'Black Friday' and associated fallout megathread

It is depressing.I blame RB pros if they would have send me a e-mail saying
"Dear Mr.Joebob **** you and your RB"
My roll would have been on Stars and would have had it back long ago.

just seeing the FTP Cashier is making me homesick


bring back ftp for the love of god

Time stamp? Hmm does that matter? Not sure how to do that. But mine is not a lie thanks to my 100 buyin rule lol ughhhhhhhhhhhh

Dear Chris Ferguson,

I refer you to the back of the ****ing line behind every other FT player in the world. And if they run out of money before they get to you, tough shit. Guess you're going to have to go back to playing poker for a living. Life is so unfair, huh?

Dear Chris Ferguson,

What he said.

Subject: Poker, who has provided many of the details regarding the GBT/FTP deal, reports that Ferguson is allegedly holding up any further movement over the deal because of money that he put towards the site following “Black Friday.” According to S:P, the former World Champion accepted just under $60 million from Full Tilt since 2007, which he put into different bank accounts under the Pocket Kings, Ltd., umbrella. Although he withdrew and spent about $45 million of that money, what Ferguson is looking for is allegedly the remainder, $14.3 million, after a rather ill-advised move.

According to the S:P report, Ferguson allowed that $14.3 million to go back into the Full Tilt accounts to take care of expenditures by the company post-Black Friday. While allowing this money to go back to FTP, Ferguson allegedly felt that this “good will” gesture would put him at the front of the line as a potential owner under the revamped Full Tilt Poker.

READ THE LAST SENTENCE GUYS!

Not sure what your point is here. Are you saying that because he put some of the money back that was taken from players that he somehow deserves a pat on the back? None of those "expenditures" went to player withdrawals as far as I know and any dividends paid to the owners, Ferguson included, were paid at least in part by player funds which they neglected to keep segregated.

I'm the dog , the big bad dog ! the bounty hunter !

jay playing.jpg (http://www.cardschat.com/attachment.php?attachmentid=41946&d=1327983930)

lmao!

Amazing

No go freaking arrest Chris Ferguson, or just shoot him in the eyeball or something.

http://www.pokernews.com/news/2012/0...ment-11919.htm

don't know if good or bad - probably good.

http://www.cardplayer.com/poker-news...oj-lawyer-says

even better news regarding ferguson

This may be a dumb question that may have been answered in the past 60 pages of comments but how is Full Tilt still dealing with DOJ? Wouldn't the DOJ for US only be able to tell them how to act inside of US and once they barred them out that's all they can do right? Unless the site is trying to use the sale to get back into the US then what does it matter what the DOJ says about it?

In a nutshell, they're cooperating with the DOJ in return for having a bunch of charges against the company dropped - without that agreement in place, nobody would want to buy the company.

This is the best explanation I could find.

http://biggovernment.com/mminton/201...ernet-freedom/

Basically says that .com sites were registered in US and therefore subject to US civil forfeiture laws.

Our day is coming. Mitt will make it right. After all, he plays cribbage which is a kind of holdem but without cards. Isn't it?

Don't be so sure. The Mormon Church has always opposed gambling in every form, including government-sponsored lotteries. Utah is one of the last two states with no legalized gambling.

Hmmm that's gonna suck, choosing between Romney and Obama. No good choice imo.

Another monkey wrench in the deal for FTP.

http://www.pokerstrategy.com/news/wo...al-Pros_56256/


"GBT doesn't want to acquire assets which will need to be litigated over later. In total, the sum owed to the company is between $10 and $20 million. Several of the players who owe money and have not yet expressed a willingness to pay their debts include Phil Ivey, Layne Flack, David Benyamine, and Erik Lindgren. Barry Greenstein, Mike Matusow, and others owe a smaller but still significant amount.

If the money doesn't come in, it creates a serious obstacle to completion of the deal. This isn't the only issue with the takeover, and the deal won't end on any one issue - but this is a substantial item."

Barry Greenstein? Isn't he a Stars pro? Why would he owe FTP money? Ivey is also a surprise considering all he's said on the matter.

Hard to say without Barry explaiining it himself but since he has known Howard, Phil etc for years maybe they loaned him some money from FTP funds to finance a staking deal or something. Regardless, if this is what ultimately sinks the deal I hope these guys pay a price for their greed. Pay your debts!

couldnt be more wrong....its a card game...and absolutely no bluffing

I think your sarcasm meter is broken.

Greenstein wasn't always a Stars pro, who knows how far back this might go or what was done behind the scenes. Agree though, it might raise some difficult questions with his Stars rep

Also, the fact that Ivey owes the site money has been a matter of public record for some time now - IIRC I think the story there is that he's happy to pay it back but he wanted to wait until new ownership and improved practices were established before he did, as paying it back to the old owners would have been like throwing money into a black hole...

