Breaking News: DOJ and Full Tilt Poker Player Refunds
The United States Attorney’s Office for the Southern District of New York has announced that is currently evaluating applicants who will be in charge of handling all the remitted payments to players from Full Tilt Poker.
Once a claim administrator is put into place they will begin to work on the case in January 2013.
This is good news for players looking for refunds as it has been confirmed that a person will be rightfully employed to execute and manage the entire player refunds owed accordingly.
It was over the summer on July 31st when United States Attorney office for the Southern District of New York reached a Court-approved settlement with Full Tilt Poker and more importantly Poker Stars who now owns the company.
The funds generated from the settlement were used to fund a petition and remission process for U.S. victims who got caught in the alleged fraudulent, “Ponzi Scheme.”
This all started back in April of 2011 when the Full Tilt domain was seized by the DOJ and was authorized to pay back the players funds but it turned out that indeed Full Tilt did not have the money on hand to pay back the players.
After a lengthy investigation it turned out all the money was going to principles of the company and that Tilt allowed players to continue to gamble, and “win” and “lose,” with phantom credits in their player accounts.
Stay tuned for more coming on Full Tilt player refunds.