So far 2014 has been a great year for Full Tilt Poker players who had their funds seized by the Department of Justice, as they got some of their money back. The reimbursement process is carried out by the Garden City Group and most of those who were eligible for refunds got their money credited to their bank accounts earlier this year. Those who have met all the eligibility requirements and the deadlines already got their money back, but a new round of payments is scheduled for June 12.
The Garden City Group announced that on Thursday, those “petitioners who have been approved for payment in the upcoming distribution and whose bank account information has passed the preliminary testing process”will receive a slice of $15 million. Those who want to stay up to date with all the details, should know that the information is available at the fulltiltpokerclaims.com website.
The company in charge for reimbursing those who are eligible went to great lengths to make sure that Full Tilt Poker players know exactly what conditions need to be met. Apparently not all of those who were approved for payment have provided the necessary data, with most of the problems being about the bank account information. As a result, GCG notified the petitioners last Friday and provided them with accurate instructions about how to bring their bank account data up to date and correct existing errors.
This is a very important piece of the puzzle and players should make sure their bank account information is updated by June 25. Those who fail to comply, will receive a cheque from the Garden City Group to the mailing address that they used when filing the petition. The reimbursement process is ongoing and several important milestones have been reached, with GCG refunding in excess of $80 million to US Full Tilt Poker. Most of them got the money credited to their bank accounts in the second half of March.
After this, a group of petitioners will receive their money back, the Garden City Group would only have to focus on the affiliates, Full Tilt Poker professionals and people who still have disputed balances. They need to also be accepted for reimbursement and in order to speed up the process, it is imperative for the government to approve the petitions.
Read the whole announcement below:
As part of the normal bank account testing conducted prior to issuing ACH payments (as further described below), GCG has identified certain Petitioners who are approved for payment but who submitted account information that was either incomplete or incorrect. On June 6, 2014, GCG sent emails to all such Petitioners with instructions as to how to update their bank account information through the online filing site. Please note that if we do not receive updated, complete and accurate information by June 25, 2014, a check will be sent to the mailing address provided with the Petition. Petitioners who were approved for payment but who submitted incomplete or inaccurate bank information will receive payment in a subsequent distribution. If any such Petitioners have questions about this process, please contact us.
All other Petitioners who have been approved for payment in the upcoming distribution and whose bank account information has passed the preliminary testing process will be sent an email notice in the next couple of days with the amount of their payment. The next round of payments is scheduled to be issued on Thursday, June 12.