Originally estimated at $331 million USD, the AGCC is now saying that figure is more accurately the amount of funds that are now “unavailable” to Full Tilt, of which only a part is as a result of DOJ seizures.
The estimated seized amount from other sources put the number closer to $159 million, with roughly $115 million seized prior to Black Friday and $44 million seized on April 15th itself.
The AGCC contends the mistake is “not of significance” in its assessment of Full Tilt’s licensing suspension and eventual removal.
The full statement as it appears on the AGCC website can be found below:
“AGCC wishes to correct and clarify an erroneous statement contained in the Commission tribunal’s published determination notice of the hearing into Full Tilt, which includes the statement:
“the individual seizures made by the Department of Justice during the period 28th June 2007 to 20th June 2011, which amount to a cumulative total of approximately $331 million US Dollars.”
The underlying evidence in the hearing clearly demonstrated that $331 million was the total of funds unavailable to Full Tilt, of which DOJ seizures formed only a part.
“The mis‐statement is thus not of significance in the Commission’s assessment of the matter.”
See the original release from the AGCC here.