Full Tilt Poker Victims Face Nov. 16 Deadline To Make ClaimNovember 15, 2013 12:16 pm
Two months ago claims administrator Garden City Group (GCG) started the remissions process for defrauded Full Tilt Poker customers, but on Saturday, November 16, the opportunity to claim compensation will come to a sudden close with just a fraction of those players having filed a claim online.
Since September 16th, the government hired payment processor sent out around 1.4 million emails, but according to the Poker Players Alliance just over 35,000 petitions have actually been filed so far. With American players still owed over $150 million from the old Full Tilt Poker website, it seems likely a large proportion of players are destined to never recover their funds.
Last year, PokerStars parent company, Rational Group, agreed to forfeit $547 million dollars to the US Department of Justice with a portion of those funds then being used for the remission process. Full Tilt Poker customers could then look forward to at least retrieving their funds based upon their final balances as of April 15, 2011, with compensation reportedly expected during the first quarter of 2014.
If you are one of those players yet to file a claim, then click here otherwise by Saturday you will have lost any future claims to your funds. As it mentions on the claims website:
“No one is prevented from filing a Petition for Remission. If GCG is unable to provide you with a Petition and Control number, you may still file a new Petition by clicking here and then clicking on the “Create a New Petition” button. All Petitions—confirmed, disputed and new—will be reviewed after the filing deadline, using the Department of Justice criteria to determine eligibility for remission.”
The whole Full Tilt debacle started in April 2011, on Black Friday when Full Tilt Poker was shut down by the federal government, after which the company went insolvent while being accussed of defrauding its customers of hundreds of millions dollars. However, the company has since been bought by PokerStars, who compensated its non-American players, while the U.S. government hired the Garden City Group to cash out Americans.