he could borrow money to continue playing. Over the next hour or so, Kirk loaned Tsoukernik $3,000,000 and quickly beat him for all of it. According to the court documents, just 15 minutes after the two finished playing, Tsoukernik texted Kirk that he had no intention of paying the debt. In October, the Clark County judge overseeing the case agreed with Tsoukernik that under Nevada law a gaming debt between two individuals is unenforceable and threw out eight of Kirk’s 10 counts. However, Kirk is still suing Tsoukernik for “fraudulent inducement and unjust enrichment.” #1 - Pennsylvania Legalizes Online Poker In late October online poker players in Pennsylvania were willingly watching the live stream coverage of the Pennsylvania House of Representatives as HB 271 came up for vote. The bill, which regulated online poker, casino games and daily fantasy sports in the Keystone State passed by a 109-72 vote. Governor Tom Wolf signed the bill into law just four days later. While there is still no timeline for when players will be able to play legal online poker in Pennsylvania, some observers believe mid-summer to be a best guess. Those same observers point to 888poker, partypoker and PokerStars as likely candidates to be operating within the state. PokerStars applauded the legislation. "We applaud the Pennsylvania Legislature for taking decisive action to legalize online gaming," said Eric Hollreiser, VP of Corporate Communications for PokerStars. "This is common sense legislation that will protect consumers, help close Pennsylvania’s budget gap, and make the state more competitive within the regional gaming industry. The Stars Group looks forward to working with Pennsylvania and its gaming regulators and competing in the future marketplace."
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