FBI seizes domains of pokerstars, full tilt, ub.. (UPDATE: FTP MONIES!!!!!11)

[fjuanl]

Omg an update:


GCG, 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, has completed the review of data provided by Full Tilt Poker ("FTP"). It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players' final balances with FTP as of April 15, 2011 (the "FTP Account Balances"). The claims process will begin shortly. Once the process begins, GCG will email instructions on how to complete an online claim to all potentially eligible claimants identified by GCG utilizing data supplied by FTP. Account balances from online poker sites other than FTP are not included in this remission process. Petitioners must also meet all other requirements outlined in 28 C.F.R. § 9.8 to be considered eligible for remission.

If you do not receive an email notice and you believe you are eligible to participate in the remission process, you may file a claim online using the directions that will be provided on this website.

If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.

Please continue to check this website for updates regarding this administration.

Last updated August 1, 2013.

http://www.fulltiltpokerclaims.com/index.php

[jackvance]

If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.

Lawyer talk for "everyone is only getting back a fraction of their account balance".

[boost]

Lawyer talk for "everyone is only getting back a fraction of their account balance".

Nah, I don't think so. That may end up being what happens, but I think that's just a super standard line that they throw in there. I mean, this is the exception to the rule. They are paying us on account balances. That's pretty much never the case for Asset Forfeiture.

But still.. shouldn't get too excited. It seems imminent now, and it's awesome to know it's account balances, but "begin shortly" could mean anything with these guys, and that's just the first phase. Then they have to go back and use an abacus for who knows how long before they actually pay out. Before the end of October would be AMAZING for me, but I think before the New Year is wishful thinking.

[jackvance]

Nah, I don't think so. That may end up being what happens, but I think that's just a super standard line that they throw in there.

I agree it's a standard line, but we don't live in a universe where they'll actually have MORE funds available than everyone's balances combined.

[JeffreyGB]

I agree it's a standard line, but we don't live in a universe where they'll actually have MORE funds available than everyone's balances combined.

If my memory serves, reported numbers were that the amounts owed out totaled ~185M and Stars paid ~240M. So it is entirely possible.

[fjuanl]

The majority of the accounts probably dont have much money in them and I think they will decide its not worth it to go through the claims process. I hope