Groupe Bernard Tapie MD Laurent Tapie stated that the investment company has come to an agreement with Full Tilt Poker, which includes a clause that Full Tilt Poker players all over the globe should be refunded.
According to the US government, Full Tilt Poker owed at least $390 million to its players worldwide, but had only $60 million in its account, in spite of which it had paid around $444 million to some of its board members and CEOs, some of whom were internationally renowned professional poker players. Attorney Preet Bharara accused Full Tilt Poker of running a global Ponzi scheme, cheating players of millions of dollars, which the online poker company has vehemently denied.
Full Tilt Poker has stated in a recent press release that Groupe Bernard Tapie, an investment company belonging to Bernard Tapie, has agreed to purchase Full Tilt Poker with the purpose of reviving the brand on condition that the online poker room deal with the civil charges leveled against it at the earliest possible.
A day back, the Alderney Gambling Control Commission (AGCC) had revoked Full Tilt Poker’s licenses to provide online gaming services across the world on grounds that the online poker company had bad financial problems because of creating fake accounts, giving away unauthorized loans, and failing to reveal significant events. Full Tilt had complained that the AGCC’s move will damage its chances of being purchased.
According to US federal prosecutors, Full Tilt Poker stands accused of cheating banks by launching fake websites and showing gambling transactions as sales of items unrelated to poker gaming.
Tapie is believed to have ample experience handling companies in distress and reviving them. However, he was found guilty of attempting to fix a 1993 match involving Olympique Marseille, a team that belonged to him. He was also found to be guilty in the case of a luxury yacht he owns.
It is suspected that Tapie’s past might damage Full Tilt Poker’s chances of obtaining a fresh license to provide online gambling services. Regulatory bodies conduct background checks of those who apply for licenses although some jurisdictions are quite lenient.
Andre Wilsenach, the executive director of AGCC, said that it is quite possible for Full Tilt Poker to obtain a fresh license, adding that the revocation of the online poker room’s licenses does not really damage its chances of getting rejuvenated once again with a new management and owner.