Full Tilt Payments: One Step Closer
August 13, 2012
For those looking for employment, the Department of Justice has an interesting job listing posted on their website. They are looking for a third party Claims Administrator to assist with repayments to former Full Tilt players.
According to the DOJH, there are roughly 1.3 million possible US players who were wronged by Full Tilt after Black Friday when the former online poker site was unable to refund player accounts following Black Friday. These potential victims held account balances totaling almost $160 million. Now that PokerStars has made a first installment payment to the DOJ of $225 million, the money is now available to repay the former Full Tilt players. Once it’s all said and done, PokerStars will have paid $547 million to the US government.
According to Full Tilt attorney Jeff Irah, who helped advance the deal between PokerStars and the DOJ, says that the Claims Administrator will work to help these payments get back into the hands of former Full Tilt players. Interested firms need submit applications by the month’s end to be considered; however, any applicants must disclose any associations they’ve had with online poker site or gambling institution in the past, so as to no “be viewed as affecting independence.”
The DOJ expressed that the firm to be hired will work with authorities to “design and execute a process to solicit, receive and evaluate claims, and to process payments, for losses incurred by U.S. victims that are attributable to the fraud alleged in the [Full Tilt Poker complaint]. In so doing the Claims Administrator will obtain and evaluate information, such as financial transaction records, from claimants, and analyze information contained in user account records provided in database and other format by Full Tilt Poker.”