Whatever that means...

What does this have to do with a revoked license? If they wanted to do that, they could do it right now, no? Surely no one at FTP expects the site to actually ever run again (in its current state)?

Secondly, how would they process those withdrawals (390M owed) with 6M available? Even if the owners kick in, I doubt this so called 'fund' would be over 50M. So they pay everyone 10c/$? First come first serve? I don't see how this would work.

Such a fund is a last minute solution, and it should be thought of, but it should only become concrete when talking about bankrupcy, DOJ fines, going after owner funds etc but not yet IMO.

Maybe I just overestimate the chances of investment though.

I would love to have a statement or an opinion from one free depositor...
As a European FT player i would like to ask you guys;

a) no one ever posted hey FT is free depositing me? or thought that was not anything wrong with that all this time?

b) how far the rabbit whole went? I mean any of you guys had like 10000$ into FT and never gone off his bank account?

c) How the hell was this going on for so long time and there wasn't even one American stating that?

d) to all the FT pros who got an open loan from FT and took it back to the tables... Really great job guys ( i think i can beat anyone in the f world playing flips in PLO 100-200+, borrowing and playing again and again when loosing and of course withdrawing when winning) sounds like unlimited BR to me...
oh la la yeah that's poker


PS: I just loved FT, was my fav site for years... still cant believe how bad this... i will never ever underestimate human greed again...

multiple ppl repeadetly reported that money was not taken from their bank accounts, it was known.

What are the rumors about who the investor was that had the exclusive two month deal and Ivey sued about etc?

http://forumserver.twoplustwo.com/28...advice-954451/

There`s one fundamental thing I don`t understand, and I´d really like an answer to that: How can crediting players money without being able to collect it ever create a hole? Seems like everyone (including durrrr) thinks that this + the DOJ seizure were the main reasons for the almost 300M hole in FTP`s balance sheet. It`s not like FTP has to pay back players whose bank accounts were never debited, right? Although these player accounts (on FTP) represent outstanding debt, the same amount (or actually less because they played with the money and got raked) shows up on the asset side as well, since it represents outstanding receivables.

edit: I actually realized that if FTP were dumb enough to allow these players to cashout, then this obv can create a hole. Was this really the case?

ok..my fault not following 2+2... but what can i say this is f ridiculous.... idont even the have the words for it...

freerolling thousands... and kept this for months.. ok.. i think in the end, everyone wil get what he deserved... i hope...

I'm embarrassed that Americans did this to you. Owner and player greed ran wild and the rest of the world was the victim...

Fwiw I can assure you most Americans are good people and wouldn't think to take advantage of a situation like this but unfortunately it doesn't take many to **** things up for everybody.

Good luck getting your money back sir and good luck finding a new site to play on.

not them in particular, but the ppl who won the money from them...

http://forumserver.twoplustwo.com/28...advice-954451/

http://forumserver.twoplustwo.com/57...-what-1085597/

Apparently FTP really were insane enough to allow these people to cash out before their deposits had cleared. Also a good number of them either lost money to legit players, dumped money to friends, or did site transfers. The level of stupidity in the decision to credit accounts without receiving deposits is mind boggling.

The terms of the current suspended licence are that no deposits or withdrawals cn be made.

But if a new investor comes in and depsouits the 300 million why shouldnt they pay it out before they are allowed to reopen? That way players get their money back and then choose to redeposit if they so wish

Have a default of all players will be paid back unless they ask for it to be left on the site rtaher than the other way around

jesus... I thought ppl would at least have to LOOSE the money first before somebody would withdraw it... how were they even able to fill out the incorporation papers when they got started???

Why would you have to pay out before you reopen? having the funds on a segregated account should be enough, withdrawals could then be made over the normal course of busines...

Not tht any repayment is likely to happen but...I agree having the money in a seggreagted account should be enough but a gesture further along the line would be better in order to rebuild trust.

If those suspected of investing are the ones named previously they have a suspicious past so it could well be in their own bets interests to state everyone who wants their money can have it prior to them reopening

After all reopening is going to take a minimum of four weeks I would guess as it isnt like turning a switch as new staff have tobe hired and new management put in place and debts to the company collected and sorting out which pros should remain on the books and affiliates etc etc etc

Personaly if they doo commit to any kind of deal I cant see it involving repaying US players even if JI does claim it covers repaying all player funds or was it just player funds?

Actually the wording is if the deal is done it will include a repayment of player funds....wonder what that acrtually means???? All or Partial money owed to everyone? All o Players or just RoW players?

I'm sure the DOJ is going to take it nice and easy on them if they put together a deal where the new buyers completely leave out US players. I would guess that there's less than a 1% chance of a deal being possible that involves US players being left out.

Any deal that doesn't guarantee 100% payout will just get blocked guys, it's that simple.

Obviously if the DoJ are involved a deal will not happen without US player repayment but when and if this deal falls through all that is left is to sell assets of the company and US player liabilites are negative assets and as such not wanted and will not be paid for.

Currently the Doj and AGCC are involved but its not too far off now when FTP officially dies and with that goes all US liability be it player or DoJ. That liability will then be assumed totally by the old existing FTP and owners and management

The most likely new full tilt will in essence be a new company with RoW players and no US players and no US liabilities to the DoJ or the US players

I'm sure this has been said and I don't mean offense, but Harry you went from an interesting source to a regular NVGer pretty quickly.

And without a deal all that is left is nothing for the DoJ and US players and possibly RoW players too but a new FTP may deal with RoW players by honouring their current balances against rake or whatever or maybe even pay them or whatever in order to keep them. But all this is post any investor and after the current ftp officially goes broke.

All thsoe liabilities will fall on the current owners and management and not any new owners afte this FTP dies

Howver I guess with The DoJ clout they may get money for any FTP assets like the US database from a US opertor like Harrahs in the future and charge a non US person something for the dsoftware and RoW database as maybe they have first claims on any assets due to the indictments.

We'll juts have to wait and see.

Well currently I ahve nothign better to do on the net as I am trying to win the monster Jackpot pool at Newmarket today...hence the high frequency of posts at present today/tonight or whatevr time it is

3rd leg coming up

Just got knocked out in thrid leg so am out and can go to sleep now so you can be reassured I will return to a quiet period again

Off to bed so very little from me from now on until somehting significant happens

If you are a fan of the doj, or you believe the doj wants players paid back, then it is reasonable to read the amended civil complaint as the doj trying to facilitate a deal between ft and the investor. The amended complaint says to lederer, first and ferguson, "don't get attached to the money you made from full tilt--you're not keeping it under any circumstances." the ponzi scheme language in the press release says the same thing to shareholders.

So if the doj sued me for my personal wealth while a deal was pending that could solve the whole cluster ****, pretty much the first offer I would make to doj would be to ask them to settle in exchange for me replacing x million in the company to help get the deal done.

Not saying this WAS doj's plan, but the amended complaint and the press release definitely put all the owners on notice that they are likely to be parting with their money in some way.

---------------
Separate subject: AGCC's smart play is to delay a decision until October 1. It operates as an extension, but without granting full tilt another hearing date. So if october rolls around and a closing date is set, agcc can do an extension. If not, they can issue a revocation order.

No idea on what agcc will actually do, but delaying the decision would be an elegant way of keeping the deal alive and FT on a very short leash.

http://pokercast.twoplustwo.com/

New pokercast special, with Noah talking about ftp

Why is Oct 1 special? Is there any reason the AGCC can't delay indefinitely?