Mentor
Rock Star
Silver Level
I summed this up in post #96. S
put the number at $159 million.The AGCC did not corroborate that number; they simply conceded that the $331 million number was inaccurate.
I summed this up in post #96. S
put the number at $159 million.The AGCC did not corroborate that number; they simply conceded that the $331 million number was inaccurate.
dmorris68
Legend
Loyaler
The key word is 'seized" DJ. I think it's clear that nowhere near $331m was seized by the DOJ. As the Subject
oker article states in this quote:Right off the bat you can discount more than 1/3 of the $331m just from the shortfall numbers. Pretty disingenuous for them to claim all of these were losses due to "seizures."
alaskabill
Legend
Silver Level
Here is the statement. I have bolded the relevant part.
1.*Correction.
AGCC*wishes*to*correct*and*clarify*an*erroneous*statement*contained*in*the*Commission*tribunal’s*
published*determination*notice*of*the*hearing*into*Full*Tilt,*which*includes*the*statement:‐*“the*
individual*seizures*made*by*the*Department*of*Justice*during*the*period*28th*June*2007*to*20th*June*
2011,*which*amount*to*a*cumulative*total*of*approximately*$331*million*US*Dollars.”*The*underlying*
evidence*in*the*hearing*clearly*demonstrated*that*$331*million*was*the*total*of*funds*unavailable*to
Full*Tilt,*of*which*DOJ*seizures*formed*only*a*part.*The*mis‐statement*is*thus*not*of significance*in*
the*Commission’s*assessment*of*the*matter.
The DOJ did not seize over 300 million. The 330 million was FTP's total shortfall which included crediting deposits that they could not collect and siphoning off the majority of funds in the form of dividends.
I don't mean to be rude at all. I certainly respect and share your frustration at the situation but how can you not see that DOJ seizurew were not nearly what FTP claimed?
Also here is the latest from Subject poker on the same issue.
http://www.subjectpoker.com/2011/10/agcc-331m-wrong-159m/
Edit: I'm a slow pony. Dmorris beat me to it.
Last edited:
OzExorcist
Broomcorn's uncle
Bronze Level
Bunch of people beat me to posting the latest S link and data
Plus seriously, did nobody see there being a problem with the entire amount of missing funds being accounted for by US seizures? I know the numbers lined up conveniently, but Full Tilt had substantial rest-of-world business, so even if every last cent of US player money was seized they should still have had something like half of their operating funds available. The only way to explain those other missing funds is some other form of mismanagement...
link and data Plus seriously, did nobody see there being a problem with the entire amount of missing funds being accounted for by US seizures? I know the numbers lined up conveniently, but Full Tilt had substantial rest-of-world business, so even if every last cent of US player money was seized they should still have had something like half of their operating funds available. The only way to explain those other missing funds is some other form of mismanagement...
PurgatoryD
Visionary
Silver Level
I'd be happy to let them keep my money if they would just let me use it to play on their new site!
What? They're most likely not going to let me play on their new site? And they're going to keep my money anyhow? Dang it!
What? They're most likely not going to let me play on their new site? And they're going to keep my money anyhow? Dang it!
absoluthamm
<==Poker Face
Silver Level
Let me guess, like $5 you had on there? I would never play on Tilt again if I didn't get my money back, I don't give a shit how the software is.
You post doesn't make any sense.
PurgatoryD
Visionary
Silver Level
I had about $75 in freeroll winnings. It took a long time to build that up from nothing.
But seriously, if the site were to come back to life, I'd rather leave the money there and play rather than cash out and try to figure out some way to get funds deposited. This online prohibition stuff here in the US is really, really lame.
For those who have serious money on there, I completely understand their desire to cash out. And I do hope they are successful.
C
cheaptrix
Rock Star
Silver Level
sry, forgot to add imo as i did in the post before that one.
okeedokalee
Glory To Ukraine
Loyaler
This is on http://forumserver.twoplustwo.com/2...mployees-answer-questions-1116371/index3.html from a former employee
Quote:
Originally Posted by beepokerking
What do you think the chances are of the Tapie deal going through?
If this deal falls through do you think it is certain bankruptancy for FTP?
"IMO, the deal will not go through. If it doesn't I can't see the company lasting past January."
The " former employee" answers other questions as well, it is enlightening if genuine.
Quote:
Originally Posted by beepokerking
What do you think the chances are of the Tapie deal going through?
If this deal falls through do you think it is certain bankruptancy for FTP?
"IMO, the deal will not go through. If it doesn't I can't see the company lasting past January."
The " former employee" answers other questions as well, it is enlightening if genuine.
D
DennisC98
Rock Star
Silver Level
Full Tilt Fires 180 Employees...
A full tilt poker subsidiary with offices in Dublin, ireland, laid off 180 employees last week, pounding yet another nail in the coffin of the shuttered poker site.
A full tilt poker subsidiary with offices in Dublin, ireland, laid off 180 employees last week, pounding yet another nail in the coffin of the shuttered poker site.
dj11
Legend
Silver Level
I got the impression somewhere that the programming is done in California. By a firm not called FT.
F4STFORW4RD
Visionary
Silver Level
alaskabill
Legend
Silver Level
According to the ex employee (confirmed by Noah from subject poker) they literally were doing nothing. The reason they were kept on I guess is that if they had gotten the green light to reopen from AGCC they could not have reopened without the staff so it would have further delayed a reopen.
Literally, they went to work every day and read 2+2 for updates and did personal stuff like take online courses. Good work if you can get it and according to him they were well payed.
Literally, they went to work every day and read 2+2 for updates and did personal stuff like take online courses. Good work if you can get it and according to him they were well payed.
Samango
Legend
Silver Level
lmao
OzExorcist
Broomcorn's uncle
Bronze Level
Pretty much everything was in Dublin - management, security, programming, customer service, marketing, admin, etc.
FWIW, a consistent story from the employees that were made redundant is that their redundancy payouts came from the Irish government (not what tiny amount remains of player funds) and that they've been told they could be re-hired if the company gets back on its feet.
beardyian
Scary Clown
Silver Level
tenbob
Legend
Silver Level
The goverment pays 2/3rds of the redundancy, if there is no other company funds available. There is obv funds available from somewhere, because these people have been getting paid for months.
alaskabill
Legend
Silver Level
FWIW the ex employee has been shut down. He requested the thread to be deleted after he was threatened with legal action by FTP. The funny thing is that he was by and large positive about the company. Until Black Friday he loved his job. He spoke well of his colleagues and, given the circumstances, was not as harsh about Lederer and the gang as he could have been.
However, apparently PK employees sign a NDA and he was obviously violating it.
Oh well, it was interesting while it lasted.
However, apparently PK employees sign a NDA and he was obviously violating it.
Oh well, it was interesting while it lasted.
OzExorcist
Broomcorn's uncle
Bronze Level
Ah - I thought it looked like it had gone missing... there really wasn't anything earth-shattering in it but there were a few interesting tidbits and like you said, it was by and large positive, which I found a little surprising.
