FTP and GBT reach agreement - Page 4 - Poker News

So let's assume that the best case scenario plays out and FTP is able to pay back US players. Do we have any assurance that our old account balances are still on file? I know some people have talked about collecting screenshots, etc. but I can't see that as being viable proof since Photoshop is so easy to use.

Are we just supposed to hope that in the huge cluster**** of accounting problems that they have our balances correctly on file?

12-15-2011 , 02:16 PM

#79

shiish

adept

Join Date: Sep 2007 Posts: 878

hollaaaaa

12-15-2011 , 02:17 PM

#80

DatSik

enthusiast

Join Date: Sep 2011 Posts: 70

Quote:

Originally Posted by word1985

There's no reason why the database at shutdown should be in any different state now. I would hope they have backups of the backups too. Pretty sure this wont be an issue.

12-15-2011 , 02:28 PM

#81

fraleyight

Carpal \'Tunnel

Join Date: Apr 2010 Posts: 13,384

CAN I GET MY FREAKING KNOCK OUT A PRO SHIRT NOW!!!!!!!!!!!!!!

WHOS WITH ME?

12-15-2011 , 02:29 PM

#82

LegallyBlind

Pooh-Bah

Join Date: Jan 2006 Posts: 4,073

Quote:

Originally Posted by yesright

You are clearly the king of quoting people out of context.

Obviously nobody said anything about a 5X rollover, as I made it up based on the fact that GBT made phone calls asking if players would take a % of their balance for an early payout.

here is my quote

How is that NOT obvious that I am not suggesting this is indeed the case but of course the great Diamond flush suggests its some exact fact that I am quoting........ good grief.

You are either agenda driven or naive in the extreme.

My point is...... will players be able to withdraw THEIR balances without any kind of penalty or roll over?

Lets wait and see on that point.........

As for FTP........ you are right......... they have been amazingly fast...... their lawyers have been incredible....... what an amazing ethical organisation.

If only every company ran like FTP the world would be better place.

hey there champ, how bout taking the next couple plays off

12-15-2011 , 02:29 PM

#83

NexusWR

grinder

Join Date: Feb 2009 Posts: 599

Quote:

Originally Posted by Diamond_Flush

Not to be rude, but in what world is taking every single thing one owns, every $, every computer, every piece of intellectual property, software, every damn paper clip, etc etc, amount to a slap on the wrist?

Stars still faces the same charges against their company as before, so does AP/UB. I am pretty sure that if they wanted to give up everything, like FTP did, the DOJ would dismiss against them as well. We all know that isnt going to happen, but make no mistake, this was no slap on the wrist.

That should just be the beginning. FTP was just the vehicle for a crime to take place. Giving it up should be one punitive measure of many.

Confiscation of an asset that allowed you to defraud people is common, and common sense. I would expect much more in the form of punishment.

You are wrong with your assertion that the punishment you describe fits the crime.

12-15-2011 , 02:32 PM

#84

5-Ton Hammer

journeyman

Join Date: Jul 2010 Posts: 360

FIRST PAGE ON EPIC THREAD!!!!

WOOOHOOOO

12-15-2011 , 02:35 PM

#85

mattb7755

adept

Join Date: Sep 2009 Posts: 769

finally!!!!!

12-15-2011 , 02:36 PM

#86

IseizeDeadMonies

banned

Join Date: Oct 2011 Posts: 149

Oh man......for some crazy reason, I dont think Ill be seeing my $50 any time soon.

And I just want to play not withdraw.

12-15-2011 , 02:38 PM

#87

Synergistic Explosions

Pooh-Bah

Join Date: Jun 2004 Posts: 4,170

Thanks DOJ, now go after the freeloaders fast forwarding through TV commercials.

12-15-2011 , 02:38 PM

#88

vamooose

old hand

Join Date: Jan 2010 Posts: 1,309

Quote:

Originally Posted by Diamond_Flush

The DOJ never claimed to be after $3 billion from FTP, and this agreement refers to FTP only. Any and all charges/claims against every other company, entity or individual is still pending litigation.

"FT" just agreed to forfeit every damn thing they have. I doubt that they would agree its lol @ DOJ.

Full Tilt is the parent company...what, if any, are the other claims against companies?

For example, are you suggesting that a civil claim could still be brought against Vantage Ltd, Orinic Limited etc by a US citizen?? I suspect you are referring to My West Nook but it should be made clear to players, US and ROW, that the terms DoJ have surrendered to include 'no lawsuits re US player funds against FTP group of Companies' if this is the case.

Suppose I may be nitpicking but there are US players who believe that if the DoJ terms aren't good enough, they'll sue FTP after GBT takes the helm

thanks

Last edited by vamooose; 12-15-2011 at 02:48 PM.

