Situation Looking Bleak Again for Those Owed by Full Tilt Poker

Hopes appear to be dashed that French investors Bernard and Laurent Tapie can save shuttered online poker room Full Tilt Poker, at least where payment to customers is concerned.

The company was shut down on June 29 after the Alderney Gambling Control Commission yanked its license during a period of review. Last week, the AGCC announced it has officially revoked Full Tilt Poker’s license. Full Tilt Poker had stopped paying US customers after an April 15 indictment and charges of money laundering against two of its top executives. Three other stakeholders in the company were named as defendants in a civil complaint late last month.

Following that announcement, the Tapie’s confirmed they were interested in acquiring Full Tilt Poker. Now it appears the father and son tandem only want a minority control in the company, perhaps as little as 5 percent.

Furthermore, it was suggested that customers still owed millions of dollars could see their funds again only by becoming equity owners in Full Tilt Poker. For US players affected by the closure, such an arrangement would be deemed illegal under current laws.

I have said this many times before, I am so glad I deleted FTP from my computer after only playing on it for 1 month. It was going to be either FTP or PokerStars that was going to get my deposit and I chose Stars.

After this nasty mess with FTP, I made a wise decision.