Full Tilt Poker pays out additional $5m to US customers

Legal administration firm Garden City Group, the company responsible for administering remissions to US customers of online poker brand Full Tilt Poker, has announced a further $5 million (€3.6 million) has been sent to players.

According to the Onlinepokerreport.com website, the second round of payments was issued to around 2,200 accounts on April 1.

As reported by iGaming Business, a first round of payments that totalled $74 million was issued to US customers in late February.

A total of around $81 million in payments has now been distributed to just under 30,000 accounts.

Despite the repayments, there is still a substantial gap between the amount that has been paid so far and the sum of US customer balances on Full Tilt Poker when the site closed.

US customer accounts have been frozen since 2011 due to a criminal case.

Prosecutors had accused Full Tilt, as well as fellow online operators PokerStars and Absolute Poker, of circumventing federal laws against online gaming by deceiving banks and credit card issuers into processing payments for US players.

In July 2012, the Justice Department announced a $731 million settlement with PokerStars and Full Tilt to resolve the allegations.

Full Tilt also settled allegations it had operated a ‘Ponzi’ scheme and failed to maintain sufficient funds on deposits that players could withdraw.

Full Tilt agreed to forfeit almost all of its assets to the government, with PokerStars subsequently acquiring the online poker operator.

source : www.igamingbusiness.com

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