U.S. Full Tilt Poker players are one step closer to receiving funds in the remission process as the DoJ has approved the disbursement of roughly $82 million from about 30,000 player claims that were not disputed.
Poker Players Alliance Executive Director John Pappas spoke to representatives of the Asset Forfeiture and Money Laundering Section of the DoJ and posted the breaking news on popular online poker forum 2 + 2. The claims administration firm handling the case, Garden City Group (GCG), will likely make a formal announcement on the official FullTiltPokerClaims.com website within 24 hours.
There is still no concrete date as to when reimbursement will actually commence, but it looks as though players with undisputed claims may be receiving their account balances well in advance of the March 31, 2014 target date. Players are advised to watch their email in-boxes in coming weeks for instructions on receiving payment.
“The onus is now on GCG to remit the funds to players,” Pappas posted. “I don’t know their payment process and it very well could be days, not weeks.”
An undisclosed number of the 30,000 claims in which players and the DoJ had the same account balances were filed either incompletely or not correctly and those players will receive notice on how to rectify the error. Pappas said that the number of such erroneous filings is likely small, but it was “significant enough for the DoJ” to make mention of it.
Still to be determined are the claims of players that do not match up with account balances on record according to DoJ figures, as well as reimbursement for affiliates and pros. More will likely be known regarding the claims of those players after the release of undisputed funds.
“The DoJ and Garden City are working on this very diligently and I trust they will be sharing news with this affected class of players soon,” Pappas said.
Although the filing deadline passed more than two months ago, players who have not yet filed for whatever reason may still submit a Petition for Remission. Indications are that “those claims will be considered,” Pappas added.