AGCC Amends DOJ Seizure Statement

In a statement released on its website yesterday, the Alderney Gambling Control Commission has amended its recent tribunal report regarding the amount of money Full Tilt Poker had seized by the US Department of Justice.

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.

You May Also Like

assets/photos/_resampled/croppedimage12580-pokerstarsamaya.jpg

Amaya Shareholders Approve PokerStars Deal; What Happens Next?

On July 30 at the annual Amaya shareholders meeting, all resolutions concerning the purchase of the Rational Group, parent company of PokerStars and Full Tilt...

31 July 2014
assets/photos/_resampled/croppedimage12580-las-vegas-strip-horiz-8567.jpg

888poker Network Approved for Nevada, Interstate Play Coming?

888poker has been approved by the Nevada Gaming Control Board to unite WSOP.com Poker, Treasure Island Poker and its own brand on one network, which...

30 July 2014
assets/photos/_resampled/croppedimage12580-LuisSuarez888.jpg

Luis Suárez Dropped as 888Poker Ambassador After Biting Incident

888poker announced today it has terminated its sponsorship agreement with Uruguayan footballer Luis Suárez after his suspension for biting an Italian player at the World...

27 June 2014
assets/photos/_resampled/croppedimage12580-Amayastars.jpg

What Does Amaya’s Takeover of PokerStars Really Mean?

It’s perhaps the biggest takeover in the history of online poker.

13 June 2014

Please fill the required fields correctly!

Error saving comment!

You need to wait 3 minutes before posting another comment.

Comment added. Thank you!

No Comments