Full Tilt Poker players in the U.S have been kept on edge for many a month as they wait patiently for information on when and how they can withdraw their outstanding amounts. During the last couple of months, things have looked up for ex-Full Tilt Poker players as the Garden City Group (“GCG”) took on the responsibility of overseeing the settlement process.
The Garden City Group recently announced that it had started sending across email notices to players who had outstanding amounts with Full Tilt Poker and expected to complete the entire emailing process by the end of 17th September. The email notice from GCG gives players instructions on the process they must follow in filing an online claim for reimbursement of their outstanding amounts.
The GCG will team up with the Asset Forfeiture Unit of the United States Attorney’s Office for the Southern District of New York as well as the Asset Forfeiture and Money Laundering Section of the United States Department of Justice and be responsible for the repayment process.
If players agree with the amount for reimbursement that GCG has provided, they can go ahead with the reimbursement process. The FAQ section of the website addresses ex-players and states
If you agree with the FTP Account Balance displayed through the online filing process, you are not required to submit documentation. However, if you dispute the balance, you are required to submit supporting documentation, such as complete unaltered copies of cancelled checks; wire transfers records, bank or credit statements or similar official transaction records. This supporting documentation must show the account holder’s name, date, transaction descriptions, amount, and financial institution information.
The Garden City Group also posted information on the FAQ section of the website giving players more information on the reimbursement process. Players are expected to file their claims within a 60 day period and the last date for filing of all claims is given as the 16th of November. Those players who do not receive an email from GCG are encouraged to visit the website and file a new petition following the instructions mentioned on the website.
However, no guarantees are given on how much will be reimbursed. The GCG website informed players that
If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis
