WTF? Does the DOJ also have to issue a formal statement that we will be paid in dollars instead of shekels, and that by "remission" they aren't referring to the fact that only cancer patients will be eligible for compensation?

The PPA better start advocating for clarity on those issues as well. In the meantime, it's obviously balances they are talking about (for those who aren't completely brain-dead) for the dozens of reasons that have already been explained dozens of times each, or else basically nothing they have said or done would make any sense at all.

I agree with you that the DOJ is not going to handle the remissions process in a way that it thinks would be illegal. That being said, even within the bounds of the law, there are some aspects of this case that are going to require the DOJ and the claims administrator to make judgment calls and set up rules that apply to everyone that tries to make a claim for remission. In the process of making these rules, it is conceivable that the claims administrator calculates a remissions figure for some high balance player that is much lower than the amount the player thought they were going to get back and the player might decide to challenge the claims administrator's determination.

Now, again, since I'm not an expert on the remissions process, I'm not sure that I can come up with a great hypothetical scenario in which this would arise, but it's not completely unreasonable to think that it might happen and that the player would then hire a lawyer to look into the remissions process to see if there was anything in the remissions law that would allow them to recover more money than the initial amount.

Anyway, this is all speculation at this point, and I don't think high rollers or anyone else for that matter needs to worry about running out and hiring a lawyer until we get more details about the remissions process and, in particular, we see how simple or complex the application is.

hahahaha.

God things have been different since they legalized pot.

Ok so this thread is always an unbearable concoction of frustration and disgust that I cant drink down anymore.. I cant even muster the courage to read any of it looking for answers.

I assume there has been zero progress?

Remember, Remission does not mean Refund. The DOJ has stated that there will be some form of payment made to those who are "Victims". This makes perfect sense, and this is why they have used the language they have used.

It is likely that if you were a winning player, or were involved in receiving transfers from other players, that you will get nothing.

Let's say that you think you have 18K in your account. Lettuce also say that one of your friends (money launderer) transferred 20K to you over the years. Lettuce also say that you were also a winning player.

In this case you should get zero, and you should feel very very fortunate that you do not have to pay the DOJ. This would be a clawback of illicit gains from said Ponzi Scheme. They made the Madoff net winners pay back.

Keep your fingers crossed. Lettuce see what the next twist in the wind brings. I hope you have money saved if they asked for clawback monies. Be happy that you will get zero. If you were caught up with Bernie Madoff instead Howie Lederer you would be paying back illicit gains.

Let us also assume that you, dreddy, have no stake it this thing.

Your post adds absolutely nothing to this discussion but a load of BS.

If the DoJ didn't intend US players to get their balances in the remission, they would never have insisted that PS do full balance payment to the ROW players.

There may or may not be adjustments made for things like questionable transfers and phantom deposits. We shall see, lettuce (sic) wait and see.

I have no stake in this operation, either.

Sure, I'll take a look. I'm playing all this weekend, but I'll get back with you sometime Monday.

Certainly if the DOJ intends paying back balances, but short changes someone, hiring a lawyer would be reasonable. If instead the DOJ intends paying back only deposits, then I assume we are screwed--because I don't expect the DOJ to take that line unless it's a slam dunk.

The Justice Department would look terrible if they took the deposit-line, and lost, because it would seem like they were angleshooting American 'victims'.

I do think we're screwed if the DOJ takes that line, but would be heroically suprised if they did take that line.

Thanks, I don't consider the PPA perfect or faultless always, but I sure do think you are interested in getting the best deal possible for the stiffed FTP players in the USA and some kind of online poker going as soon as practical. Good luck to you and all of us!

**** our lives

I dont have to support what you think the DOJ gonna do. I got my own opinons,on what i hope the DOJ will do about DEPOSITS or BALANCES. I believe the hole FTP site was a ponzi sceme just what the DOJ thinks,

Edit. Double post

I love how all the fish/losing players are getting so excited about this deposit vs balance thing. I can't wait to finally get my (your) money back.

Yes, lettuce see what happens. I relish the outcome.

Sooner or later the facts will ketchup with him.

Most likely those bastards at the DOJ will require me to remember my password and those three ****ing security cards! FML!

Cro

I ghess you just have to present your case why you deserve your money back . IM just agreeing with the DOJ that it was a so many problems going on with FTP and so many scams happening and they even said it was a ponzi sceme? best of luck to every one.

Just quoting your post to pick one to respond to, so not picking on you antneye, but this thinking is a bit flawed.

The DOJ does not owe players more. They are paying claims out of pool of money from a settlement with Pokerstars/Full Tilt. If they choose to pay deposits and its more than the pot of money for paying out settlements they will just pro-rate it and pay everyone back a % of deposits.

No, anyone who thinks the DOJ would pay back "original" deposits or a pro-rated "original" deposit is flawed. The precedent has been set. When Stars shut down after Black Friday, they were allowed to pay us back. With what you ask? ACCOUNT balances. Full Tilt was also given a chance to pay back "account balances" but couldn't/didn't/wouldn't.

After the settlement with DOJ/Stars/Tilt, ROW gets back ... anyone? anyone? anyone? Account balances? That's right.

It makes no sense to give back original player "deposits". It would be inconsistent with how the DOJ has behaved. It would be inconsistent with common sense. It would be inconsistent with logic.

This talk has been and always will be a last beacon of desperation with losing players, fishes, and trolls.

I think the problem (other than trolls, fishes, and losing players) is that "deposits" in DOJ/lawyer/poker land is used to describe account balances. Just like at a bank, you deposit money, but your savings account with grow. They still consider that your deposit - the full amount, not just your original deposit.

Again, use common sense, people. I'm not saying we will get back our full account balances or what %, if any. I'm just saying that there is no scenario where getting back "original" deposits versus last known account balance makes any sense.

phatty, ovious the doj think the pokerstars and fulltilt are very differnt cases or they just would of let pokerstars pay out fulltilt players when they reopened,for some reason we all dont know is why the DOJ wants to pay the players back, it was part of the purchase of fulltilt? no body knows players , ppa, i dont think at this point the DOJ dont know, so all you people who are calling people fish because you guys won on the site you could get a big surprize yourself. Be respectfull just because people dont agree with you genius.

You mustard dug deep into your bag of puns for that one.

Wrong.

This was all a complete ponzi scheme in DOJ's eyes.

They could care less about winnings and losings or what PS did with rest of the world. PS could pay 10x people's balances and it would have no influence on how they will handle US victims.

I guarantee some lawyer will make a great case that their client who lost $100,000 is a victim as well and deserves to be compensated. They will cite precedents and I am sure there are many.

And the other thing I guarantee is that whatever solution is ultimately determined, the process of determining victims will take a lot of time because it is not so clear cut.

The "ponzi" aspect did not contribute to the likely hood of somebody losing at poker. It contributed to not being able to withdraw the money people had on deposit, that is their balances.

The person who lost the 100k was a victim of better players and/or his denial of reality, he wasn't the victim of FT not having enough money to pay the money in players' accounts beyond what was in it on BF.

Maybe someone will ask for compensation because they lost their job because they didn't make it to work because they were up all night playing on FT. I am sure someone will ask for compensation because FT was rigged.

This is so sad we should have had our $$$ by now but we're just left waiting hoping we can just file in january.

You had real money playing against play money. That isn't an equal game. The value of the chips aren't the same. The owners of this were also players taking advantage of this.

Not as cut and dry as many think.