Sixth Wave of Full Tilt Remissions Expected in August

Full Tilt Remissions, August 2015

$4 million will be issued to 2,000 more claimants by the end of August at the latest, says John Pappas of the PPA. (Image:poker-king.com)

The next wave of Full Tilt remissions can be expected before the end of August at the very latest, according to information received by John Pappas, executive director of the Poker Players Alliance.

Pappas had reached out to the Asset Forfeiture and Money Laundering Section of the Department of Justice, which is overseeing the case and authorizes claims administrator Garden City Group (GCG) to make payments.

Pappas took to the TwoPlusTwo forums this week to reveal that around 2,000 former customers of the “old” Full Tilt would receive around $4 million in funds in this, the sixth round of payments since the process began over a year ago.

Benefactors Include…

According to Pappas, the group of claimants to benefit from this round of payments includes:

1) Some petitioners who disputed their petition based on an incomplete withdrawal that we have subsequently been able to match to FTP data.

2) Petitioners who filed without login credentials that have been matched to FTP accounts and either claim the balance on record or fall within the de minimus thresholds previously identified by DOJ.

3) A very small number of pro players who provided appropriate documentation.

4) Possibly some additional petitioners who confirmed their balances and have subsequently provided updated information to GCG as requested.”

Following the fifth round of payments in March, GCG said that more than 80 percent of all claimants had received their funds, approximately 36,600 in total.

The forthcoming wave will take that figure up to about 85 percent, leaving roughly 7,000 petitions still to be paid.

Full Tilt Remissions Timeline

February 28, 2014

Two years and ten months after the DoJ shut down the former Full Tilt regime on Black Friday, the vast bulk of claimants, over 30,000 former Full Tilt customers, were approved to receive funds totaling $80 million. The day was dubbed “Green Friday.”

April 1, 2014

The second round of payments, totaling some $5 million to 2,200 claimants, constituted of those players who were approved in the first round of payments but had previously failed to update their banking details online, or had confirmed their balances late. Also in the mix were claimants who initially disputed the account balance on record but later withdrew these disputes.

June 12, 2014

On June 12, 2014, GCG issued more than 3,200 payments totaling approximately $14 million. These were to players who had not been included in the first two waves for reasons such as erroneous or missing banking information. Also included were players who were former affiliates of Full Tilt, but who had balances that derived from playing on the site and not from their affiliate activities.

September 25, 2014

Just under 600 payments totaling 1.8 million were issued in September to another wave of stragglers who had been late verifying their account balances or updating banking information.

March 31, 2015

In March 3,100 more claimants received payments amounting to $2.5 million. The vast majority of these, some 3100, were to players who had mistakenly provided incorrect information to GCG, such as inaccurate banking info or social security numbers.

The remaining 400 payments went to players who had disputed their balances on claims of $500 or less, and also to players with disputed claims between $500 and $2,000, where the disputed difference was no greater than 20 percent.

 

Philip Conneller
Written by
Philip Conneller
As part of the team that launched Bluff Magazine back in 2004, and then as Editor of Bluff Europe, Philip Conneller has (probably) written thousands of articles about poker and has travelled the globe interviewing the greatest players in the world, not to mention some of the sexiest celebrities known to man in some of the world’s sexiest destinations. The highlight of his career, however, was asking Phil Ivey (as a joke) how to play jacks, and emerging none-the-wiser. Philip once won $20,000 with 7-2 offsuit. He has been told off for unwittingly playing Elton John’s piano on two separate occasions, on different sides of the Atlantic Ocean. He became a writer because he is a lousy pianist. He lives in London where he spends his time agonizing about Arsenal football club, yet in Wenger he trusts.

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