Last updated: 19-09-11 11:00EDT
Great day for Full Tilt Poker; the hearing long-awaited for the future of the online poker room will be held today in London, closed before the Board of control of the island of Alderney (Alderney).
For those coming back from a long journey in space, remember that the licence for the 2nd largest poker online site was suspended June 29 and that today is (theoretically) that we know the future that it will be booked.
What should be expected? Probably at some recommendations and a time frame for Full Tilt Poker. It would be astonishing that a clear-cut decision is taken. In other words, Full Tilt Poker will probably have a list of things to do in a given time to continue to operate within the law.For the most pessimistic of you, rest assured; We do not believe that any radical decision be taken at the hearing (unless a big surprise). Just hope that Full Tilt will have the good will to comply with the recommendations of the Commission on control of the island of Alderney.
September 20, 12:15EDT
Yesterday, several (including us) were disappointed by the Hermeticism of the encounter between the Commission of Alderney and Full Tilt Poker. Neither FTP nor the AGCC has issued for comment on what was said at that meeting. The only thing we've learned is that the meeting was going to be postponed/continued today in the day. What obviously frustrate players awaiting the new clear since June 29. All what we have since that date is the assumptions of "maybe" and "probably". Nothing to answer clear questions of the kind: 'where's my money and when will I be able to the cashout?'
As expected, it was impossible for the public to attend this hearing. According to some witnesses, security guards were present at the Riverbank Park Plaza Hotel. This is also confirmed Marco Quadjacks.
Always on Full Tilt Poker, TheHendonMob.com (site with a great reputation for live players rankings) announced the end of his collaboration with the former number two of online poker. In an official statement dated September 18, HendonMob confirm ceased all its trade relations with FTP. They comment: "we have followed with interest the developments of the last months and sum saddened by the problems that continue to meet Full Tilt Poker. [...] We have therefore chosen in addition to cease to be part of the Full Tilt Pros, to put an end to the exclusive relationship with Full Tilt Poker. This frees us to new opportunities, as a site and only players."
We hope that today gives us more information on this record than yesterday. PokerCollectif will continue to monitor folder and publish the update as soon as possible.
September 20, 2011: 13:00EDT
Full Tilt Poker accused of stealing $440M to its players!
According to several sources, FTP would be a giant Ponzi scheme.
For your information, Wikipedia describes a chain of ponzi: "a chain of Ponzi scheme is a fraudulent financial circuit that is to compensate investments made by clients, through mainly funds provided by new entrants, the system being discovered and breaking when them are provided by new entrants are no longer sufficient to cover salaries of clients1. It takes its name from Charles Ponzi, who became famous after having set up an operation based on this principle in Boston in the years 1920 ".
"Manhattan US Attorney's office" has accused the Board of Full Tilt Poker members of pocketing the sum of 440 M$ which ought to be paid to players. Members of this Council included including Howard Lederer and Christopher "Jesus" Ferguson. Recall that earlier this year the domain name of FTP and several bank accounts were seized by the Department of the Justice.Aujourd', a new complaint is therefore filed against them by the DoJ, to retain enough money to pay its players. Instead, several million dollars have been directly in the pockets of the members of the Board of Full Tilt Poker.
According to acknowledge them, between the months of April 2007 and April 15 $443,860,529.89 were distributed to the members of the Council. As of March 31, FTP owed a total of $390M to its players. As of today, that would be around 300 M$.FTP Board members are also accused of laundering money in the order of:
$40,954,781.53 for Bitar
$41,856,010.92 for Lederer
25 M$ for Jesus Ferguson
11 M$ for Furst
This new could make FTP would revoke its licence.
According to a Forbes Magazinearticle, FTP would currently in its coffers 60 million $ it should more than 390 M$ to its players worldwide including 150 M$ players to the United States.
September 23, 11: 00 pm
Laurent Tapie wants to invest in Full Tilt Poker?
Several rumors are currently circulating around FTP. Recently, PokerCollectif spoke you of the possibility for french to invest in FTP investors. Today, the rumor would either Laurent Tapie (a name predestined to invest in the poker world), son of the famous Bernard Tapie, who would be willing to invest in FTP. According to this rumor, Tapie would have met the people's Pocket Kings (the company behind FTP) in Dublin some time ago. Tapie would be ready to invest 10% in total.
Ifrah denies the charge of the DoJ
During this time, counsel for FTP (Jeff Ifrah) denies the charge of the DoJ. According to him: "Full Tilt has certainly made mistakes, but I've seen no evidence that could corroborate the assertions of the DoJ about a chain of Ponzi scheme".
Ifrah confirmed what we knew, namely that french investors would be well and truly interested in investing in FTP. He said: "the french investors are working on a potential deal with Full Tilt Poker for a few weeks already. They travelled to Dublin for the first time on 24 August, 8 days after the expiry of the period of exclusive discussion with the previous group concerned "."
He finished by adding: "no other investor not mobilized as much resources and time that this group.
To date, on the site of the AGCC (http://www.gamblingcontrol.org) there was still no implementation in days concerning the meeting earlier this week.
The rest of the things you will be communicated here.
In the meantime, discuss this news on PokerCollectif forums: September 19, 2011: Hearing of Full Tilt before the Committee control of Alderney
