FTP Players to be Paid Based on BF Account Balances. Claims to Begin September 16th

[Debi]

http://fulltiltpokerclaims.com/faq.php

 

[kidkvno1]

17. Why do you require my Social Security Number or Taxpayer Identification Number?
Prior to the payment of funds to a Petitioner, GCG will provide the Petitioner’s Social Security or other Taxpayer Identification Number to the Government, in order to offset and collect any qualifying debts currently listed in the Treasury Offset Program.

 

[dmorris68]

^^^ That's typical for any government payments. If you have liens or wage garnishments setup by a government entity (IRS, DOJ, etc.) then all income is subject to that. It doesn't necessarily mean they're reporting your FTP balance as income to the IRS. Deposit amounts are not by themselves subject to be taxed -- only winnings are. I doubt they're going to do the math on each account to try and determine if the account balance is net winnings or not. Remember that the vast majority of online players/depositers are losing players. If you are one of the few whose balance represents a profit, then obviously you should claim it like you would any other poker income, and thus should have no issue with this.

 

[SavagePenguin]

I just got my email from Full Tilt claims.
It says to go to http://www.fulltiltpokerclaims.com/ to fill out a claim form, but the claim form isn't up on the website yet.

TO: United States Full Tilt Poker Players Who Were Victims of Full Tilt Poker’s Fraud

PLEASE READ THIS ENTIRE NOTICE CONCERNING SETTLEMENTS WITH FULL TILT POKER (“FTP”) AND POKERSTARS. IT IS TIME-SENSITIVE AND MAY AFFECT YOUR LEGAL RIGHTS. IF YOU SATISFY THE ELIGIBILITY CRITERIA DESCRIBED BELOW, YOU MAY BE ENTITLED TO PAYMENT. YOU CAN ALSO VISIT WWW.FULLTILTPOKERCLAIMS.COM FOR ADDITIONAL INFORMATION.

I. Purpose of this Notice

The purpose of this Notice is to inform you that you may be entitled to receive a distribution from the assets forfeited by Full Tilt Poker (the “FTP Fund”), which resulted from the settlement agreement resolving the allegations in the amended civil forfeiture complaint in United States v. PokerStars, et al., 11 Civ. 2564 (LBS), pending in the United States District Court for the Southern District of New York (the “Action”). You must complete the online Petition filing process in accordance with the steps in this Notice in order to be potentially eligible to share in the distribution from the FTP Fund. This Notice is being sent to all potentially eligible victims of FTP’s fraud who have been identified by The Garden City Group, Inc. (“GCG”), the Claims Administrator retained by the United States, utilizing data supplied by FTP. As explained in greater detail below, Petitions for Remission must be completed online through the administration website at www.FullTiltPokerClaims.com.

THE DEADLINE TO SUBMIT A PETITION FOR REMISSION IS NOVEMBER 16, 2013 (THE “BAR DATE”). IF YOU FAIL TO SUBMIT A TIMELY AND COMPLETE PETITION FOR REMISSION, YOU WILL BE BARRED FROM RECEIVING A PAYMENT FROM THE FTP FUND. WHEN FILING ONLINE, YOU MUST USE THE NUMBERS BELOW IN ORDER TO BEGIN THE PETITION PROCESS:

Petition Number:

Control Number:

II. Background

In July 2012, the United States entered into settlement agreements with FTP and PokerStars, two of the three online poker companies named as defendants in the Action brought by the United States alleging bank fraud, wire fraud, money laundering, and illegal gambling offenses. Under the terms of the settlement with FTP, the company agreed to forfeit virtually all of its assets to the United States in order to fully resolve the Action. The amended complaint filed in the Action alleged that FTP defrauded its players by misrepresenting to the public that player funds held by FTP were safe, secure and available for withdrawal at any time. In reality, the company did not maintain funds sufficient to repay all of its players and instead, utilized player funds to finance more than $400 million in dividend payments to FTP's owners.

Under the terms of the settlement with PokerStars (the "PokerStars Settlement"), the company agreed, among other things, to forfeit $547 million to the United States and to assume FTP's liability for the approximately $184 million owed by FTP to foreign players. The PokerStars Settlement also provides that PokerStars will acquire Full Tilt’s forfeited assets from the Government and precludes PokerStars from offering online poker for real money in the United States unless and until it becomes permissible to do so under relevant law.

