DoJ Wants $1 Billion from Full Tilt Poker
In the latest news regarding the Full Tilt Poker (FTP) saga; it appears that The United States Department of Justice (DoJ) is pursuing the company for $1 billion in damages for violations to US gambling laws by FTP. Despite this fact French investment business – Group Bernard Tapie (GBT) is still sanguine about the possibility that a deal could be struck. The aim of the game from their point of view is to help save this online poker room.
Lawyers who are savy regarding such matters as the recovery of bankrupt businesses, have warned that any deal with Group Bernard Tapie is conditional on the conclusion of the resolution of this matter with the DoJ. But not only that, it is also contingent upon Full Tilt customers’ world-wide on having their funds returned to them. According to the information available – customers of this site are owed approximately $300 million.
In the meantime the question is being asked “can Ultimate Bet and Absolute Poker pay back customers before Full Tilt?” Hopes are being raised that Ultimate Bet and Absolute Poker members will be paid back, after having heard virtually nothing since these sites were closed down on Black Friday. The Kahwanake Gaming Commission has been responsible for the raised hopes, and a press release stated that the parent company – Blanca Games – of the two beleaguered online poker sites, may be liquidating some assets to ‘facilitate the reimbursement of both US and non-US players’.
The Kahwanake Gaming Commission said that they have been involved in regular and close discussions with these licensees, and that processes were in place for a potential solution. It is the foremost concern of the Kahwanake Gaming Commission that affected players are reimbursed without further delay. Whether or not this will happen, only remains to be seen.
Written by Neha A
How is it fair that only the department of justice wants 1 billion dollars. listen all i want is my 1200$ so take the billion and eat it.