Former U.S. Full Tilt players still waiting for payment in the remission process will be pleased to know that the Department of Justice has approved another round of reimbursement.
The official Full Tilt Poker claims website operated by claims administrator Garden City Group (GCG) provided an update yesterday indicating that roughly 2,000 petitioners are in line to receive their outstanding funds.
About $4.3 million will be arriving in the bank accounts of those claimants shortly, following a testing procedure that may result in players seeing a deposit of zero dollars in their respective accounts before the actual deposits go through.
Some FTP Pros Included in Latest Batch
Petitioners on the receiving end in the latest wave of reimbursement include those claimants whose account balances were in dispute, as well as those whose balances were confirmed. Additionally, some players deemed to be professionals by Full Tilt will also be getting their cash – some four years after the site went down.
After this round of payments arrives in the bank accounts of former Full Tilt players in the U.S., 87% of the remission process will be complete. The GCG and the Asset Forfeiture and Money Laundering Section of the DoJ continue to work in tandem on processing the claims of the remaining 13%.
Some of those petitioners within that 13% whose claims are approved following review will be included in another round of payments later this year. The GCG put a timetable on the end of September for the next batch, without revealing whether or not that will consist of all the remaining claimants or if more rounds of reimbursement will be forthcoming.
Reimbursement Surpasses $100 Million
This newest round of payments in the Full Tilt remission process will put the total amount paid to date at over $100 million. The first batch went out on February 28, 2014 and put a whopping $76 million into the pockets of players. That date has been affectionately dubbed “Green Friday.”
Four additional rounds of reimbursement followed since, none anywhere near the initial disbursement amount on Green Friday. The next largest amount doled out in a single wave was $14 million. The smallest was roughly $1.8 million.
All told about 57,000 petitioners have been paid at this time. That will jump to around 59,000 – and just shy of $104 million – once the latest round of payments are received.
Responses Needed From Some Claimants
The GCG’s latest update also informs that some petitioners filed claims that have been categorized as deficient. Insufficient documentation is listed as one such deficiency. The GCG will be sending notices to players whose claims are lacking for that reason and others.
Players who receive a notice of deficiency have 20 days in which to respond. It is in the best interest of such players who receive said notice to respond in a timely manner, as failure to do so may result in claims being rejected.