Full Tilt Poker and US Department of Justice Reach a Deal

» Posted on 12/23/2011
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Full Tilt Poker has finally reached a deal with the US Department of Justice that looks to get upheld player funds back into their rightful hands.

Former players at Full Tilt Poker who found themselves suddenly ejected from the site earlier in the year for residing in the US have been in limbo for more than 7 months, locked out of their accounts, unable to access their own funds, wondering if they would ever see that money again. Now, as Thanksgiving in the US rapidly approaches, it looks like American former Full Tilters may have something to be thankful about after all. The Associated Press reported last Friday, November 18, 2011 that, according to a lawyer for the Groupe Bernard Tapie, the company reached a signed agreement from the US Department of Justice that would permit a sale of the currently defunct online poker site to the French conglomerate.

A lawyer for Raymond Bitar, the CEO of Full Tilt Poker, this will allow for those affected US players to get their money back. By purchasing Full Tilt Poker legally from the US DOJ, the Groupe Bernard Tapie will be able to open the site back up to non-US operations. As per the terms of the agreement, however, the Groupe Bernard Tapie would not be responsible for paying back these players. Rather those players would be allowed to send claims directly to the Department of Justice. Also as part of the agreement, current stakeholders in Full Tilt Poker at the time of its seizure and closure on April 15, 2011 will not be permitted to reinvest in the new, European-focused Full Tilt Poker.

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