Garden City Group: Full Tilt payments coming soon
Chris Grove of OnlinePokerReport.com was the first person to throw cold water on the unknown source from the Garden City Group who claimed that Full Tilt Poker payments for US players were “at least a year off”, which he did on last week’s Rabbit Hunt podcast that he co-hosts with Mark Gahagan. And it now appears that Chris’ hunch about unnamed sources and unofficial announcements was spot on, considering that late last night the Garden City Group released a far more official update on the FTP remission process, saying that the claims process will begin “shortly.”
Thursday night’s news contradicts a Cardplayer.com article published just a few weeks ago, where they quoted an unnamed GCG supervisor as saying:
“There are no dates set in stone as of yet,” he said. “We haven’t even begun the claims process.”
The new information comes via the official GCG Full Tilt Poker claims website (www.fulltiltpokerclaims.com) and not only says the process will begin shortly and that the initial data review has been completed, but also indicates that the calculation used will be players’ end-balances at Full Tilt Poker on April 15, 2011 –which should be very welcomed news in the poker world.
What remains an unknown at this point is how or even if GCG will value things like Ironman Medals or Full Tilt Poker Points.
Here is the full update from the GCG’s Full Tilt Poker website:
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.
If you haven’t yet registered your Full Tilt Poker information, you can still do so by visiting the following page on the GCG website: https://cert.tgcginc.com/pkr/request.php
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