Poker King Logo
Wednesday, July 30, 2014
Poker King Blog Website Linkpoker bonus king


FRONT PAGE
POKER TWEETS
ONLINE PLAYERS
PLAYER PROFILES
SHOWDOWN
DICTIONARY
"durrrr" CHALLENGE
ARTICLE ARCHIVE
ANSWERS
POKER BONUS CODES
POKER FOR THE MAC
KING PROMOS
BEGINNERS
INTERNATIONAL
PRIVACY
RSS FEED











November 21st, 2012 2:55 pm EST

Claims Administrator Expected To Be Selected By January of 2013



Justice - Illustration

Full Tilt Poker's US players have been waiting for some kind of news regarding their player balances for months now.

As part of their settlement deal with the US government, Pokerstars agreed to forfeit $547 million over three payments. The first payment, totaling $225 million, was made in August. The majority of this money is earmarked for the repayment of Full Tilt Poker's US players.

On July 31st, the DoJ posted this statement regarding the repayment of Full Tilt's US players:

"Funds generated from these settlements will be used to fund a petition and remission process for U.S. victims of the alleged fraud that Full Tilt Poker committed relating to player funds. The U.S. Attorney's Office will post details within the upcoming weeks regarding how U.S. victims can submit such a petition."

Over the next few months, there was basically no new news, aside from the announcement that the DoJ was soliciting bids for the position of Claims Administrator.

Earlier this week, the DoJ provided a "Victim Update" for Full Tilt Poker's US players. It read:

"The United States Attorney's Office for the Southern District of New York is evaluating applicants for the position of Claims Administrator to handle petitions for remission for U.S. victims of the alleged fraud that Full Tilt Poker committed relating to player funds. The United States Attorney's Office expects that the Claims Administrator will be selected and begin work in January 2013."

--

So does this mean that funds will start going out in January?

The PPA (Poker Players Alliance) met with officials from the US Department of Justice, Asset Forfeiture and Money Laundering Section, earlier in the month.

From the update that the PPA released following the meeting:

"..But it was evident that even when a claims administrator is hired, forfeiture and remission procedures require that a substantial administrative process be adhered to before players begin seeing their funds."

--

In short - things are moving slowly, but they are moving.

Source: Justice.gov - United States v. Pokerstars et al., 11 Civ. 2564 (LBS) (Full Tilt Poker Information)


Filed Under: Online Poker Rooms




Most Recent Articles

Amaya stock chart - Illustration - Rising
Posted on: July 29th, 2014 7:55 pm EST
Shares of Amaya Gaming Group Up 14% Following Regulatory Approval
Night Shot of Las Vegas Boulevard
Posted on: July 27th, 2014 7:00 pm EST
Nevada Posts $1 Million+ in Online Poker Revenues in June
The Poker Hall of Fame - Logo - Larger Size
Posted on: July 25th, 2014 6:43 am EST
Public Nomination Process for 2014 Poker Hall of Fame Class Now Underway
The King is reporting the latest numbers from New Jersey
Posted on: July 22nd, 2014 12:23 am EST
Borgata Edges Out Caesars Interactive Entertainment In Slow June For Online Poker in New Jersey
WCOOP - World Championship of Online Poker - Challenge Series - Pokerstars - Logo
Posted on: July 18th, 2014 10:41 pm EST
WCOOP Challenge Series Coming To Pokerstars in Early August








2629

TOP POKER ROOM REVIEWS & BONUSES

Bet365€1000
William Hill$2000
Pokerstars$600
Party Poker$500
Titan Poker$2000





poker bonus codes



POKER KING PROMOTIONS

Skybet Promo Code

William Hill Promotional Code

Bet365 Bonus Code





ANSWERS

How Rich is Tony G?

What Are The Terms of the Phil Ivey/Daniel Negreanu World Series of Poker Bracelet Bet?

When Did Pokerstars Buy Full Tilt Poker?

When is Rounders 2 Coming Out?

Which Poker Player Has The Biggest Twitter Following?

What is Daniel Negreanu's Net Worth?

What is Viktor Blom's Net Worth?

What Was the Largest Prize Pool In the History of Poker?

What Happened to Jamie Gold?

Who Is The All-Time Tournament Money Winner in Poker?




POKER DICTIONARY

One-Gap

Edge Sorting

Crap Shoot

Cowboys

NJCOP

Broadway

Even Money

Toke

Action

High Roller




INTERNATIONAL CONTENT

Bet365 Bónusz Kód

Bonus Vervekode Fra Bet365

Bet365 獎金 推薦號碼

Bet365 Bonus Kod Polecający

Código de Bono William Hill

Codice Promozionale William Hill

Codice Bonus Bet365

Código de Bónus Bet365

Bonuscode PartyPoker




ARTICLE ARCHIVE

Cash Games (255)

Tournament Results (378)

Poker Scandals (65)

Online Poker Rooms (431)

UIGEA (70)

Players In The News (68)

Poker on Television (61)

The World Series of Poker (331)

Poker Legal Issues (115)

Other Poker News (156)

Miscellaneous King Articles (87)







Poker-King.com - Copyright 2003-2014, All Rights Reserved