DoJ Moves One Step Closer to Full Tilt Repayment

DoJ Closer to Full Tilt RepaymentThe Department of Justice has issued a statement indicating that a claims administrator for the repayment of FTP funds to US players will be appointed soon.

Only a week after the Poker Players Alliance (PPA) admitted that US Full Tilt Players should expect a long wait before receiving their funds, the Department of Justice has updated their web site to indicate that a claims administrator should be appointed soon to oversee the Full Tilt Poker repayment process and working by January 2013.

The text of the announcement gives no indication of how long the repayment process may take or how players balances would be calculated to include any rakeback, FTP Points or outstanding bonuses each player would be entitled to; but – after last week´s gloomy news – this is a step in the right direction for players who have had a significant amount of money locked away since Black Friday.

The full text of the DoJ announcement is as follows:-

November 20, 2012Victim Update.

The United States Attorney’s Office for the Southern District of New York is evaluating applicants for the position of Claims Administrator to handle petitions for remission for U.S. victims of the alleged fraud that Full Tilt Poker committed relating to player funds. The United States Attorney’s Office expects that the Claims Administrator will be selected and begin work in January 2013.

Poker Players Alliance Response

After the news was announced, John Pappas – Chief Executive of the PPA – went online to answer questions about why the Department of Justice had not told Pappas and his legal team about the schedule for appointing a claims administrator in their meeting last week.

Question: Why would the DOJ tell the PPA they had nothing with regard to new information about remissions, then turn around a few days later and post an update specifically about new information?

Pappas: It is all pretty simple. We asked AFMLS [the DoJ´s Asset Forfeiture and Money Laundering Section] if a claims administrator had been hired they said “no.” We asked when they expected that to occur and they said that USAO [United States Attorneys´ Office] was handling the claims administrator (i.e. the Southern District) and that they were “working on it.” I suspect AFMLS checked in with the USAO after our meeting to get an update.

Pappas went on to state that the selection of a claims processor was just one part of Full Tilt Poker repayment process and tempered online enthusiasm by reminding players that there will still be a substantial administrative process before players start seeing their money.