Last month, the Garden City Group, Inc. (GCG), the company tasked with redistributing seized Full Tilt Poker funds to U.S. players, sent email notices to "all potentially eligible petitioners GCG identified utilizing data supplied by Full Tilt Poker" to file a Petition for Remission, which they can do until Nov. 16, 2013.
The GCG has now updated their Frequently Asked Questions (“FAQ”) section to answer the question: Are Full Tilt Points, Iron Man Medals and other bonuses going to be refunded or included in my account balance?
Unfortunately for players, the answer is no.
"Full Tilt Points were a marketing tool and have no monetary value – they will not be refunded and are not reflected in account balances," the GCG website said. "Iron Man Medals and similar bonuses will also not be redeemed for their cash value and are not reflected in account balances."
The GCG was named as the Claims Administrator by the United States Attorney for the Southern District of New York back in March. The group is working with the Asset Forfeiture Unit of the United States Attorney's Office for the Southern District of New York and the Asset Forfeiture and Money Laundering Section of the United States Department of Justice throughout the repayment process.
For further information, visit the GCG FAQ page.
PokerNews will provide any updates as they become available.