$4 Million More to U.S. Full Tilt Players by Summer
The Full Tilt remission process finds another 2,000 players in line for reimbursement of around $4 million that should arrive by the end of August.
That information came from a post on online poker forum 2 + 2 from Poker Players Alliance Executive Director John A. Pappas. The PPA honcho indicated that this latest batch of payments may arrive sooner, but that a conservative time frame places the next distribution at roughly four months.
The announcement has not yet been made official on the Full Tilt Poker Claims website, as rubber-stamped approval must still be effectuated by the powers that be at the Department of Justice, the Department of the Treasury, and the Southern District of New York. The claims administrator, Garden City Group (GCG), has finished their part of the process for this next wave of payments and awaits the OK from the other departments.
The ex-U.S. Full Tilt players included in the summer disbursement of funds are: some claimants who disputed their account balances “based on an incomplete withdrawal” that was finally properly matched with Full Tilt records; claimants who filed without using necessary login credentials that were determined to be valid Full Tilt accounts; petitioners who updated their information as requested by the GCG; and a “small number of pro players.”
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The last reimbursement came on March 31 and put another $2.5 million in the pockets of more than 3,100 players. To date, just under $100 million in funds has found its way to the rightful owners since the first batch of payments was distributed by the GCG on February 28, 2014.
Following that reimbursement wave, the GCG indicated on their website that 80% of the Full Tilt remission process was complete. The remaining 20% of petitioners have been waiting for their funds for more than four years.
Pappas further revealed that he expects to talk again later in the week to representatives from the Asset Forfeiture & Money Laundering Section of the DoJ and will provide any new details that may be learned.[isGeoAllowed]
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