Poker sites seized by FBI - Page 37

lol subtle add there

One of FTPs accts unfrozen by DOJ, maybe expecting payment soon?
http://pokerfuse.com/news/poker-room-...lt-poker-black-friday-funds-unfrozen/

One of nine bank accounts unfrozen; no details on payment yet for US players. It has been reported that the US Department of Justice has released one account in Ireland that belongs to Full Tilt Poker. The estimated value of that account is between $100 million and $150 million. EGaming Review (EGR) reported that the funds that were released represent more than one third of the outstanding money still owed to US players and the account was “one of nine FTP accounts frozen in Ireland.” Still, no time frame has been set to begin returning those funds. Earlier this week Bradley Franzen pled guilty to charges of conspiracy to commit bank fraud, accepting funds in connection with illegal gambling, and conspiracy to commit money laundering as part of a plea agreement. According to the press release by the United States Attorney Southern District of New York: FRANZEN admitted that in early 2011 he had been asked to help Full Tilt Poker deal with a $60 million shortfall created by the company’s inability to find a payment processor to process transactions involving U.S. player accounts. The company was facing the shortfall because it continued to credit funds to player accounts despite being unable to actually debit (or “pull”) funds from customers. EGR sites a source inside of FTP as stating that in addition to the funds frozen by the DOJ, some banks were taking it upon themselves to freeze the accounts of FTP as a precaution, even though they had not been ordered to do so by the DOJ. EGR quotes their source as saying: Banks that weren’t even subject to restraining orders started shutting down because they thought “we’ve got to be careful, the Americans are after us.” We actually had to ask the prosecutors to call these banks and tell them they weren’t interested in them. With regards to paying US players EGR’s source was quoted as saying: There are a lot of factors involved. Some of that is the $60m backlog referenced in the Franzen case, some is the bank accounts that voluntarily decided to restrain funds, and some is the status of negotiations with the Southern District. All of those issues together contribute to creating an impediment to paying players back, an impediment which wouldn’t be there if each of those things didn’t exist. Though the news is encouraging to US players that have had their funds frozen since “Black Friday,” the start of the World Series of Poker is upon us and many players are relying on those funds to be able to participate in the tournament series.

http://www.facebook.com/philivey?sk=wall&filter=2

few statements made by Phil Ivey-
cliffs - hes filed suit against tiltware for nonpayment of player funds

For many years, I have been proud to call myself a poker player. This great sport has taken me to places I only imagined going and I have been blessed with much success. It is therefore with deep regret that I believe I am compelled to release the following statement. I am deeply disappointed and embarrassed that Full Tilt players have not been paid money they are owed. I am equally embarrassed that as a result many players cannot compete in tournaments and have suffered economic harm. I am not playing in the World Series of Poker as I do not believe it is fair that I compete when others cannot. I am doing everything I can to seek a solution to the problem as quickly as possible. My name and reputation have been dragged through the mud, through the inactivity and indecision of others and on behalf of all poker players I refuse to remain silent any longer. I have electronically filed a lawsuit against Tiltware related to the unsettled player accounts. As I am sure the public can imagine, this was not an easy decision for me. I wholeheartedly refuse to accept non-action as to repayment of players funds and I am angered that people who have supported me throughout my career have been treated so poorly. I sincerely hope this statement will ignite those capable of resolving the problems into immediate action and would like to clarify that until a solution is reached that cements the security of all players, both US and International, I will, as I have for the last six weeks, dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment.

Wonder if he writes this stuff himself..

Of course he doesn't but the message is still an impressive one. For a guy like Ivey who isn't playing in the WSOP where it is for the most part, an extremely lucrative opportunity because of the action, prestige, and side prop bets, shows to me that he really does care about the little people.

wow this deserves a thread of its own... Ivey suing fulltilt when he was probably the most important face behind it, this is really big.

Also Bord made a big scandal with Juanda calling him a thief and stuff probably also related to fulltilt: http://www.pokernews.com/live-reporti...-hold-em-championship/post.182501.htm

On May 31 2011 23:50 Jhyun88 wrote: Wonder if he writes this stuff himself..

BLUFF has independently confirmed that the statements have come directly from the Phil Ivey management team, which includes Joe McGowan.
Bluff Link

wups... hope LP's FTP players get their money out of there in time before the panic.

http://www.subjectpoker.com/2011/05/ftp-funds-not-unfrozen/

DOJ: NO FTP Funds Released May 31, 2011 By Noah Stephens-Davidowitz The Public Information Office of the US Attorney’s Office has informed Subject: Poker that NO deal has been struck with Full Tilt Poker to release or unfreeze any funds. eGaming Review Magazine reported Friday that an Irish bank account containing “more than a third of the US$100m to $150m still owed to US players” had been released to FTP. They cited an unnamed FTP source as having provided the information. The false story was widely reported on other gaming news sites, on social media, and on various poker forums. The rumor also lead to widespread speculation that Full Tilt’s Monday announcement would include a timeline for the return of US player funds. It did not. The USAO representative made clear that funds had not been released and that any such action by the government would be accompanied by a public filing. She made mention of numerous false rumors that have spread through the poker community since Black Friday. Subject: Poker cautions its readers to be skeptical of any news or rumors that they read, including the news found on this website. News with no cited source or from only one anonymous source should be read with a healthy amount of distrust. We will personally do our best to provide our readers with well-sourced information, and when we inevitably get something wrong, we will always publish a clear update admitting our mistake.

As much as I appreciate Ivey's efforts, I don't really understand what's going on. I thought FTP is struggling to return US players' funds because their shit is seized by the DOJ. So how is Ivey suing FTP going to help everything? Or is there more going on here than what meets the eye. At any rate, I don't think the foreign players are in any trouble, so... DvoBoardRider, you should refrain from making others nervous imo.

there is prolly something happening behind the scenes we don't know about making ivey act for the players to speed things up.

ivey is not an idiot.

oh... i didn't intend for my post to make you nervous. but just so you know, FTP doesn't have the player's funds segregated and protected. pokerstars does, so it was easier for them to pay back the players from the US. FTP might take a little while longer.

you two are kind of slow, Ivey obviously knows something we dont and he is going public on something he consider FTP is doing immoral shit like not really doing anything in their power to pay back americans and probably looking for themselves first etc.

^ that's what i was trying to say... mexican.

is that so? then way to contradict yourself on your second post claiming that FTP hasnt been able to pay due to their accounts being frozen, which totally goes against what Ivey is implying here... retard.

ban baal

Has anyone tips how to cashout from FTP through MB? or it is closed for all cashing methods?

On June 01 2011 05:27 anon wrote: Has anyone tips how to cashout from FTP through MB? or it is closed for all cashing methods?

i've been waiting for this too i thought i heard a few countries were able to use moneybookers for FTP to 'test' if it would work / they could handle it or something, but don't know if this is 100% correct.

anybody been able to use moneybookers from any country lately on FTP?

been hearing rumors that they allow to withdraw for UK, is that true?

wow being able to withdraw are just rumors on ftp now? good luck with your money up there...