Ferguson accounts 'could' impact FTP deal
According to Subject: Poker, Chris Ferguson had "secret" accounts into which he used to transfer FTP money before Black Friday. Pocket Kings held these accounts for him. Subject Poker estimates that Ferguson transferred around $60 million to these secret accounts. In addition to that amount, the Department of Justice reported, back in April 2011, that Ferguson received $25 million from FTP. SP's report says that Ferguson managed to withdraw about $45 million of the funnelled money, but $14.3 million of it was used, with Ferguson's approval, to cover FTP's post-Black Friday expenses.
Subject Poker sources say that the initial agreement between Full Tilt and Groupe Bernard Tapie included plans to give Ferguson passive shares worth roughly $14 million. These plans were canceled after the DoJ intervened and stipulated that FTP's board of directors could not be involved in the new company. Ever since, Ferguson and Ian Iamrich, his attorney, are claiming the $14.3 million back and are threatening to take legal action to see an accounting of the money and claim any money spent improperly. Ferguson has also threatened to file for constructive trust over the money seized on Black Friday, as well as injunctive relief, which could delay the forfeiture of FTP assets.
Read the full report here.
Online poker granted new Congressional hearing
Another hearing on online poker is going to take place in the US Senate on February 9. One of the topics of the hearing will be a recent decision by the Department of Justice to reverse its position on the Wire Act of 1961. Late in December, the DOJ stated that “interstate transmissions of wire communications that do not relate to a ‘sporting event of contest’ fall outside the reach of the Wire Act," which means poker is not in violation of the Wire Act, as it had been in the past.
Rich Muny, a representative of the Poker Players Alliance, sent the following e-mail to PPA members this week: "These continued hearings are hard evidence of the great work the poker community has been doing to ensure our elected representatives hear from us. I thank everyone for taking the steps necessary to ensure our elected representatives understand that we poker enthusiasts will not back down and will not simply go away!"
World Poker Tour releases Season X TV schedule
The World Poker Tour will return to Fox Sports News on February 12 at 8pm with a Season X preview. The first episode will show the spectators bits of what is coming. Unlike other poker tv shows, the previous season of the WPT saw a large increase in ratings, so FSN decided to expand the number of episodes from 26 to 37 in season X. Mike Sexton and Vince Van Patten continue to be the voices of the show, providing commentary for televised events. They are joined by Kimberly Lansing and Tony Dunst.
World Poker Tour Season X schedule:
Feb. 12 – Season X Special
Feb. 19-Mar. 4 – Legends of Poker
Mar. 11-25 – WPT Grand Prix de Paris
Apr. 1-15 – Borgata Poker Open
Apr. 22-May 6 – World Poker Final
May 13-27 – Five Diamond World Poker Classic
June 3-17 – WPT Venice Grand Prix
June 24-July 8 – LA Poker Classic
July 15-29 – Bay 101 Shooting Star
Aug. 5-19 – Seminole Hard Rock Poker Showdown
Aug. 26-Sep. 9 – WPT Jacksonville
Sep. 16-30 – WPT World Championship Super High Roller
Oct. 7-21 – WPT World Championship