Full Tilt Poker’s ex US players will soon get back their money, according to a Poker Players’ Alliance (PPA) report on Twitter.
The PPA tweeted on January 22, 2014: “BREAKING: DOJ says it completed its audit of GCG group player petitions. Approved release of 82m in funds to approx 30k players.”
Since the PPA has been closely associated with the remission process, its tweet ought to be accurate. The Garden City Group (GCG), a company recruited by the US federal government to handle Full Tilt Poker claims, will publish an update within a few hours.
John Pappas, the chief executive officer of PPA, told OnlinePokerReports.com: “This is great news for players with undisputed funds. Tens of millions of dollars will be returned to these players within weeks and it has been a long time coming. There are still many players whose FTP claims have not been resolved and we will continue to seek swift resolution on their behalf.”
Ever since the federal crackdown on PokerStars, Absolute Poker, and Full Tilt Poker on April 14, 2011, US players have been unable to access their poker funds.
But some of the 30,000 players who filed claims did so inaccurately and will have to make the necessary corrections to receive their funds. Pappas has posted on Two Plus Two Forums that such players will soon receive an email from GCG giving them detailed instructions on how to correct their claims.
When the remission process was set into motion, Full Tilt Poker’s ex US players received a balance from the GCG, which instructed them to either contest this balance or accept it. Players who accepted their balance will be paid first.
According to Pappas’ statement on Two Plus Two, players who did not contest their balances will soon get an email from GCG giving them instructions on how to get their payments. He said: “The DoJ could not provide me with a definitive date on when these emails will go out and when payments will be processed. But it looks like it will be in advance of their March 31 deadline.”
So far, no announcement has been made about the fate of players who contested their balances. One cannot say exactly what percentage of players will ultimately get paid. Although the DoJ has approved the repayment of $82 million, one cannot say if this number is equal to the amount FTP’s ex US players had in their accounts on Black Friday.