Cereus Plans to Liquidate Assets, Repay Players - Page 4 - Poker News

I also do not know about the propriety of the government seizing funds before players get paid back. Remember, we were not doing anything illegal by playing on the sites or having our money on there. So seizing player funds would seem to me to be an unlawful seizure of our property by the government.

I agree with this but I don't think it matters much in this case. As online gamblers we're ranked slightly above the guy dealing crack on the school playground. I really doubt the DOJ is going to be doing us any favors on this one. I want this to work as much as anyone but the way past government seizures and online poker site liquidations have gone it's not looking good for us.

10-29-2011 , 12:31 PM

#77

norway20188888

grinder

Join Date: Jun 2010 Posts: 424

fwiw the indian owners have way enough to repay players

10-29-2011 , 12:39 PM

#78

ICUScoobyDoo

grinder

Join Date: Oct 2011 Posts: 442

Uhhhh why am I a full tilt player???? Congrats cereus players

10-29-2011 , 01:09 PM

#79

RedManPlus

banned

Join Date: Apr 2005 Posts: 2,169

Quote:

Originally Posted by teddyFBI

Nowhere in the article does it say anything about the DOJ being part of any negotiations. Cereus just says they've submitted a plan to repay players to the DOJ...sounds to me like a classic ploy to shift the blame to DOJ...expect a Cereus press release in the future that says "sry, we submitted a plan to have you players repaid but the DOJ wouldn't get on board, too bad so sad gg."

At least there's finally some realism here...
The ONLY way Customers get seized money is via "remission"...
AFTER "successful conclusion of litigation".

Southern District Press Release (Oct 2011)

http://www.justice.gov/usao/nys/pokerstars.html

28 C.F.R. PART 9
REGULATIONS GOVERNING THE REMISSION OR MITIGATION OF CIVIL AND CRIMINAL FORFEITURES

http://law.justia.com/cfr/title28/28-1.0.1.1.10.html

In the the context of US law...
Everything put forth by FTP, Phil Ivey, Tapie, Cereus, etc...
Is a pure publicity stunt...
To buy time, build criminal defense, get free publicity, etc...
And poker "news sites" are running it like "news"...
In order to get thousands of clicks from desperados.

You guys are being hustled by everyone listed above...
The victims of Team FTP continue to be played for fools.

10-29-2011 , 03:22 PM

#80

Klakteuh

banned

Join Date: Oct 2011 Posts: 1,975

Well thats very surprising and good news for UB/AP players. You can now deposit it on FT and play there ! Oh wait...

10-29-2011 , 07:13 PM

#81

hoopaloopa

old hand

Join Date: Dec 2009 Posts: 1,277

One time Cereus!!

10-29-2011 , 07:41 PM

#82

meltdowncity

adept

Join Date: Aug 2010 Posts: 966

Quote:

Originally Posted by jweez

Unless the DOJ releases some seized funds, wouldn't the Cereus assets be probably pennies on the dollar of player balances? I could be completely wrong, I don't know anything about the Cereus situation.

thanks for taking the time to contribute. God i hate posts like this so much

10-29-2011 , 10:39 PM

#83

bdiddy131313

veteran

Join Date: Mar 2010 Posts: 2,609

At this time we do not have any further information regarding player balances or withdrawals. The KGC continues to monitor the situation and work towards a financially beneficial solution for all players but is unable to address concerns about specific player balances or withdrawals at this time.

You can view the latest KGC Advisory relating to the Blanca situation at: http://www.gamingcommission.ca/news/pr10272011a.pdf Further advisories will be posted on the KGC’s site as new information becomes available.

We appreciate your continued patience and support.

10-30-2011 , 08:27 AM

#84

georgebushda3rd

banned

Join Date: Aug 2011 Posts: 634

Quote:

Originally Posted by TheRuffian

......or Party. As I now play fulltime on Party, I can really appreciate how good UB/Cereus software is as I got more disconnections in the first few days on Party than in 5 years on UB. I preferred UBs to FT but rarely played on Stars enough to compare.
Regarding the statement I'll leave that to guys a lot more legally minded than me who already posted but it makes very interesting reading all your analysis.