Utilizing funds forfeited from PokerStars, the United States Attorney for the Southern District of New York and the Asset Forfeiture and Money Laundering Section (“AFMLS”) of the United States Department of Justice have established a Petition process by which eligible U.S. fraud victims can seek compensation for their losses.

III. Eligibility Criteria

To qualify for a payment from the FTP Fund, you must satisfy certain eligibility criteria described below. Those criteria include the following:

You must be a U.S. citizen or you must have resided in the United States at the time of playing on the FTP gaming site.


You did not receive compensation as a foreign FTP player in connection with the PokerStars Settlement.


You must have deposited funds into an account with FTP.


Your account with FTP must reflect a balance owed by FTP to you as of April 15, 2011.


You are excluded from participation in the remission process if you are:


A past or present employee of FTP or any of its past or present affiliates;


A past or present vendor of FTP that received compensation through FTP players’ accounts;


A past or present Team Full Tilt player;


A past or present shareholder of FTP, Tiltware LLC, Kolyma Corporation A.V.V., Pocket Kings Ltd., Pocket Kings Consulting Ltd., Filco Ltd., Vantage Ltd., Ranston Ltd., Mail Media Ltd., or Full Tilt Poker Ltd.;


A past or present officer or director of FTP, Tiltware LLC, Kolyma Corporation A.V.V., Pocket Kings Ltd., Pocket Kings Consulting Ltd., Filco Ltd., Vantage Ltd., Ranston Ltd., Mail Media Ltd., or Full Tilt Poker Ltd., or any of their past or present affiliates;


A defendant in any civil action or a claimant in any forfeiture action brought by the Department of Justice related to the violations alleged in this action, or any related action (or any of his or her affiliates, assigns, heirs, distributees, spouses, parents, children, or controlled entities); or


A person who, as of the Bar Date, has been the subject of criminal charges related to the violations alleged in this action, or any related action (or any of his or her affiliates, assigns, heirs, distributees, spouses, parents, children, or controlled entities).
Please be advised that receipt of this Notice does not indicate that you have been determined to be eligible to participate in the FTP Petition for Remission process; if AFMLS determines at any time, before or after you submit a Petition, that you are not eligible for remission, your Petition will be denied.

IV. The Distribution Formula

The amount that an Eligible Petitioner is entitled to receive will equal the final balance in the Petitioner’s account with FTP as of April 15, 2011 (the “FTP Account Balance”). You may view your FTP Account Balance through the online claim filing process at www.FullTiltPokerClaims.com. Once you log on using the Petition Number and Control Number set forth above, you will receive directions for accessing your account information and filing a petition and/or disputing the reported account balance.

If the funds available for distribution from the FTP Fund equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim shall receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the monies available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.

Prior to the payment of funds to a Petitioner, GCG will provide the Petitioner’s Social Security or other Taxpayer Identification Number to the Government, in order to offset and collect any qualifying debts currently listed in the Treasury Offset Program Database.

V. Online Filing Deadline

ALL PETITIONS FOR REMISSION MUST BE SUBMITTED ONLINE THROUGH THE CASE WEBSITE AT WWW.FULLTILTPOKERCLAIMS.COM BY NOVEMBER 16, 2013.

VI. Petition Determinations

GCG will email to each Petitioner AFMLS’s determination concerning his or her Petition. If a Petition is denied in whole or in part, GCG will state the reason for such denial and the Petitioner can appeal the ruling through the reconsideration process.

PLEASE BE SURE TO NOTIFY THE CLAIMS ADMINISTRATOR OF ANY CHANGES TO
YOUR EMAIL ADDRESS. YOU MAY CONTACT THE CLAIMS ADMINISTRATOR AT
INFO@FULLTILTPOKERCLAIMS.COM OR CALL TOLL-FREE AT (866) 250-2640.

PLEASE CHECK THE WEBSITE WWW.FULLTILTPOKERCLAIMS.COM FOR UPDATES.

 

[ezevan1022]

I believe from what I saw in 2+2 don't expect your money back instantly, I believe November 22 will be the soonest that you will see your money.

 

[cardriverx]

So, those who created a bankroll without depositing will not be able to withdrawl?

 

[ezevan1022]

So, those who created a bankroll without depositing will not be able to withdrawl?

I'm not 100% positive, but I believe this is the case. Again read from 2+2 so it may not be 100% accurate.

 

[dmorris68]

So, those who created a bankroll without depositing will not be able to withdrawl?

That's what it sounds like based on this eligibility criteria:

You must have deposited funds into an account with FTP.

