Full Tilt Poker Claims Said To Pay $5.7 Million Back To Players "Within Weeks"
A new batch of the players who have been waiting for their money that was frozen on Full Tilt when the U.S. authorities decided to shut down the poker room in 2011 are going to receive a refund within "a few weeks," the Executive Director of the Poker Players Alliance, John Pappas, stated on PocketFives on Oct. 2.
Pappas explained that the next payment is supposed to distribute as much as $5.7 million among roughly 2,000 players at Full Tilt.
"I Just spoke my contact at the Department Of Justice Asset Forfeiture and Money Laundering Section (DOJ AFMLS) and learned that another batch is ready to be issued, but it could still be a few weeks till it hits player bank accounts," Pappas said. "This next wave includes roughly 2,000 petitioners totalling $5.7M in funds. These are petitioners with disputed funds, those with missing info, and those who they consider 'new petitioners.'"
Papas also explained that the remission has been already approved, and it now should take approximately "1-2 weeks" for the money to be transferred to the Garden City Group (GCC), the New York-based company appointed by the DOJ to handle the matter in 2013.
Once the funds reach the GCC, the company will proceed to transfer it to the players' accounts after a number of routine banking tests.
This, however, is not going to solve all the open issues, as Pappas went on to explain that his contact at the DOJ AFMLS told him that approximately 3,800 petitions are still unresolved. According to Pappas, the large majority of the ones left unsettled are are from new petitioners — even if he did not exclude that there could be number of professional poker players "who are mixed into that bunch."
To date, the GCC have not yet updated the information published at fulltiltpokerclaims.com, as the official website for the Full Tilt Poker Claims Administration, as authorized by the United States Attorney for the Southern District of New York does not include any reference to the $5.7 million payment mentioned by Pappas.