DOJ: NO FTP Funds Released

May 31, 2011 - 7:00 PM EDT

The Public Information Office of the US Attorney’s Office has informed Subject: Poker that NO deal has been struck with Full Tilt Poker to release or unfreeze any funds.

eGaming Review Magazine reported Friday that an Irish bank account containing “more than a third of the US$100m to $150m still owed to US players” had been released to FTP. They cited an unnamed FTP source as having provided the information. The false story was widely reported on other gaming news sites, on social media, and on various poker forums. The rumor also lead to widespread speculation that Full Tilt’s Monday announcement would include a timeline for the return of US player funds. It did not.

The USAO representative made clear that funds had not been released and that any such action by the government would be accompanied by a public filing. She made mention of numerous false rumors that have spread through the poker community since Black Friday.

Subject: Poker cautions its readers to be skeptical of any news or rumors that they read, including the news found on this website. News with no cited source or from only one anonymous source should be read with a healthy amount of distrust. We will personally do our best to provide our readers with well-sourced information, and when we inevitably get something wrong, we will always publish a clear update admitting our mistake.

Update 6/2/2011 1:18 PM EST:
eGaming Review Magazine has published an update to their earlier article. They now say that the funds in question had been frozen and unfrozen by the Bank of Ireland and NOT the US Department of Justice as they’d previously reported.

This means that all funds frozen by the DOJ are still frozen. It may be that some accounts that were untouched by the DOJ were frozen by the banks themselves temporarily in the confusion after Black Friday.

Subject: Poker is unable to confirm or deny this story, but we will continue to look into it.

Edited on 6/2/2011 1:43 PM EST: Added some clarifying text to the 6/2 1:18 PM update.

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3 Responses to DOJ: NO FTP Funds Released

  1. Right On
    May 31, 2011 at 9:41 PM EDT

    Damn Straight. No funds should be released whatsoever to these guys. They have not made good on payments due to all USA players and nothing shows they are going to even if the DOJ released the funds. Let em die or live on what they have now. They made millions of $$ over the years and have more than enough to cover USA deposist if they have not over extended themselves like I believed that they have. I think they spent more than they made on ads and such on the belief the money would never end. I think funds were comingled and abused in terms of good business sense. As such, no other entity will invest in them for a paltry $150 Million or so for a great business raking millions a day. Wonder why not. Either pay up or fold like you should Full Tilt. This is coming from a player that is owed money from FTP. I’m just stating what I believe to be true IMO. GL all players.

  2. Danny Mccaul
    June 1, 2011 at 8:35 PM EDT

    So when can we expect to be reading your admission of making a mistake by attacking something we have every legal right to do in our own homes with our own money? And with said when will you realize when you do something like this , you appear to be the real criminals. Furthermore you will never have regained my trust DoJ, what you have accomplished with your actions, is such to make the American public a victim. That’s right you have victimized us, no matter how carefully you address this situation. Why don’t you go after the stock market THAT IS GAMBLING 100%, Why not actually do something good for the people instead of money grabbing like thugs? Your actions are an affront to my senses and appalling to even those that do not play poker. SHAME SHAME WE KNOW YOUR NAME!

  3. Lurker Joe
    June 3, 2011 at 10:50 AM EDT

    Keep up the good work, S:P — citing an actual source ftw!

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