Full Tilt Players should finally start seeing their money rightfully returned, soon!

http://www.fulltiltpokerclaims.com/

[h=3]Full Tilt Poker Claims Administration[/h][h=4]Important Notice to United States Victims of Full Tilt Poker Fraud[/h]This is the official website for the Full Tilt Poker Claims Administration, as authorized by the United States Attorney for the Southern District of New York. This administration is the result of the settlement agreement and resulting forfeitures resolving the allegations in the amended civil forfeiture complaint in United States v. PokerStars, et al., 11 Civ. 2564 (LBS), pending in the United States District Court for the Southern District of New York. The Garden City Group, Inc. ("GCG") was retained by the United States to serve as the Claims Administrator of the forfeited funds.[h=4]Important Update About the Calculation Formula and Start of the Claims Process[/h]GCG, working with the Asset Forfeiture Unit of the United States Attorney's Office for the Southern District of New York and the Asset Forfeiture and Money Laundering Section of the United States Department of Justice, has completed the review of data provided by Full Tilt Poker ("FTP"). It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players' final balances with FTP as of April 15, 2011 (the "FTP Account Balances"). The claims process will begin shortly. Once the process begins, GCG will email instructions on how to complete an online claim to all potentially eligible claimants identified by GCG utilizing data supplied by FTP. Account balances from online poker sites other than FTP are not included in this remission process. Petitioners must also meet all other requirements outlined in 28 C.F.R. § 9.8 to be considered eligible for remission.If you do not receive an email notice and you believe you are eligible to participate in the remission process, you may file a claim online using the directions that will be provided on this website.If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.Please continue to check this website for updates regarding this administration.Last updated August 1, 2013.[h=4]Summary of the Settlement Agreement and Forfeitures[/h]In July 2012, the United States entered into settlement agreements with FTP and PokerStars - two of the three online poker companies named as defendants in a civil forfeiture action brought by the United States alleging bank fraud, wire fraud, money laundering, and illegal gambling offenses. Under the terms of the settlement with FTP, the company agreed to forfeit virtually all of its assets to the United States (the "Forfeited Full Tilt Assets") in order to fully resolve the action. The amended complaint filed in that action alleged that FTP defrauded its players by misrepresenting to the public that player funds held by FTP were safe, secure and available for withdrawal at any time. In reality, the company did not maintain funds sufficient to repay all of its players and instead, utilized player funds to finance more than $400 million in dividend payments to Full Tilt's owners.Under the terms of the settlement with PokerStars (the "PokerStars Settlement"), the company agreed, among other things, to forfeit $547 million to the United States and to assume FTP's liability for the approximately $184 million owed by Full Tilt to foreign players. The PokerStars Settlement also provides that PokerStars will acquire the Forfeited Full Tilt Assets from the Government and also precludes PokerStars from offering online poker for real money in the United States unless and until it becomes permissible to do so under relevant law. Utilizing funds forfeited from PokerStars in this action, the Department of Justice has established the Petition for Remission process, by which eligible U.S. fraud victims will be able to seek compensation for their losses.Last updated August 1, 2013.

Been waiting 2 years, those cock suckers, P-stars offered to pay everyone , would have taken maybe 2 weeks. I'll believe it when I see it.

any word on betmega getting me the 36 hundy i'm owed? yeah, didn't think so

this would be a start in returning to normalcy

I'll believe it when I see it. I'm just glad I had taken a withdrawal a week or 10 days earlier or I would be sick. I have acquaintances that lost "real" life changing money.

awmllc2000 said:

I'll believe it when I see it. I'm just glad I had taken a withdrawal a week or 10 days earlier or I would be sick. I have acquaintances that lost "real" life changing money.

Click to expand...

I have also heard some horror stories of people losing life changing money.

Poker Queen said:

I have also heard some horror stories of people losing life changing money.

Click to expand...

I've read stories as high as one guy from Kentucky leaving as much as 7.6 million. I have 2 friends that lost large amounts. One guy lost 78k and another 265k+ I'd be sick.

