GCG Expects To Make Another 1,000 Payments By End of MayPublished on April 19th, 2014 12:23 am EST
The company that is serving as the Administrator of Full Tilt Poker's forfeited funds, the Garden City Group, Inc. ("GCG"), released another statement earlier this week.
There were a number of important points in GCG's statement, including:
1) GCG clarified that the people who received their payments at the beginning of April were part of the "first payment wave"
2) GCG stated that they are expecting to make another distribution by the end of May to "approximately 1,000 Petitioners". These Petitions "were previously reviewed by the Government, but not yet approved for remission due to obviously incorrect or incomplete information." The people who fall into this category will be forwarded to the government for approval over the coming weeks and should receive their money by the end of May.
3) GCG said that they are preparing to submit the next round of Petitions to the DoJ for review and approval. This round of Petitions will include a broad group of people, including:
a) late confirming Petitions
b) Petitioners who submitted duplicate petitions and subsequently withdrew their duplicate petition
c) Petitioners who withdrew a dispute regarding their balance
d) Affiliates who confirmed their balance
e) Petitioners who confirmed their balance but just recently updated their bank account information
According to the GCG, this group of Petitioners should receive their money by the end of July.
4) GCG and the DoJ are continuing to evaluate new and disputed Petitions
5) There has still been no decision made regarding the eligibility of former Full Tilt Poker pros
According to the GCG, approximately 29,700 Petitioners have received their balances back so far, with roughly $81 million having been paid out.
Source: Full Tilt Poker Claims
Filed Under: Poker Scandals