Watch out for the cheaters/colluders!!

10-30-2011 , 04:08 PM

#85

mrmixitup

grinder

Join Date: Jan 2009 Posts: 557

Who was stupid enough to still have money on there after the Russ Hamilton scandal?

10-30-2011 , 04:12 PM

#86

LT22

Carpal \'Tunnel

Join Date: Aug 2007 Posts: 12,842

Quote:

Originally Posted by mrmixitup

Who was stupid enough to still have money on there after the Russ Hamilton scandal?

who is stupid enough to post something this stupid? obv you

I don't have all my hands imported to HEM at the moment, but I guarantee you I made a lot more off Cereus than the bankroll I lost on April 15th. I know this might be hard to believe, but some people actually cash out winnings from poker sites!

10-30-2011 , 08:36 PM

#87

hoopaloopa

old hand

Join Date: Dec 2009 Posts: 1,277

Quote:

Originally Posted by LT22

100% this.

10-30-2011 , 08:42 PM

#88

meltdowncity

adept

Join Date: Aug 2010 Posts: 966

Quote:

Originally Posted by LT22

I'll say it now because it looks like the site is ****ed anyway, otherwise I wouldnt be because I like money, but all of you who didnt play on UB because of the Russ H scandal are the ones who are idiots.

10-30-2011 , 11:25 PM

#89

3 Bullits

grinder

Join Date: May 2011 Posts: 417

Quote:

Originally Posted by LT22

Quote:

Originally Posted by hoopaloopa

100% this.

Add to ignore list, mrmixitup is a known troll.

10-31-2011 , 03:25 AM

#90

wems

old hand

Join Date: Dec 2006 Posts: 1,853

Quote:

Originally Posted by the1macdaddy

If UB pays out before FT; then there is something wrong with the world

lol funny the reason I played on AP/UB instead of FTP was because I thought FTP was complete ****. Their support was absolutely horrible.

AP/UB had amazing support. Almost as good as Stars if not just as good.
AP/UB paid me my withdrawals in under a week. Did FTP ever do that? (maybe they did but I doubt it)

and you are surprised that AP/UB is going to pay out first and FTP might not ever pay out? I'm certainly not surprised.

With that being said I hope everyone gets their money back from AP and FTP and all of this can be resolved soon for everyone who is missing money

Last edited by wems; 10-31-2011 at 03:33 AM.

10-31-2011 , 04:12 AM

#91

NoahSD

Is Right

Join Date: Aug 2005 Posts: 18,843

Hang on a second. Did someone say that AP has a spokesman?

10-31-2011 , 04:26 AM

#92

ike

Pooh-Bah

Join Date: Jan 2004 Posts: 5,635

Quote:

Originally Posted by NoahSD

Hang on a second. Did someone say that AP has a spokesman?

Ok, I admit it. I've just been prank calling poker journalists.

10-31-2011 , 04:34 AM

#93

bemcd

adept

Join Date: Feb 2009 Posts: 826

this guy

10-31-2011 , 05:34 AM

#94

Gregg777

veteran

Join Date: Aug 2004 Posts: 2,952

Quote:

Originally Posted by WutRUTryin2Hit

I cannot imagine how the ClubWPT software could possibly be worth even REMOTELY close to $40million. That is a bizarre number to throw out.

Was about to post the same thing.

Absolutely no way...

10-31-2011 , 09:54 AM

#95

(._X)0---(^_^)

banned

Join Date: Jun 2011 Posts: 656

Quote:

Originally Posted by wems

funny bs story brah.

Everyone i know who played on UB 1/2 to 5/10 are now losing on every other site or at best breaking even.

10-31-2011 , 10:27 AM

#96

Make_it_rain187

journeyman

Join Date: Sep 2010 Posts: 258

So it looks like if this liquidation goes thro best case scenario would be players get a decent % ( certaintly not 100%) and it's gonna be a lengthy court process before we see a dime potentially 1 year min. So aka this is potentially the worst news possible, at least they were paying slowly before fml. An with that my roll is officially for sale pm me w offers