Speculation about FTP money, but very bad news if true

This is terrible news, if true..

Follow the link, but basically, it's possible the FTP had its major play accounts in Ireland seized. If this is the case, the money is likely in the civil asset forfeiture fund (this is my speculation, I'm not so well versed on these matters). Basically from what I've been told about this fund, it's our worst nightmare.

I hope the link is wrong. But I've basically been assuming that I'll get my money back ($12k) within a month or so, and I may have to rethink my finances in light of this information.

I had one $50 deposit that I made way back in Dec. that never hit my checking account. I had read a lot of threads on P5 about deposits never clearing accounts. Maybe FTP was in trouble before this all came down?

If they are never going to debit my acoount maybe I shoud have maxed out deposits and sat at some high limit tables................

Good luck and heres hoping you get your money soon Wags.

P-wayne, a buddy of mine had a deposit experience like yours.

I also hope the link is wrong, wags. My roll is only 1/10 the size of yours, but it's my hard-earned $. All this bullsh!t from FT about our $ being safe with us, but no follow-up communication (even after they promised it) is getting on my nerves.

Yikes!

Just wrote my Congressmen railing for them to make DoJ expedite the release of player funds. Of course, if FTP doesn't have the funds, as the article remotely suggests, it may not be a DoJ issue. If that's the case,

Double Yikes!

PS The author makes a well reasoned argument IMO.

The author is saying that Full Tilt had the funds, but that they were ceased under civil asset forfeiture. This short video explains that that is pretty bad.

According to FTP today, they are still working out the kinks of paying back US players: "We are absolutely committed to making sure that US players are refunded as soon as possible. We apologize for the delay and the fact that we underestimated the time it would take to work through these issues. We will update our US players when we have more specific information to provide"

Slightly more or less troublesome is the points situation:
"We will be opening up the FTP Store to US players again. All of the details haven't been worked out yet, but this is how you will be able to use your points. It's expected that everything in the store will be available for purchase except for bonuses and tickets."

i.e. you can get merchandise, but not the cash that many pros were counting on. This is bad.

t,

Did your post on hammah's WSOP thread about wags "getting his money tomorrow" (or something like that) mean that the FTP Cashier is now at least accepting cashout requests?

I was out of town all weekend and just saw your posts.

Cat

PS My congressmen's replies were lame. All they said basically was, "Yeah, the sites broke the law and deserved to be indicted; it's the transfer of funds, not the gaming that's illegal; and there was new legislation pending to legalize on-line gambling and they'd remember my position."

Well, that's all well and good, and the sites probably (innocent til proven gulty) did break the law, but I asked them to get the DoJ to expedite getting our funds returned. Typical political BS. Don't answer the question posed.

F politicians.

Cat, he was just speaking hypothetically.

ok, ty, wags. I just checked and both the Cashier and Store were unavailable.

Just received my rakeback into my FTP account... baby steps....