Cookies on the PokerWorks Website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the PokerWorks website. However, if you would like to, you can change your cookie settings at any time.

Continue using cookies

Poker News | Gambling and the Law

New Updates from Garden City Group on Full Tilt Poker Repayments

Share this

Two new announcements were published late last week by the company that is handling the repayment of money owed to U.S. Full Tilt Poker players. The Garden City Group (GCG) was named as the payment processor by the Southern District of New York last November. The new announcements regarding the remission process can be viewed on the GCG's website posted two new announcements .

The GCG sent out news last month that petitioners were going to receive approximately $82 million in Full Tilt Poker funds by the end of March. The possibility exists that some of the petitioners may not see any funds deposited in their bank accounts.

Friday brought the first update on the GCG website stating that if a customer was eligible for a refund and had a delinquent debt which was owed to the U.S. government, then the payment to the petitioners would be "reduced in order to satisfy their debt in part or in whole."

Petitioners in the above category were sent a notice on January 29th that included a Unified Financial Management System Vendor Request Form. Obviously, those want to be paid the balance of their payment have to fill out the form and return it — the time limit for the return to GCG is 30 days. More information is available at the GCG website.

The second update pertained to petitioners that were identified as affiliates for Full Tilt Poker. In the original statements issued, affiliates were not eligible for repayment as determined by the Department of Justice, that changed after the DOJ and the Poker Players Alliance met. The stipulation was that affiliates were only going to be repaid for money earned at the tables as a player. The affiliate-related earned funds would not be eligible for repayment.

The GCG sent approximately 8,400 notices on January 31st to affiliates with information and instructions for filing in the remission process. All petitions must be submitted by March 2, 2014.

Red Pros at Full Tilt Poker are not included because the GCG said in its latest update that handling those accounts is still under review. A notice will be sent to those players when the review is finished.

It's time to follow PokerWorks on Twitter! And like us on Facebook to stay updated with poker news, events, and promotions.

News Flash

The IRS Scores Big at 2015 WSOP ME Final Table

The IRS managed to snag 34.13 percent from the payouts of the 2015 November Nine, totaling $8,467,091.

Read more

Quick Room Review

Bonus Room review

Subscribe to the Nightly Turbo

Be the first to know all the latest poker news, tournament results, gossip and learn all about the best online poker deals straight from your inbox.

RSS Feed