Claims administrator to help reclaim Full Tilt Poker funds


The Department of Justice has brought in a third-party claims administrator to help eligible American online poker players reclaim funds that were lost to Full Tilt Poker after the company’s access to the United States was cut off in April 2011.

U.S. Attorney for the Southern District of New York Preet Bharara said Wednesday that bringing aboard Garden City Group was “a significant step forward in the process of compensating victims of the Full Tilt Poker scheme.”

In July, PokerStars settled its legal dispute with federal prosecutors, agreeing to forfeit $547 million to the Justice Department and to assume Full Tilt’s liability for the approximately $184 million owed to players. PokerStars acquired Full Tilt as part of the settlement.

Full Tilt and PokerStars were named as defendants in a civil forfeiture action, alleging bank fraud, wire fraud, money laundering, and illegal gambling offenses.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.

 

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