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One Full Tilt Poker Bank Account Unfrozen

May 29, 2011

Many online gamblers still have money tied up in their Full Tilt Poker bank accounts and have been waiting patiently or impatiently for the day to come when they may see their money again. Since Black Friday when their domain was seized by the FBI along with numerous bank accounts, the question has been whether or not former Full Tilt Poker players residing in the US who were shut out of their accounts will get their money back or not.

The Irish bank account of Full Tilt Poker co-founder Raymond Bitar has been unfrozen by the US Department of Justice, making it possible for Full Tilt to begin the process of repaying all of their US players who had money in their accounts. By releasing this bank account, it is now possible for at least one third of the owed $150 million to be returned to players.
However, before players get too excited, a Full Tilt Poker spokesperson has suggested that while this is a great start and a move in the right direction, it doesn’t guarantee that the funds will start flying back into accounts. Furthermore, a date was not mentioned regarding when players could start to expect seeing their money. Will it be before the World Series of Poker? Maybe. Maybe not.

The Full Tilt Poker spokesperson added that there are additional issues such as banks that weren’t even seized withholding player funs. They just decided to close down when all the mess went down, and now they’ll have to be ordered to reopen in order for the funds to be released. There are also other questions lurking like how much money is there actually? Is there even enough to refund all the players after fines are paid and backlogged money is tallied?

So while it is good news that the DOJ has released one of the bank accounts associated with player bankrolls, but don’t start counting your money just yet.

Written by Bea · Filed Under Poker News 

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