DOJ Statement on Recovering Funds From Full-Tilt Poker
If you are owed money by Full-Tilt Poker, which the Government says is a Ponzi scheme, don't look for recovery any time soon. Today, the Alderney Gambling Control Commission on the British Channel Islands revoked its license, jeopardizing any payback plan. And, the Department of Justice issued this statement today:
United States v. Pokerstars et al., 11 Civ. 2564 (LBS) (Full Tilt Poker information)
...By way of background, in April of 2011, this Office entered into a domain-name use agreement with Full Tilt Poker. That agreement, among other things, expressly authorized Full Tilt Poker to return player funds to players. However, as the September 22 amended complaint alleges, Full Tilt Poker did not in fact have player funds on hand to return to players. Instead, the amended complaint alleges that Full Tilt Poker had, among other things, (a) transferred significant amounts of players’ real money deposits to principals of the company, while (b) allowing many players to continue to gamble, and “win” and “lose,” with phantom credits in their player accounts.
|< RightHaven Loses Copyright Troll Suit in Colorado | Punishing Banks For Debit Card Fees >|