FTP: Oops

[Dr. Neau]

The U.S. Justice Department accused poker celebrities Howard Lederer and
Christopher Ferguson among other executives of a major poker website of
defrauding poker players out of more than $300 million.

The U.S. Attorney in the Southern District of New York filed a motion
Tuesday to amend an earlier civil complaint to allege that Mr. Ferguson,
Mr. Lederer and two other directors for the website, Full Tilt Poker,
operated what the Justice Department says was a Ponzi scheme that
allowed the company to pay out $444 million to themselves and other
owners, which included other famous poker players.

[William]

Time to look for a non-extradition country me thinks...

[Lumpy50]

Good  luck getting your money out. Apparently FTP has all of 60 million to cover the 390 million in player accounts.

[NotFadeAway]

I think my chances of ever cashing out of FTP just went from very low to drawing dead. 

[Wedge Rock]

I got my P* money months and months ago...

Just sayin'...

[William]

Good thing I was on a losing streak I guess...

[Flaming Frog Poker]

I still have about $500 in deposits that I made that have never been taken out of my account.  I guess I came out ahead in the ponzi scheme (of course I play bad so turned that $500 into $0).

[Wedge Rock]

Dear XXXXXX,

This week’s news from the U.S. Department of Justice alleging that Full Tilt Poker perpetrated a “global Ponzi scheme” that defrauded players has sent shockwaves through the poker community. If true, these allegations detail a massive betrayal of player trust and will cause further hardship for the individual poker player, none of whom have been accused of doing anything wrong. Based on the DOJ allegations, it is clear that the players who deposited money and played on Full Tilt Poker are truly the victims in all of this mess.

The PPA believes that fundamental justice requires that players be repaid their money on deposit, and so we wanted to mention an avenue by which players can ask the DOJ to return funds to them through restitution in the pending case. A federal statute establishes a number of rights for victims of crimes and requires that the government take steps to assist these victims. The DOJ put in place a set of guidelines and created a program, Victims and Witness Services, so that the government could live up to its statutory obligations to victims of crimes. Again, based on the allegations set forth by the DOJ, poker players who deposited money with Full Tilt Poker should be treated as crime victims and afforded the full rights and protections of our government.

If you have been unable to withdraw your money from Full Tilt Poker, you may wish to contact the Victim/Witness Coordinator at the U.S. Attorney’s office and ask that you be afforded the rights of a crime victim as outlined on their website. Let them know that you would like to be kept informed of any major developments in the case (United States v. Full Tilt, et al., 11 C 2564 and United States v. Scheinberg, et al., 10 CR 336) and that you are seeking restitution of lost funds.

You can send your letter or email to:

Wendy Olsen Clancy
Victim/Witness Coordinator
United States Attorney's Office
One St. Andrew's Plaza
New York, New York 10007
(866) 874-8900
Wendy.Olsen@usdoj.gov

The PPA will provide you with information as this situation continues to develop.

Might be able to get some of the dough back.

I still have about $500 in deposits that I made that have never been taken out of my account.

I heard that FTP was crediting accounts without actually collecting the money when they were having difficulty in processing the transactions...  They wanted to maintain the aura of stability.

[Killingbird]

cant decide if this is good news or bad news as far as getting money off.