http://www.rakeback.com/full-tilt-po...ce=Emailvision

The uncollected deposits of American players ($119 million allegedly) can't be collected by FTP because that would violate the UIGEA among other laws.

LOL do you really believe this is what has happened up till now itt? I think most guys have done pretty good in here at verifying/disqualifying the validity of sources...think most people would agree here.

Is the whole future of FTP still hinging on discussions between Tapie and the DOJ? When is this supposed to be happening/finalized? Do we have a date yet?

Basically. If these guys who deal in stressed companies don't like it, I don't think anyone will.
Exclusive negotiations until EOY I think

Thx I guess that explains that then and is self explanatory:-(

Great shame though:-(

Sure this has been pointed out before but I forgot the explanation:-( (I am getting old and forgetful)

Still this money obviously came out of Dividends as I believe FTP "Claimed" that they swallowed this credit shortfall and if they are to be believed (they never lie) could have paid themselves an extra $119 million in dividends had they not had to swallow it themsleves so they have lost out too.

I feel so sorry for them and obviously failed to see that they are the true victims in all this mess none of which was their fault in any shape or form.

(Does that make people happy out there with this blatant untruth I have just written?)

Hdemet,

have you purchased any FTP player balances?

No becasue I think that via an investor like Tapie they are worth 3 to 5c in the $ but without an investor are worth 50c in the $ and I would not want to take advantage of anyone.

I canot see any investor touching US debt whatsoever as it isnt worth it.

Plus theres a problem with drawing up legally enforceable contracts too

The real question is whether ach authorizations are legal debts, since FTP would need to sell them to a collection agency anyway. If they are, their might be some wiggle room since the debt collector is a non gambling business.


Answer to my own question, gambling is listed as a prohibited transaction by NACHA so they couldn't have collected regardless of UIGEA

INteresting to note that they may not be able to get away with it or that there may be a chance to reclaim some of it back by selling it off.

Has to worth exploration and someone may buy that debt as you say

They start negotiations last monday ( 7-8days ago ) it will take at least 2week's, so let's wait 5-10-15 more days and see what DoJ and Tapie figured out , ok ?
Patience is the key .... u waited 3+months few more week's is nothing :P

I guess in both interest's is to make some good deal .

Investors/DOJ are continuing negotiations today. Who knows when will that end...

Yeah, but looks like the scammers get a walk since the 'contract' was never legal.

I guess I would disagree that shareholders who weren't involved in any wrongdoing would have to pay back any percentage of those dividends that were received legitimately, i.e. paid out when FTP made enough profits to support those payments. Morally it seems like a good thing to pay back all the dividends that were paid when FTP was short in player funds. Besides this, I think you have to take into consideration that some might just don't have the ability to pay back any significant percentage of their received dividends without any ill intended actions that let to this. I guess their dividend payments were taxed (not sure if you can retrieve taxes.. it would surprise me), life expenses or w/e.. Furthermore it would surprise me if you knew exactly who of the shareholders offered to pay money back (for example to an investor).

To me it seems that for a person not directly involved with everything that's going on it's very hard to make accurate judgements about various things that you are very opinionated on.

In any case, I apologize for the Scott Matusow comment. -_-" That's probably not a fair comparison. I'm really not interested enough in this to be bothered writing more, so for now that's my last post.

No it wouldn't - the uigea only covers illegal gaming which poker isn't. The whole mastercard case was about deadbeat americans trying to avoid paying their debts and the court told them to gtfo. FTP will likely sell the debts anyway and the collection agency will make sure that the credit records show these people for what they are.

Then why haven't they already sold the debts?

it is still rumor but it is getting a little bit close to true...

http://gaming-awards.com/NEWS/332/fu...ng-almost-gone

gaming-awards.com does NOT sound like a site dedicated to professional poker. not clicking that.

Great article. Very well written

Jeff already denied this!

You guys that take everything Jeffy says as gospel are cute.

I know this is just a rumor, but when someone yells fire I always assume they at least saw some smoke.

We know the deal isn't 'dead' if we believe Ifrah, but it scares me that the concern isn't about the DOJ or Tapie having the money, lawsuits etc.

All these rumor reports indicate that FTP can't get 66% of these crooks to give up their company.

I mean, I can understand being pissed at Bitar or whatever, but they aren't just screwing him by not signing this - they are screwing us.

What's Kevmodes take on all this stuff. I , for one, would like an unbiased opinion on what's likely to happen next!

i doubt it is people in ftp just saying no to any deal.

this tapie guy is probably lowballing them like crazy and probably trying to not pay any doj fines.

you cant really believe any news from any source at this point because they can all be using news as bargaining tools.

like when the doj released that news that full tilt was a ponzi scheme. it obviously had some purpose to them. showing full tilt how much power they have.

Noah while I do respect everything you're doing with regards to the FTP mess, please stop making posts like the one above. This frustrates the hell out of me, and probably lots of other people with money on FTP will feel the same way.

You're clearly withholding information for reasons I can only guess, but please be aware what these ''look i know more, but hey im not gonna tell you anything''-posts will do to people who are allready stressed to the maximum because of this ongoing emotional rollercoaster.


Dont make us guess what your post means ...... just explain it clearly or don't post at all. (and off course I prefer the first option !)