PokerStars APRIL 15 Statement (2+2) and FTP Statement --- Plus Further Updates (cliff's added) - Internet Poker

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PokerStars APRIL 15 Statement (2+2) and FTP Statement --- Plus Further Updates (cliff's added)

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04-15-2011 , 11:48 PM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

quoted from this thread;
Trouble: Online poker web sites seized by the FBI (Stars + Tilt included)

Quote:

Originally Posted by PokerStars Steve

As you may have heard, PokerStars has had to suspend real money poker services to people based in the US due to legal developments there. These developments are confined to the US and do not have any impact on the ability of players outside the US to continue using PokerStars services.

Please be assured player balances are safe. There is no cause for concern about loss of funds in your PokerStars account. For all customers outside the US it is business as usual.

The PokerStars website has been moved to www.pokerstars.eu, and the PokerStars Support email address is now support@pokerstars.eu. PokerStars apologises to all players for any inconvenience caused by this disruption.

Please be aware that PokerStars Support is currently experiencing a very high volume of emails, so response times are delayed. Player emails will be answered as quickly as possible.

It is understood that many players, especially those from the US, may have additional questions or concerns about these changes, account status, and cashouts. The information above is all the information available at this time. PokerStars management and legal team continues to review the situation and will provide additional information it becomes available.

As there is no additional information available to pass on, I will not be answering follow-up questions at this time. Thank you for your patience and understanding in this matter.

04-16-2011 , 12:14 AM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

PokerStars Lobby pop-up:

04-16-2011 , 02:47 AM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

04-16-2011 , 11:00 AM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

The latest Pstars pop-up:

..and MTT guarantee notice:

Last edited by Rainbow Warrior; 04-16-2011 at 11:30 AM.

04-16-2011 , 11:45 AM

Mike Haven

Moderotor of Moderots

Join Date: Sep 2002 Posts: 14,616

Quote:

Originally Posted by ThePreacherJesse

The person speaking with me, Caleb, said that we can gain access to our account if we have an address overseas. We need to email PS a copy of our lease/bank statement and our ID. Which is the same process as before. You will not be allowed to access tables from the USA.

Can anyone confirm that they have spoken to PS and have heard the same thing? This, apparently, goes against emails first received from Poker Stars. I want to make sure that the person I was talking to did not make a mistake.

Quote:

Originally Posted by PokerStars Steve

It's important to distinguish that Caleb told you that if you relocated out of the US you would be able to play on PokerStars, you would be able to play on PokerStars. Players will have to both show documents to back up their relocation and be physically located outside of the USA whenever they are playing on PokerStars.

PokerStars is not pleased to not be able to allow play from within the US. However, these restrictions are necessary at this point in time and they will be strictly enforced.

04-16-2011 , 12:44 PM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

For all the latest updates and news links see Kevmath's NVG Sticky.

.

Last edited by Rainbow Warrior; 04-20-2011 at 02:22 PM.

04-18-2011 , 12:35 PM

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

ESPN Poker article
http://sports.espn.go.com/espn/poker...ary&id=6372121

The AP log-in notice

Last edited by Rainbow Warrior; 04-20-2011 at 02:21 PM.

04-19-2011 , 06:38 AM

Mike Haven

Moderotor of Moderots

Join Date: Sep 2002 Posts: 14,616

Indictment.

04-20-2011 , 11:35 AM

Mike Haven

Moderotor of Moderots

Join Date: Sep 2002 Posts: 14,616

Refunds on their way?

04-21-2011 , 02:38 PM

#10

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

PokerStars April 21 e-mail:

Dear VIP player,

PokerStars is pleased to announce that an agreement has been reached with the US Department of Justice that will allow US residents with funds in their PokerStars accounts to cash out without DoJ interference. Cashouts can begin as soon as PokerStars finds a suitable payment processor, likely within several weeks.

This rapid agreement is the direct result of PokerStars making it the #1 company priority to return account balances to US residents as quickly as possible.

US residents are still welcome to play upcoming PokerStars-sponsored live events such as EPT San Remo and EPT Grand Final in Madrid. Tournament packages and buy-ins won or otherwise earned on PokerStars will be honored. If you would like to register for these events using funds from your PokerStars account, please email registrations@pokerstars.eu.

