Full Tilt Remission to Pay $5.7 Million More4 years ago
Former Full Tilt players in the U.S. who have yet to be reimbursed in the remission process can expect a new batch of payments totaling nearly $6 million within the next few weeks.
About 2,000 petitioners are scheduled to be included in the latest reimbursement wave, which will be the 7th payout administered by claims administrator Garden City Group (GCG). Details regarding the new stream of cash flow headed to ex-Full Tilt players were provided by Poker Players Alliance executive director John Pappas at the PPA Facebook page.
Pappas is in contact with representatives from the Asset Forfeiture and Money Laundering Section of the DoJ, who informed him that payment of about $5.7 million has been approved. A few weeks are needed for the DoJ to transfer the funds to the GCG, who will first send the receiving players a zero-dollar transaction in order to test the validity of the bank accounts provided by the petitioners before clicking off on the actual fund transfer.
Claimants in line to receive payments are those whose fund totals had been in dispute, as well as petitioners who were previously lacking proper information needed to process the claim. Following completion of the newest reimbursement wave expected to be paid sometime this month, well over 40,000 U.S. players will have been made whole.
That leaves just 3,800 claimants still in the lurch, without word on when they too may see their FTP account balances settled. Those remaining players have been labeled as a mix of new petitioners whose log on credentials were invalid previously, professional players, and others not fully identified.
Pappas' announcement of this newest batch of payouts came in advance of an official notice posted on the GCG website at FullTiltPokerClaims.com. We can likely expect to see similar information at that site shortly.
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