Message of Jeff Ifrah regarding AGCC trial - Page 64 - Poker News

tamiller866 · 09-22-2011, 03:00 AM

Quote:

Originally Posted by exoendo

being called a "busto fish" is hardly that harsh of an insult, nor one I have used often (probably no more than 3 times in this entire thread) and honestly in most cases it's likely an accurate description - not hyperbole.

It's a bit infuriating to see those with little to no stake in FTP speaking up with such nonsense while those with significant portions of their money online are suffering. It's borderline trolling.

I am not going to use the term "busto fish" anymore in this thread, just so I can't give people the ammo to complain about me. But I will continue to think it.

gg

CubKiller · 09-22-2011, 03:03 AM

Quote:

Originally Posted by exoendo

of course i understand why people are angry, but that is no reason to cut ones nose off to spite their face.

As poker players, we are meant to be rational and calculating, not emotional. There will be a time for howard and chris et al to get what they deserve. Right now it's time to focus on getting ourselves paid. Very reputable sources and posters have all commented on the fact that this deal could be legit and the real thing.

I truly believe those that are most negative and cynical in this thread are the ones with very little truly at stake in ftp. It's a bit infuriating when those with little to lose are speaking the loudest. Broke players that are barely effected by this situation are choosing to speak for those that literally have their net worth on the line in some spots.

Well said.

sluggger5x · 09-22-2011, 03:04 AM

Thank you for all the work exoendo!

kevmode · 09-22-2011, 03:11 AM

Quote:

Originally Posted by sluggger5x

Thank you for all the work exoendo!

+1 Much respect exonendo

P a s t · 09-22-2011, 03:17 AM

Quote:

Originally Posted by thepizzlefosho

1) the license means nothing in the US or to the DOJ. They maintain that what FTP was doing was illegal all along, and they couldn't care less about what some pretend regulatory body in Alderney says. Understand that the DOJ is going to get their pound of flesh regardless, and whether FTP gets it license revoked tomorrow or in a month makes no difference to them.

2) There is not enough remaining money to make any difference. Two months ago they only had $6 million on hand. That isn't even 2% of what is owed to players. Severance pay to employees and legal fees will probably eat up any amount of that money that is left. The fact is that there is no FTP money to be divvied up anymore. There is some chance that the class action suits could recover assets from the owners, there is some chance the DOJ decides to unfreeze accounts and allow that money to be distributed, and there is some chance that a bankruptcy sale would also result in money to be returned to players. But all of these things can happen (or will happen) regardless of whether or not FTP has a suspended license and pursues a last ditch attempt to sell the company and bring it back online.

I think the people here that think there is something to be salvaged without a sale are being naive. They aren't just sitting on a treasure trove of FTP money pretending it's gone hoping you don't notice. The money is either already in shareholder bank accounts, has been lost, has been frozen, or has been seized. There isn't anything significant to burn through. If they think that in 30 days they can find $300 million dollars and bring the site back by paying players I say **** it, give them a chance. The owners still have to fight their court cases regardless, but at least this way we stand a better chance to get our accounts balances returned.

And everyone that has any money on there seems to agree with me. I've yet to see a single player with 5 figures stuck on FTP that says the best case scenario is for them to get shutdown and get more bad press. You're deluding yourself if you think that the AGCC revoking their license tomorrow is going to in anyway increase the value of your money on the site.

for ****ing real

insidemanpoker · 09-22-2011, 03:20 AM

If it ever comes out that somehow it was the AGCC that prevented a deal, I swear I will make it my life's goal to bring their regulatory business down.

tneva82 · 09-22-2011, 03:41 AM

Quote:

Originally Posted by *******

People really seem to be misunderstanding what Ifrah's doing here.

An extension for FTP is a total freeroll for us. The only reason it wouldn't happen is the AGCC wanting to avoid looking bad.

An extension is clearly what's in the best interest of players getting paid. The status of their license isn't going to slow the DOJ down one bit, it just keeps FTP primed in the event that they do secure an investor.

Nope. Any potential owner wouldn't care this much about AGCC license. They can get new one elsewhere. Hell any new buyer would score major PR points from applying new license from more trustworthy licensee ANYWAY. AGCC has proved that it isn't doing it's job or caring about players.

