By Ian Hiaring, Rakeback.com Poker News Staff Writer
Details are emerging about Full Tilt Poker’s inability to process cashouts for U.S. Players no longer able to play on the site. A report on the eGaming Review website is providing more details on the Full Tilt's current financial situation.
Citing an unnamed “FTP source”, the report states that anywhere from $100-150 million is owed to U.S. players, and that over the last few weeks Full Tilt Poker has been actively seeking out investors outside of the financial services sector to allow U.S. players to retrieve their funds.
Just recently the U.S. Department of Justice has freed up funds from a frozen account that makes up more than a third of the total amount owed to U.S. players. The source says that despite the unfreezing of the account, there’s still no timetable set for U.S. cashouts.
The Full Tilt Poker source goes into detail regarding the shortfall that the company is currently experiencing. It appears that in addition to the 76 accounts frozen as a result of the April 15th indictments, other accounts held by Full Tilt Poker have been frozen by the banks themselves. The source states that “Banks that weren’t even subject to restraining orders started shutting down because they thought 'we have to be careful, the Americans are after us'. We actually had to ask the prosecutors to call these banks and tell them they weren’t interested in them.”
The Full Tilt Poker financial situation is certainly a dynamic one, with details trickling out almost daily. Check the Rakeback.com News page often, and we’ll stay on top of it for you.
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