I don't think any bank is going to touch them, but there may be investors, who are probably low balling them in a major way. For loans, I would guess maybe they are talking to some of their more successful sponsored pros or winning players they have good relations with. (The owner(s) of FTP might very well have good friends and acquaintances who wouldn't rake them over the coals.) I am treating loans in a broad sense of the word that would include things like bonds.

I haven't been tracking their traffic, so I don't know how they have been doing there since the initial BF hit. They still have brand recognition and a reputation that is very salvageable if they can pay out US balances, which is worth a lot.

And they still have a lot of down side, too, don't get me wrong. And I think they made some monumentally bad decisions that caused this to be a much bigger mess than it needed to be, which pisses me off greatly.

Doug this is what you need to do run another triple guaranteed, find howard lederer, cash out u.s. players right after u raise the cash or give us a date when u will cash us out, and start telling everyone the truth and pretending ur site is legit. Looking forward to the next announcement which will be like every email or announcement ftp ever made which will be full of bs trying to protect ftp because there busto

FTPDOUG posted it the other day in the NVG thread "fulltilt business is failing?"

idk if it was 60 million but Stars did the exact same thing as FTP. I could deposit up to $600 via echecks and I instantly had it in my Stars account and they can't verify it's in my bank account instantly. So they floated me a loan just like FTP did. There were a ton of stories where people would do transfers on 2p2 with illegitimate bad echeck deposits via Stars as a scam. Stars (and FTP) just thought that the money made from legitimate deposits was greater than money lost due to echeck fraud. But it's way easier to just start making stuff up and then all the random zootards will freak out.

and you'll have a whopping legal invoice to settle when your legal team can't get their fees from FTP, should they ever be found guilty lol

you hawking for business lawyer?? are you competent in Alderney Law??

I feel what FTP is doing is buying time to run away/hide away. I agree with other thread it is time for legal action.

S

FTP has provided a fair game at a fair rake for years. They have supported Poker players who became everyone's heros for ages and have by far the best software in the business. Why would I want them to go broke?
Having liquidity issues doesn't mean you are broke. I am non US, I play there everyday. My withdrawals are paids (granted it's slow at the moment) RB is paid my leaderboards bonuses are paid. The fact that they are still doing TV shows is actually a good sign. I remember the days where everyone was saying that Party was dead (or UB) these guys are still there. I hope FTP sort their problems out with the stupid US DOJ, I hope you guys get paid quicly but I certainly don't hope they go broke.

You mean the one that somebody dug up from 2008 (not exactly "the other day" where what he actually said was that keeping funds in separate accounts that would be protected is not feasible for Full Tilt? He does say that player funds are kept separate from operating funds, but that obviously changed at some point, although nobody knows when, because their TOS now specifies that player funds are *not* segregated.

And even if they were kept separate, that doesn't mean they would be protected from seizure, nor does he say that anywhere.

So I guess that means stfu?

ok, i've been relatively pro-ftp since this has been going on, but now i'm mad...i still think there's an ok chance US players get paid sometime, but who knows how long....but anyways, **** you ftp, and i better not see any of your little "pros" sporting their nice little ftp badges at the wsop

This is not necessarily true. Many start as an honest business and greed
takes over. I dont think its implausable Fulltilt would advance a small percent of player balances for other needs/wants wih the intention of covering these with future profits. With the cast of pros over there I wouldnt put it past them. I am not saying it is likely, but dont be naive and think its impossible.

Yep not looking good.

I've seen the figure floated around, I suppose there is no definitive way to tell if that number is correct. (specifically remember seeing it here: http://www.cardrunners.com/blog/Zimba)



Was pokerstars then allowing withdrawals on those uncleared deposits? I know of a few people I play home games with that deposited on FTP and took it out the next week.

Again, as much as the money is important to me and would alter the way I'm able to live right now, I'm not losing my mind over this. At the risk of sounding cheesy, life is all a mind-frame and if you drag yourself down it will inevitably lead to more frustration and unhappiness. Out of my hands, I'll just continue to keep my fingers crossed.

@zachvac -I agree with the basics of your post (US players will probably get paid eventually, FTP is not broke, most companies don't keep large amounts of cash on hand since it is much better business to use that money to make more money through solid investment).

However, that doesn't mitigate what I believe is deserved anger over FTPs improper business practices, including failure to report their player fund practices (it has been reported multiple times that this info was not available on their website around BF, in direct violation of their licensing authority) and floating millions of dollars for players to use without recovering the money from player bank accounts.

FTP is far from an innocent victim in all this. It doesn't really do much good, IMO, but anger directed at FTP is justified, in my opinion.

How can you be defending him, and their company? You must not have any money stuck on there. He said the funds were segregat5ed, they should be segregated, just like pokerstars had, hence their ability to already pay, as they could easily show the DOJ these are the player funds, ft on the other hand cant, cause they dont have the funds to pay, as they are not segregated, your such a moron to not realize your not getting paid, and your standing there telling us to stfu.... unreal, your money has been stolen and your yelling at the cop who asks you to describe the villan

I think, though I am certainly not sure, that the key difference is that FTP floated the money when they did not have a payment processor. IF, and that is a big if, Stars only floated the money for the transfer time when they had reason to believe they would be able to get the funds in the course of a business day or three, that is a big difference. People have been writing bad checks since checks were invented; all businesses have to deal with fraud. Taking an e check when you have no way of processing it, and don't know when you are going to have a way, and giving the player the money up front is just really bad. The scale of the money involved also has to make thing like keeping player accounts segregated from operating expenses really hard.