Whatever the motivation is it's because FT owners are trying to get a delay for their own purpose. What that purpose is I don't know(maybe even FT owners don't know and are just desperate...) but whatever it is it is NOT because there is investor(odds are whole investor is just bogus one manufactured(maybe with bit of cash for them to pretend to be interested for a while) to get this delay) and most definetely is NOT for good of players.

FT owners want delay to help THEM and screw the players.

Whatever FT owners want players should oppose.

insidemanpoker · 09-22-2011, 03:55 AM

So you are saying subject poker is a BS news site? They would not put this story out there without proof beyond someones word so stop spewing nonsense.

tneva82 · 09-22-2011, 04:02 AM

Quote:

Originally Posted by exoendo

This thread is the equivalent of there being a 10,000 dollar pot and it's 5 dollars to call on the river, and people are saying NO EFF YOU I AM NOT CALLING and wasting my 5 dollars!"

More akin to "I'm not paying 1$ to have 0.000000000000(ad infinum)% chance of 10k pot when I could pay 0$ to get 0.001% chance of 1k pot"

Which is more +ev?

FT owners want delay to screw the players more. Nothing more, nothing less. If they would have got the delay it would have resulted in players getting screwed up even more. Never in getting any deal. There isn't serious investor who would really be buying it on limit that the license doesn't get revoked.

Might just as well believe in santa claus, tooth fairy, aliens that have visited earth and god. Doesn't make any of those true though.

Rolf Stigbygel · 09-22-2011, 04:02 AM

Quote:

Thank you for asking how you and other players can help. Right now it is important to encourage the AGCC to delay any ruling for a minimum of 30 days in order to permit a timely transition to a new ownership structure. The AGCC is aware of the identity of the new ownership group. It does not involve anyone associated in the slightest way with the current FTP membership. I plead with all of you to do this and unite in this one effort. A negative AGCC ruling will cause all efforts that have been undertaken to secure this investor group to fail and leave customers in the cold. It is not necessary for the AGCC to issue any negative ruling now. The company is not operating and there are investors truly interested in closing a deal with the company. I can assure you that the investor deal includes repayment of ALL player obligations. We have come too far in these months since Black Friday to let this fall apart now. Please.

Unless they can get the investors to come public, this is nothing but bull****.

They have been telling the same story since Black Friday. New owners coming up, everything will be refunded, bla bla bla. OF COURSE they are saying that. They're trying to buy time. They have been doing that all along.

I can't believe that some of you people are still buying it. If there where potential investors, they would contacts the AGCC themselves since that's their best chance to buy time.

guardian troll · 09-22-2011, 04:05 AM

Quote:

Originally Posted by Rolf Stigbygel

I can't believe that some of you people are still buying it. If there where potential investors, they would contacts the AGCC themselves since that's their best chance to buy time.

Quote:

The Alderney Gaming Control Commission is aware of the pending deal. They have received specific information about the deal from both Full Tilt and the prospective investors.

....

EYESCREW · 09-22-2011, 04:08 AM

Since Mr. Ifrah is sure an investor is right around the corner the players should ask Jeff if he would go ahead and front the players a return on their money. lol

Blizzuff · 09-22-2011, 04:12 AM

Quote:

Originally Posted by EYESCREW

Since Mr. Ifrah is sure an investor is right around the corner the players should ask Jeff if he would go ahead and front the players a return on their money. lol

WTF, this is the dumbest thing you've ever said.

ulken · 09-22-2011, 04:13 AM

Maybe the AGCCs unwillingness to cooperate is because they think that the new owner just will keep the license for a few months while getting another license, lets say IOM or GRA.

Maybe the quite small amount they would get wouldnt cover their costs?
Who knows, but the few people involved (in AGCC) couldnt even agree on how to keep the current hearing (open/closed).

guardian troll · 09-22-2011, 04:16 AM

Quote:

Originally Posted by insidemanpoker

If it ever comes out that somehow it was the AGCC that prevented a deal, I swear I will make it my life's goal to bring their regulatory business down.

i seriously doubt they have much concern for those with money on ftp

if they had the slightest bit of ingenuity and actually cared about doing whatever it takes to make it possible for ftp to get a deal done with new owners/investors this would already been settled.