More information of interest to US residents is available on a special Frequently Asked Questions webpage located at:

http://www.pokerstars.com/usaplayers/faq/

This page will be updated as more information becomes available.

Please note that the PokerStars website has moved to www.pokerstars.eu and the primary support email address has changed to support@pokerstars.eu. The PokerStars.com website and email addresses are gradually being restored, but it's best to use these addresses for now to be sure your communication gets through.

Thank you for your patience and understanding as PokerStars works to make your funds available for cashout as quickly as possible after recent unexpected events.

Regards,

Gareth
PokerStars VIP Team

05-17-2011 , 02:10 PM

#11

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

May 3 - AP/UB Staff reductions thread

http://forumserver.twoplustwo.com/28...funds-1034006/

06-09-2011 , 05:30 PM

#12

Mike Haven

Moderotor of Moderots

Join Date: Sep 2002 Posts: 14,616

Quote:

Originally Posted by Mark275

5.11. Residents of the United States and United States Territories are not permitted to make deposits into their accounts or engage in real-money play. They may cash out their existing account balances. Residents of other nations are not permitted to engage in real-money play while located in the United States. Any attempt to circumvent the restrictions on play by residents of the U.S. or U.S. Territories, and by residents of other nations while located in the United States, is a breach of this Agreement. An attempt at circumvention includes, but is not limited to, manipulating the information used by PokerStars to identify your location and providing PokerStars with false or misleading information regarding your residence.

06-29-2011 , 09:53 PM

#13

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

Exclusive: Alderney suspends Full Tilt's operating licence 29/06/2011

http://www.egrmagazine.com/news/1673...-licence.thtml

Quote:

As you have heard, the Alderney Gaming Control Commission (AGCC) has suspended Full Tilt Poker?s license with immediate effect, subject to a formal hearing late July.

Full Tilt is in ongoing discussions with the AGCC with the aim of rectifying the situation as soon as possible, therefore re-enabling real money play on the site.

Unfortunately, until this is resolved Full Tilt Poker is unable to facilitate any play, and this includes deposits and withdrawals.

Full Tilt Poker are deeply sorry for this inconvenience and will update you as and when there is further information available.

Thanks,

Angela
Full Tilt Poker Black Card Support

08-27-2011 , 03:20 PM

#14

Rainbow Warrior

flight risk

Join Date: Sep 2002 Posts: 5,815

NoahSD's nvg cliff's -

Quote:

Originally Posted by NoahSD

Cliffs:

April 15th Black Friday - The Department of Justice shuts down US operations of FTP, Pokerstars and UB.

April 26th - Pokerstars allows US players to cash out but Full Tilt Poker does not allow US players access to their funds. As reported by Pokeraddict.net.

May 31st - The WSOP starts and a few team FTP pros showed like Allen Cunningham, John Juanda and Erick Lindgren but notably absent were Phil Ivey, Chris Ferguson and Howard Lederer.

June 1st - Phil Ivey sues Full Tilt poker in an effort to get out of his non-compete clause. It was reported by Wicked Chops that Ivey was particularly upset because he had brought in an investor that would have got FTP out of their financial mess but the deal was nixed by Bitar and Lederer.

June 26th - It's reported Phil Ivey is in Dublin meeting with FTP executives.

June 29th - Alderney Gambling Control Commission suspends FTP's gaming license and in effect shuts FTP down.

June 30th - Phil Ivey voluntarily dismisses his lawsuit against FTP.

July 1st - Todd terry files a class action lawsuit against FTP. (this date is approximate. Sorry for not being sure of exact date)

July 22nd - Poker News Daily reported that Phil Gordon was dismissed with prejudice from Todd Terry's class action lawsuit against FTP. Phil Gordon's attorney claimed he didn't take part in the day to day operations of FTP.

July 26th - As reported by Pokernews there was a hearing between FTP and the AGCC to determine whether FTP's gaming license should continue to be suspended. It was supposed to be a public hearing but in private lawyers for FTP asked for an application to adjourn the meeting until a later date which was granted. The new hearing date was set to be September 15th.

