Full Tilt Poker Issues another Statement

The beleaguered poker operator accuses US enforcement actions for its downfall In an interesting interview given to Forbes magazine this week, the troubled Full Tilt Poker online poker provider tried to explain why it has not paid its players so far, by accusing the Black Friday indictments against two of its top people, as well as the U.S. government cash seizures over many years and a $42 million theft conducted by one of its payment processors. “As is obvious from the events that have transpired since April 15th, Full Tilt Poker was not prepared for the far-reaching, US government enforcement effort of Black Friday. Full Tilt Poker never anticipated that the DoJ would proceed as it did by seizing our global domain name and shutting down the site worldwide,” it was stated. According to the statement, such DoJ actions against online poker payment processors over the last few years resulted in the confiscation of some $115 million of player funds located in U.S. banks. Currently, FTP also faces a $3 billion DoJ claim in a civil lawsuit, and in addition, it claims that it was the victim of the above mentioned payment processor heist. In relation to this, the company stated: “Until April 15th, Full Tilt Poker had always covered these losses so that no player was ever affected.” It was added that it experienced “unprecedented issues with some of its third-party processors that greatly contributed to its financial problems.” At the moment, FTP is waiting for the second public hearing by the Alderney Gambling Control Commission where the future of its license will be decided. In the meantime, it is in search for investors who could help its recovery. According to the latest reports, six investment groups, including hedge funds and operators of other Internet firms, have visited FTP's Dublin headquarters, and the company also specified that it has hired an unnamed financial advisor to “assist us in our search for an infusion of cash as well as a new management team to restore the site and repay players.”
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