Former Absolute Poker and UltimateBet Players Line Up for $33 Million Settlement
A group of former Absolute Poker and UltimateBet players are set to divide more than $33 million in a settlement of accounts that were frozen on Black Friday. The surprise settlement will be administered by the Garden City Group and is a serendipitous result of another massive Black Friday settlement.
The Absolute Poker UltimateBet settlement fund is being administered by the Garden City Group (GCG), which is the same group that helped divvy up the US Department of Justice’s (DOJ) settlement fund with Full Tilt Poker. In fact, the funds being used to settle the 7,400 claims against Absolute Poker and UltimateBet.
This latest round of remittance comes in the wake of the DOJ’s final remittances of Full Tilt Poker claims back in April. Shortly after that, the government announced that former Abolute Poker and UltimateBet players could file for similar remittances, which would be paid from leftover cash from the Full Tilt fund.
Late last week, players who filed for those claims began receiving emails from the Feds asking them to confirm or update their banking information, a clear indication that settlements are not far behind, according to a report on LegalUSPokerSites.com.
Former Abslute Poker and UltimateBet players who haven’t already filed claims for their long lost cash have until September 7 to do so. Players who are eligible for a payout, but also have delinquent debts to the government (such as tax bills) will have to pay off their debts before claiming any actual cash.
As of this writing, the DOJ’s move to settle up Absolute Poker and UltimateBet claims has been well received in the online poker community.
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