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Response regarding money I owe to Full Tilt Response regarding money I owe to Full Tilt

02-02-2012 , 07:02 PM
I have been inundated with calls from all the poker media sites regarding this, so it's easier for me to respond in one place. Obviously, 2+2 has become the main place where people discuss online poker so I'm posting here. It would be nice if everyone who owes money discusses it openly so there is a better chance that they will make good on their debts and the money will end up in the pockets of players with balances on FTP.

My statement to the press and the poker community:

I borrowed $400,000 to play on Full Tilt a few years ago, before PokerStars had high stakes games. I didnít pay it back, hoping that some people who owed me and had money on Full Tilt would pay me there so I could use that against the debt. (I'm only owed about $150,000 now). I have assumed when this case is resolved, the DOJ will allow methods for dealing with debt to FTP.

Tapie Group contacted me last week and asked if I would pay them directly. Their attorney offered me the opportunity to pay in installments so I could have a chance to use money owed to me. He even offered me the opportunity to discount my debt if the US players donít get paid in full. I told him that I have never paid less than I owe on any debt and I would rather wait until the DOJ establishes a fund for the US players. I don't believe my debt has any impact on the sale to the Tapie group as they have alleged. I was concerned about taking money due to US players and giving it to the Tapie Group because it is understood that the Tapie Group won't be the one paying the US players. On the other hand, I realize that the total debt counting other players is substantial, especially because I would include in that tally any money taken from FTP once it had become insolvent.

Here is an excerpt from the letter I sent to their attorney:

ďThe consensus in the poker community is that all money owed to Full Tilt or taken by investors after the company became insolvent should be used to pay back playerís funds. If I were to make a deal with you it would look like I had turned my back on the best interests of the American players.

Even though the terms are easier for me if I deal with you and it will fulfill my legal obligation, I have to see how things work out with the DOJ and try to make good on my moral obligation to the US players. I assume at some time in the future the DOJ will establish a pool of funds from Full Tiltís assets that will be used to pay off some percentage of the player balances that are owed.Ē
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:05 PM
You can pay me directly, barry. FT owes me money.
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:05 PM
lol donkaments

edit: damn thought i might be first post

gl barryg1
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:05 PM
well said Mr Greenstein
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:06 PM
You say you're still owed $150,000 but how much do you still owe FTP?
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:07 PM
Quote:
Originally Posted by Doc T River
You say you're still owed $150,000 but how much do you still owe FTP?
He said in the post that it's $400k.

FWIW, I have it listed as $390k.
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:08 PM
respect for barry
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:08 PM
Quote:
Originally Posted by NoahSD
He said in the post that it's $400k.

FWIW, I have it listed as $390k.
I know he said $400,00 but then he brought up the fact he is still owed $150,000 implying that he had paid back $250,000.
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:09 PM
Where is Ivey and the others. The least they can do is respond in some way.
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:09 PM
can you put it in escrow somehow?

make it so tapie group automatically receives the funds through a wire of some sort on the consensus that US and ROW players are paid

would resolve the issue imo
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:10 PM
I think he meant he only owes 150K now.
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02-02-2012 , 07:12 PM
why are you only worried about the US players getting paid what about the ROW players
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:12 PM
So I presume that Tapie wants the money back, but didnt give a framework as to how that money would be used.

Further, if Tapie explicitly wrote that the money would be solely used towards repayment of players, am I to correctly assume that Barry G wouldve written the check a long time ago?
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:12 PM
Quote:
Originally Posted by Doc T River
I know he said $400,00 but then he brought up the fact he is still owed $150,000 implying that he had paid back $250,000.
Don't think that's what he meant. I think he still owes 400k but in turn is owed $150k by others
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:14 PM
jesus people, its pretty clear the man said $400K and didnt pay it back yet since he anticipated people who owed him, and had money on Tilt might ship it there to which he could apply towards the debt
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:14 PM
Quote:
Originally Posted by NoahSD
He said in the post that it's $400k.

FWIW, I have it listed as $390k.
If Tapie says that the money will be used to pay back players, don't you think it would be time that all of us know exactly who owes what?
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:14 PM
rollers gonna roll. Hope they get re payed quickly.
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02-02-2012 , 07:15 PM
I think he means someone on Fulltilt owed him 400k that he hoped to receive and pay the debt with that, but now he's only owed 150k by that person.
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02-02-2012 , 07:15 PM
barry admitted he borrowed the money. Why shouldnt he have to pay it back regardless of how tapie uses the money
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:16 PM
Quote:
Originally Posted by PFUNK
jesus people, its pretty clear the man said $400K and didnt pay it back yet since he anticipated people who owed him, and had money on Tilt might ship it there to which he could apply towards the debt
This

Wtf.... reading comprehension left the building
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:16 PM
Quote:
Originally Posted by PFUNK
jesus people, its pretty clear the man said $400K and didnt pay it back yet since he anticipated people who owed him, and had money on Tilt might ship it there to which he could apply towards the debt
No, it's confusing because barry wasn't exactly clear.

What if he's counting the 250k as money that is owed to those people because of BF?
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02-02-2012 , 07:16 PM
lol owements
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:16 PM
why do they all need to borrow money?
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02-02-2012 , 07:18 PM
lol what a cluster****
Response regarding money I owe to Full Tilt Quote
02-02-2012 , 07:18 PM
Quote:
Originally Posted by Doc T River
I know he said $400,00 but then he brought up the fact he is still owed $150,000 implying that he had paid back $250,000.
He's saying that FTP players owe him 150K.
Response regarding money I owe to Full Tilt Quote

      
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