Guess we'll have to wait and see if they're actually making that distinction or not. I could almost see their argument, being that you weren't a victim that invested and "lost" your own funds on the site, which was the basis for the criminal fraud charges that were brought against Bitar (i.e. that player's deposits weren't segregated as promised). So anything BR won from freerolls was in theory seeded with FTP money, not player money.

Of course we know now that a lot it probably *was* from player deposits used for operational expenses (like FR guarantees). Not to mention you could have built the rest of your bankroll off of other depositing players' losses instead of FR guarantees, but it would probably be near impossible/impractical for them to determine how much came from where. So this would seem to give them a convenient "out" to deny non-depositors. It sucks, but it doesn't surprise me.

I guess that's one more reason I can cite when I encourage players to just go ahead and deposit.

 

[Debi]

That will totally suck for us. I deposited but I don't think Joe did. Also I transferred $300 to my sister right before BF so I guess that is lost too since she never deposited. She didn't win a dime of it - it was my damn money lol.

 

[wagon596]

I won't get my $250-300 back,,, looking at my account it seems I never made a deposit there ,,,oops,,, but had withdrawn around $500 at one time or another. So I really can't complain...

To the rest of y'all, I hope you get all of your money and not have to wait forever. Take care

 

[absoluthamm]

I never deposited but spent a ton of time and effort building from nothing to over 1500 that I'm locked out of with never depositing... I hope to God I'm not about to get pissed

 

[Corey]

I thought I had $40, I have $61 and change in FTP! Did the thing where you get your web history. Will submit application real soon now!

 

[WVHillbilly]

I never deposited but spent a ton of time and effort building from nothing to over 1500 that I'm locked out of with never depositing... I hope to God I'm not about to get pissed

Have you (or any or the non-depositors) received the remission details email yet?

 

[bubbasbestbabe]

OMG! I have money there! About $250. Holy smokes! Have to laugh though The day before Black Friday I had $600. *sigh* No Limit PLO, I remember you well.

 

[vinnie]

Have you (or any or the non-depositors) received the remission details email yet?

I'm a non-depositor myself. I haven't gotten it yet. Their site says they'll still be sending out emails through tomorrow.

I'm going to be so upset if I lost all that money just because I never deposited.

 

[absoluthamm]

Have you (or any or the non-depositors) received the remission details email yet?

Same as vinnie, I've just been thinking that I'm still waiting for tomorrow.

 

[Dalsue214]

I'm a non-depositor myself. I haven't gotten it yet. Their site says they'll still be sending out emails through tomorrow.

I'm going to be so upset if I lost all that money just because I never deposited.

I was a depositor and already received mine. Why would they have that requirement? They know people have money that didn't deposit.

 

[kidkvno1]

Have you (or any or the non-depositors) received the remission details email yet?

One member did, tho i don't think i should say his name.
i just did.

 

[vinnie]

One member did, tho i don't think i should say his name.
i just did.

This is good news. So there's hope for me. I'm out just around $1,000 otherwise. It's not a huge amount, like some people, but I worked hard for that and don't want to lose it.

 

[Blue_Fossil]

No email for me today.

 

[dmorris68]

No email for me today.

Me neither but they did say it would take through tomorrow for all emails to go out.

 

[WVHillbilly]

Might want to check your SPAM folders. That is where I found mine.

FullTiltClaimsAdministration@tgcginc.com is the from address if you want to add it to your safe senders list.

 

[dmorris68]

Might want to check your SPAM folders. That is where I found mine.

FullTiltClaimsAdministration@tgcginc.com is the from address if you want to add it to your safe senders list.

Spam was the 2nd place I looked. Not there for me.

Not concerned though, I qualify by all those criteria. If for some reason I don't get the email tomorrow, I'll just file a manual claim. I got my FTP balance report already, so I know what my balance is.

 

[The PoolBoy]

Wendsday is claim day

Spam was the 2nd place I looked. Not there for me.

Not concerned though, I qualify by all those criteria. If for some reason I don't get the email tomorrow, I'll just file a manual claim. I got my FTP balance report already, so I know what my balance is.

My email notifaction came in the spam folder today but others will be sent out tomorrow. Even if you didn't get a email you can still access the Petition starting 9/18/13. and closing 11/22/13. I will put my request for return of my Full Tilt Balance this Wednesday. Any chance those bastards pay interest?

 

[arahel_jazz]

Odd... I've never deposited and I got an email last week. I may just give it a shot...