News

Objective news from the poker world.

AGCC Falsely Reported $331M, Real Number $159M

October 20, 2011 - 10:22 AM EDT
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Alderney Coat of Arms

The Alderney Gambling Control Commission's report that the US Department of Justice had seized $331 million from Full Tilt Poker over almost four years is false. Subject: Poker believes that the real number is about $159 million. Approximately $35-$45 million was seized from FTP on April 15th. Following ten days of hearings and deliberation, on September 29, the Alderney Gaming Control Commission revoked three of the four licenses belonging to Full Tilt Poker. In a detailed determination notice attached to the revocation announcement, the AGCC made this incorrect statement: The individual seizures made by the Department of Justice during the period 28th June 2007 to 20th June 2011… amount to a cumulative total of...

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Merge to Accept New US Players Tomorrow

October 12, 2011 - 5:38 PM EDT
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Merge to Accept New US Players Tomorrow

The Merge Gaming Network has quietly announced plans to start taking new US player sign-ups tomorrow at 12:01 AM EDT. Some Merge skins have contacted affiliates with the news, and some have responded to players' inquiries to confirm. Merge, currently the second largest poker network that serves US players according to PokerScout.com, stopped accepting new US sign-ups over four months ago. Multiple sources close to the situation said at the time that the measure was a...

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Full Tilt Buyer Seeks to Preserve Assets

October 6, 2011 - 2:15 PM EDT
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Full Tilt Buyer Seeks to Preserve Assets

Sources close to Full Tilt tell Subject: Poker that the acquisition agreement between Groupe Bernard Tapie (GBT) and Full Tilt contains a clause requiring that an outside independent entity be appointed to protect the current and future assets of the poker site pending its final sale. GBT intends to appoint a chief restructuring officer (CRO) who will, in effect, replace the current board of directors of Full Tilt Poker. Among the responsibilities of this newly...

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Campos and Elie File Motions to Dismiss, Question UIGEA

October 3, 2011 - 2:06 PM EDT
By
Scales of justice

Chad Elie and John Campos, two of the individuals charged in the criminal case on Black Friday, have taken the offensive in a fight to dismiss all charges. Chad Elie Chad Elie, a former payment processor for PokerStars, Full Tilt Poker, and Absolute Poker, is charged with all nine counts listed in the criminal indictment: ...

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DOJ Extends Filing Deadline in Civil Case

October 3, 2011 - 1:53 PM EDT
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DOJ Extends Filing Deadline in Civil Case

According to court records, the deadline for filing claims or answers with respect to the Black Friday civil forfeiture action has now been extended from September 30th to October 31st. Documents show that such extensions have so far been stipulated for the various companies associated with Full Tilt Poker, PokerStars, and Absolute Poker/Ultimate Bet respectively. Each of these poker sites had already been granted extensions from the original July 15th deadline to September 30th. However, the filing of...

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Bitar Files Claim Against Seizures

September 30, 2011 - 12:37 PM EDT
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Bitar Files Claim Against Seizures

While the poker world was discussing the AGCC's decision to revoke Full Tilt Pokers licenses, Ray Bitar was filing his claim against some seized assets that occurred on Black Friday. Bitar, citing his legal and equitable ownership interests in some of the in rem defendants, made his claim, as required by Rule G of the Supplemental Rules for Admiralty or Maritime and Asset Forfeiture Claims. He has also claimed ownership of the domain names.[1. The FullTiltPoker.com domain...

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DOJ Releases Statement about FTP (Updated)

September 29, 2011 - 1:43 PM EDT
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DOJ Releases Statement about FTP (Updated)

Updated 10/2 at 9:09 AM EDT. The United States Attorney's Office for the Southern District of New York has released a statement clarifying its position with regard to Full Tilt Poker and players who are owed money by the site. Though the statement makes no commitments, it is remarkable in that it discusses the possibility of the DOJ compensating players directly: ...

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AGCC Revokes FTP’s Licenses

September 29, 2011 - 1:18 PM EDT
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AGCC Revokes FTP’s Licenses

After a three-month-long suspension, the Alderney Gambling Control Commission has revoked the licenses of three of Full Tilt Poker's four Alderney licensed companies. In a detailed notice, the AGCC provided its rationale for taking...

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DOJ Moves to Seize FTP Board Members’ Funds

September 23, 2011 - 12:14 PM EDT
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DOJ Moves to Seize FTP Board Members’ Funds

On September 19, Subject: Poker reported that the US Attorneys office for the Southern District of New York amended the civil complaint originally unsealed on Black Friday to include allegations against three additional board members of Full Tilt Poker, Howard Lederer, Chris Ferguson, and Rafe Furst. Now, Subject: Poker has learned that warrants have been issued to seize the assets of these three men. The newly named civil defendants, Howard Lederer, Chris Ferguson, and Rafe Furst,...

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French Investors Consider Purchasing FTP

September 21, 2011 - 9:34 PM EDT
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French Investors Consider Purchasing FTP

Subject: Poker has learned that there is indeed a French investment group that is seriously considering purchasing Full Tilt Poker. In an exclusive interview with Jeff Ifrah, a lawyer associated with Full Tilt, Ifrah told Subject: Poker that French investors have, in fact, been working on a potential deal with FTP for weeks. Their first visit to Dublin was on August 24, eight days after the exclusivity period with a previous interested party had expired. Here is what...

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