[h=2]Full Tilt Poker Repayment of Players Expected to Begin ‘Shortly,’ and on Favorable Terms[/h]BY: David Deitch
More than two years after “Black Friday” – the day on which federal prosecutors shut down the U.S. operations of Full Tilt Poker and other major online poker providers and seized billions of dollars in assets – it appears that the final chapter in that enforcement action may soon be written.
The Garden City Group, the entity responsible for claims administration for repayment of Full Tilt Poker players, announced on August 1 that it would soon begin that remission process. Remission of funds to Full Tilt Poker’s U.S. players was made possible because of PokerStars’ payments pursuant to its settlement of civil forfeiture claims with the government. And, due at least in part to advocacy by the Poker Players Alliance (PPA), the calculation formula to be used for the process will be based on players’ final balances as of April 15, 2011, and not on the amount that they originally deposited into their Full Tilt Poker accounts.
Following the Black Friday asset seizures, PokerStars reached a settlement with the United States under which it forfeited $547 million to the U.S. government and agreed to repay approximately $184 million to former customers of Full Tilt Poker outside the United States. One of the valuable aspects of this settlement, from the perspective of former Full Tilt Poker players in the United States, was that it created a fund of money for repayment of players that would not otherwise have existed due to Full Tilt Poker’s financial status at the time of the seizure.
The settlement provided that the United States would oversee a remission process pursuant to which it would return funds to Full Tilt Poker players, but the law governing those processes vests the government with enormous discretion in, among other things, the manner in which the government calculates the amount to be distributed to each recipient. In the case of Full Tilt Poker’s U.S. players, the government was considering an approach that would have based the payment to each player on the amount he or she had deposited into a Full Tilt Poker account, regardless of the wins or losses in that account thereafter.
An alternative approach was to base the payment on the balance remaining in the account on April 15, 2011 – the last day on which the player could have accessed his or her account. The PPA and other advocates of this approach point out that this was a truer measure of the “loss” that each player suffered; to the extent that a player’s balance was lower on that date than his or her initial deposit, it was not due to any wrongdoing but rather a result of poker play. A player who received his or her initial deposit that was greater than the balance on that date would receive an unjustified windfall by recouping money lost fairly in playing online poker. Thus, to use deposit amounts as the basis for remission would effectively redistribute funds among players in a way that was unrelated to the purpose of the seizure and remission. This would have been inconsistent with applicable regulations’ definition of the “victim” to receive remission in terms of the loss suffered “as a direct result of the commission of the offense underlying a forfeiture.” (See 28 C.F.R. § 9.2(v)).
Advocates also expressed concerns that a “deposit”-based refund process would be unduly complicated, and would create inequities between foreign Full Tilt Poker players and U.S. PokerStars players, who received refunds based upon account balances.
It remains to be seen whether Full Tilt Poker’s U.S. players will receive the full amount of their account balances or a proportionally smaller amount – a decision that will be based on whether the amount available for remission is equal to or greater than the aggregate amount of claims filed for such refunds. But the decision to base remission on account balances and the indication that the long-delayed process will start soon are both positive signs that Full Tilt Poker’s U.S. players may soon be made whole from their Black Friday losses.

Last week, the Garden City Group, the appointed Claims Administrator for U.S. Full Tilt Poker funds, announced thatplayer cashouts would be based on balances as of April 15, 2011. Other methods of determining how much players would be paid back, including total deposits, had been tossed around. Whether players will receive their full balances, or just a percentage on the dollar, remains to be seen. When the process will begin is also unclear.

The Poker Players Alliance, the main lobbying voice for poker players on Capitol Hill in the United States, has been in touch with the Garden City Group to expedite the claims process as much as possible.

The organization's Executive Director, John Pappas, told PocketFives, "Last week's announcement shows that progress is being made and it should please every poker player who has money tied up on Full Tilt. Over the past several weeks, the PPA and the poker community intensified its pressure on the DOJ and Garden City Group to expedite full remission of player funds. Even members of Congress began weighing in on behalf of their constituents."

Pappas surmised, "While many factors contributed to the timing of the announcement, there is little doubt that player activism played a role. To be clear, the much-anticipated announcement only marks the very beginning of the remission process, and affected players should be mindful that it still may be some time until they actually receive their money."

A recent CardPlayer article claimed that players in the United States could potentially wait over a year to be reunited with their Full Tilt bankrolls.

We asked Pappas what metric the PPA heard would be the basis for player cashouts before last week's news. Would it be deposits, balances, or something else? Pappas explained, "There were indications that the DOJ was considering a remission process that was not based on players balances at the time they were frozen out of their accounts. In our November meeting with them, they alluded to the idea that deposits could be the basis. The PPA and its legal team countered that line of thinking and provided the DOJ with a memorandum that explained the legal and practical reasons for paying back account balances."

One of the questions lingering on players' minds is whether they'll get the full balance of their funds back or merely a percentage. Contrary to several reports floating around last week, it's still up in the air. "I don't want to predict because I have learned that Government can be very unpredictable," Pappas evaluated. "However, there is no reason why players should not be made whole. PokerStars absorbed all of Full Tilt's debts in their settlement with the DOJ and they have provided more than enough funds to cover the player account balances."

Pappas added, "It is also likely that less than 100% of affected players will seek remission of their funds, although I hope players are properly notified of the opportunity. Thus, the pool of available funds for players who do will be even larger. Let's not take this for granted, though, and we should keep reminding the DOJ that 100% of player balances, including cash value tokens, points, and medals, is the expected return."

check out this movie and the players reactions in the begining...
http://www.therxforum.com/showthread.php?t=962291