12-15-2011 , 02:40 PM

#89

DiCanio

newbie

Join Date: Nov 2011 Posts: 47

Lets say this deal gets throught and everyone gets paid, does this mean that the money howard/jesus/bitar etc get away with the money they still have?

12-15-2011 , 02:46 PM

#90

thebottomline

enthusiast

Join Date: Jul 2007 Posts: 69

Quote:

Originally Posted by yesright

Re-read your first line, and then your last two sentences...

12-15-2011 , 02:47 PM

#91

Noobie Newbertson

adept

Join Date: Feb 2011 Posts: 819

Quote:

Originally Posted by word1985

Yeah and a lot of people, myself included, have/had funds in limbo after attempting to cash out pre BF. All we've been able to do since BF is hope, prepare for the worst and hope for the best.

12-15-2011 , 02:48 PM

#92

tamiller866

Pooh-Bah

Join Date: Oct 2008 Posts: 3,651

Quote:

The next key step will be for the actual forfeiture(s) to the DOJ, and the DOJ’s dismissal of the civil charges against the FTP companies.2 It is believed that these steps will take place shortly.

Unless Ferguson has dropped his individual claim on these assets http://docs.justia.com/cases/federal...64/377900/126/ this agreement is effectively meaningless.

The next step has been the actual forfeitures for a month and it was always Ferguson that would be holding it up, the majority of the LLC agreeing to the forfeiture (unlike a sale) does little but give people false hope.

12-15-2011 , 02:51 PM

#93

vamooose

old hand

Join Date: Jan 2010 Posts: 1,309

Quote:

Originally Posted by tamiller866

Surely the DoJ will now be handling Mr Ferguson's claim?

(DoJ take ownership of FTP and therefore claim when forfeited, DoJ sell FTP whilst still assuming liability for the claim, DoJ use unique negotiation skills to ensure Ferguson claim is dropped...and if Tapie has a brain, which he has, the likelihood of any future US player claim for funds against FTP group of companies)

Last edited by vamooose; 12-15-2011 at 02:57 PM.

12-15-2011 , 02:52 PM

#94

RollWave

Carpal \'Tunnel

Join Date: Nov 2007 Posts: 12,570

Quote:

Originally Posted by Diamond_Flush

I'm not sure the last time was when I was accused of being coy, but lets call it careful instead.
Look, I could tell you it might happen in 3 days, but then when it takes 2 weeks instead, I am accused of not being honest. If I say a month, and it happens in 3 days, I look like I just took a guess out of thin air. Its a no-win really.
...
I can tell you that it could happen in a week or two. Factor in the holidays, could be a little longer. Remember there are additional steps to happen after this, but make no mistake, todays report is HUGE.

ok, so the "it is believed..." in the article was referring to yourself

and "shortly" is a word you use to describe something that could take place within several weeks.

I think this part of your article was ambiguous. There was no way to tell who you were referring to that 'believed' and what that person's definition of 'shortly' might be. thank you for the clarification.

12-15-2011 , 02:57 PM

#95

Barry Champlain

grinder

Join Date: May 2011 Posts: 692

Quote:

Originally Posted by MICK E JUICE

Cheers for your efforts DF and all you guys at SP

this

12-15-2011 , 03:03 PM

#96

ZeeJustin

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 7,064

Possibly a stupid question but:

The latest Subject Poker article technically doesn't mention an agreement of sale of FTP to GBT.

Obviously it mentions asset transfers, so should I be assuming the sale agreement has been signed already?

I'm assuming the acquisition agreement from weeks ago basically locked FTP into a sale pending the GBT : DoJ agreement that has now already happened, therefore FTP signing the terms of sale was a foregone conclusion and didn't make an SP headline. Is that accurate?

12-15-2011 , 03:04 PM

#97

RAZZ PRO A2345

adept

Join Date: Jul 2009 Posts: 1,134

so booked

12-15-2011 , 03:05 PM

#98

HIhater

centurion

Join Date: Nov 2010 Posts: 102

So the DOJ is dropping charges against FTP?

12-15-2011 , 03:08 PM

#99

SGT RJ

Twitching

Join Date: Feb 2009 Posts: 49,109

Quote:

Originally Posted by HIhater

So the DOJ is dropping charges against FTP?

The civil complaints against the companies comprising FTP will be settled.

The charges against individuals will not.

That's my understanding, anyway.

12-15-2011 , 03:09 PM

#100

elstunar

veteran

Join Date: Oct 2005 Posts: 2,732

Quote:

Originally Posted by ZeeJustin

i dont think ftp is actually selling to gbt...i think 1) FTP forfeits assets to DOJ, then 2) DOJ sells assets to GBT. at least that's what i've gathered from all this mess

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