The problem with Ivey's position at this point is Tapie is (or will be) the new owner. Apparently he doesn't want to pay him.

FWIW Barry G. responded on 2+2. I'm not going to link to it here but if you go to NVG you can read his response.

I respect the hell out of Barry and I love that he is responding publicly but I'm not sure I agree with his stance. Perhaps someone with a little more business/legal knowledge than I have could do a cliffs (not sure mine would be accurate) and tell us if this makes sense.

Hmmm... as a ROW player I can see a flaw in his argument: Full Tilt owes money to all of its player base, not just Americans.

I respect what he's trying to do (ie: ensure that the money he owes goes where it's needed most - into players' pockets) and I guess there's an argument that Tapie Group is guaranteeing full payouts for ROW players whereas it's still unknown whether American players will get full or partial payouts.

But I really don't think it's for him to decide whether his money is used to pay Americans or ROW players.

thanks got to quit reading all these crap stories about everyone and half or more of it is bullshit . they had me believing Ferguson was stealing when I knew he was better than that . although I still do not know exactly where he stands in all this , I can again remain neutral till it's over . f**k subject poker

So his lawyer issues a statement saying its all good and you just assume that it is correct? What did you expect his lawyer to say? Subject poker's record for accurate statements > anyone associated with Full Tilt.

This sounds like the bit in Goodfellas after Maury gets it lol. I can almost hear the outro in Layla now. An a picture of Chris Ferguson garoted in a pink Cadillac lmfao. Only joking Chris...

An Alaska Bills right on the money I reckon....

quotes from Pokernews:

Dayanim told Gaming Intelligence that Phil Ivey, David Benyamine, Erick Lindgren, Mike Matusow and Barry Greenstein are among the players who owe $10 million to $20 million to Full Tilt Poker. That amount was discovered while GBT was conducting due diligence to learn more about Full Tilt Poker's financial situation.
“The diligence has revealed that the financial position is worse than we had anticipated”, Dayanim told Gaming Intelligence. “We do not want to litigate a whole bunch of individual cases against professionals post-acquisition so we are trying to negotiate but we have not been making a lot of progress.
“This is not the only issue that is holding up the sale but it is a significant one. The company has greater liabilities — excluding player liabilities — than we had hoped. The forfeiture would extinguish any U.S. claims to the assets but they do not necessarily extinguish creditor claims in other countries.”
Despite the concerns raised by the investigation, sources inside the company still seem confident that they will be able to complete the deal with Full Tilt Poker and the Department of Justice by the end of this month.

It’s been hinted that some players would only be interested in repaying money if it went into a fund that would pay players back. Is that something GBT would consider as an option?
Some players have said things like that, some professionals have said things like that. I use the term professionals just because I don’t want people to be confused. We’re not talking about the mass of players who have balances on Full Tilt, we’re talking about professionals who owe the company money.
The reality is this. If we are unable to resolve some of these substantial obstacles that stand in the way of the completion of the deal, we won’t be able to complete the deal. If we don’t complete the deal, then the rest of the world players won’t be compensated nor made whole because we won’t be there to do it, and the government would have less money than it otherwise would to pay the U.S. players to the extent that it plans to do so. That’s the reality. We really need to resolve some of these issues in order to be able to purchase the company. This is a significant issue.


Read more: http://www.pokernews.com/news/2012/0...-owe-11939.htm




Read more: http://www.pokernews.com/news/2012/0...-owe-11939.htm

I can understand where he's coming from. I certainly don't blame him for not paying it back right now with everything still up in the air.

If he paid back the money earlier, it would have been gone. As you said, Tapie is saying ROW players will be paid if the deal goes through. We are going to have to go through the DOJ and there is no guarantee we will be fully repaid. Who knows what funds they have confiscated and will be willing to give back.

Sounds like Greenstein is just waiting for it to all get sorted out.

As has been the case all along with FTP, their abysmal mis-management and outright lies ****ed this up for everybody.

you're assuming everything you have read from subject poker is correct aren't you ? I'm pretty sure you have absolutely no proof of your own , correct ? as I stated " I can again remain neutral " till something is proved . I no longer want to point fingers or go with the mob mentality screaming " hang em " . I believe Ferguson , Lederer and many of the other pros are men of moral character and not thief's . I may very well be proved wrong but till then ........
I just wish they would quit crying about money when they are buying a license to print new money .

Yes, everything Subject Poker has said is true. Noah has no reason to fabricate stories. Stop burying your head in the sand because your idol is a selfish *insert expletive here*.

ok I take back the " f**k subject poker comment seems to be good people trying to get the real story out but I'm still not ready to hang him till it's all done and said . and yes it's a lil sandy here .