July 29th - Subjectpoker.com releases a statement talking about some of the financial dealings between David Benyamine, Phil Ivey and FTP.

July 29th - Mike Matusow does an interview with Quad Jacks and talks a bit about the FTP situation.

August 1st - As reported by Subject Poker the Kahnawake gaming commission agreed to renew FTP's secondary client provider authorization.

August 18th - As reported by Stayonpoker.com a second class action lawsuit against FTP has been filed by two Canadian players.

August 22nd - FTP's silence is finally broken when attorney Jeff Ifrah speaks out and gives some minor details about the FTP situation. Certain 2+2ers have spoken with him on the phone and been corresponding back and forth through emails with the attorney. Ifrah reported he was finally able to speak about the situation because an exclusivity agreement between a potential investor and FTP expired.

September 15th - Scheduled hearing date between FTP and the Alderney Gambling Control Commission to determine whether FTP's gaming license will be renewed and allowing them to again service non-US based customers.

I took no part in writing these cliffs. Thanks to EYESCREW, AnAnonymousCoward, and Prospace for providing cliffs. Please PM me if you think that something should be added or changed.

Some other containment threads and big threads that sorta acted like contaiment threads:

The Rules

This is where discussion about FTP should primarily take place. If you start another thread about a minor event or your views or whatever, it will be locked. (That's because a lot of people read NVG to read about high stakes action and tournament results and to see silly photoshops and stuff, and we need to respect that.)

If something significant happens, feel free to start a new thread.

A Warning

The last thread contained a ton of posts complaining about other people's posts. Someone would post their pessimistic views on the situation, and a bunch of people would respond telling him to shut up. Ditto optimistic views.

Stop doing that. Posts that tell other people not to post their views are not at all helpful. They're particularly silly when people are talking about their views on the FTP situation in a thread about the FTP situation. (If you don't want to read those views, don't open the thread.)

Hopefully people will just quit doing that on their own, but if it continues to clog the threads with content-less crap, I'll start deleting/warning/infracting.

08-31-2011 , 05:39 AM

#15

Bobo Fett

Carpe Diem

Join Date: May 2006 Posts: 57,426

http://www.forbes.com/sites/nathanva...-back-players/

"Full Tilt Poker Makes Its Case For Why It Has Been Unable to Pay Back Players"

Quote:

As is obvious from the events that have transpired since April 15th, Full Tilt Poker was not prepared for the far-reaching, US government enforcement effort of Black Friday.

The events of Black Friday came on the heels of prior government enforcement activities and significant theft. Over the two years preceding Black Friday, the US government seized approximately $115M of player funds located in U.S. banks. While we believed that offering peer-to-peer online poker did not violate any federal laws—a belief supported by many solid and well-reasoned legal opinions — the DOJ took a different view. In addition, as was widely reported, a key payment processor stole approximately $42M from Full Tilt Poker. Until April 15th, Full Tilt Poker had always covered these losses so that no player was ever affected. Finally, during late 2010 and early 2011, Full Tilt Poker experienced unprecedented issues with some of its third-party processors that greatly contributed to its financial problems. While the company was on its way to addressing the problems caused by these processors, Full Tilt Poker never anticipated that the DOJ would proceed as it did by seizing our global domain name and shutting down the site worldwide.

Over the last four months, Full Tilt Poker has been actively exploring opportunities with outside investors in order to stabilize the company and pay back our players. At least six of those groups, including hedge funds, operators of other internet businesses and individual investors, have visited Dublin to inspect the operation. We have recently engaged an additional financial advisor through an investment banking group to assist us in our search for an infusion of cash as well as a new management team to restore the site and repay players. While any deal of this nature is necessarily complex given the current regulatory environment, our players should know that Full Tilt Poker is fully committed to paying them back in full and restoring confidence in our operations.

09-29-2011 , 11:39 AM

#16

Mike Haven

Moderotor of Moderots

Join Date: Sep 2002 Posts: 14,616

Full Tilt Poker - Licences revoked 9/29/2011

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