GCG: Full Tilt Poker Cash Outs By Mar. 31, 2014Some Victims Could Have Money By Spring |
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The Full Tilt remission process could come to a close for some during the first quarter of next year, according to the firm in charge of compensating former American players.
The deadline for most victims to file a claim was this past Saturday, and on Friday Garden City Group released an important update on its site:
There will be a limited extension to the November 16, 2013 filing deadline for players who are Affiliates and for certain players identified as Pros in the data supplied by Full Tilt Poker (“FTP”)…For players identified as Pros, it has been determined that the only Pros who will be deemed ineligible to participate in this remission process are Team Full Tilt players and other players who were playing with funds from FTP or who were compensated by FTP to play on the FTP site. GCG is working with the Government to review the status of players who have been designated as ineligible Pros. Once this review is completed, for any such players who are deemed to be eligible to participate, GCG will email the players to provide instructions regarding the Petition process. Such players will have 30 days from notification to submit a Petition. Please continue to check this website for updated information.
We are in the process of reviewing Petitions filed by Petitioners who confirmed their balances online and who have not disputed their FTP Account Balance or submitted multiple Petitions. We expect payments to be made with respect to such Petitions with confirmed balances by March 31, 2014.
In other words, for some former players the saga could be over by next spring.
Full Tilt Poker was shut down in American cyberspace in April 2011, and was later accused of operating as a Ponzi scheme under prior ownership.
There were around 1.4 million potential victims of the fraud, who were stiffed out of around $160 million. The former owners have all settled their respective cases.
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