More Money Coming Back From Absolute Poker CaseFeds To Return Another $1 Million To Players |
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The Garden City Group announced that the federal government has approved a third round of payments to former customers of the defunct Absolute Poker and its sister site Ultimate Bet.
The poker sites, which shut down in the wake of online poker’s Black Friday in 2011, didn’t return money to their customers. Years later, the feds got involved to cash out poker players.
The latest round of remission is for $1.08 million that will go to about 450 petitioners, the third party claims administrator said on its website.
“Payments will be made via electronic ACH to petitioners residing in the United States and via foreign currency check to petitioners residing outside of the United States,” a news release said. “In cases where a foreign currency check cannot be issued, the payment will be made via USD check or foreign currency wire depending on the petitioners country of residence.”
GCG is currently sending email notices to the latest group of players scheduled to be cashed out. “Petitioners should continue to check this website for updates regarding the payment process and this administration,” GCG said.
The remission process began last August with around 7,400 players receiving a total of nearly $33.5 million. A second round of payments totally $3.7 million was released in the fall. Absolute Poker, founded in 2003, made some $500 million from Americans during its run. About $60 million worth of player money was lost when the site shut down.
The U.S. government obtained enough money through settlements stemming from Black Friday, which also ensnared PokerStars and Full Tilt Poker, to repay players owed money. About $118 million was returned to former FTP customers through a separate remission process.
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