cardriverx
Legend
Silver Level
http://www.pokernews.com/news/2012/...r-doj-agree-on-forfeiture-agreement-11919.htm
don't know if good or bad - probably good.
don't know if good or bad - probably good.
cardriverx
Legend
Silver Level
http://www.cardplayer.com/poker-news/12714-chris-ferguson-close-to-settling-with-doj-lawyer-says
even better news regarding ferguson
even better news regarding ferguson
H
hawtshawt420
Rock Star
Silver Level
This may be a dumb question that may have been answered in the past 60 pages of comments but how is Full Tilt still dealing with DOJ? Wouldn't the DOJ for US only be able to tell them how to act inside of US and once they barred them out that's all they can do right? Unless the site is trying to use the sale to get back into the US then what does it matter what the DOJ says about it?
OzExorcist
Broomcorn's uncle
Bronze Level
In a nutshell, they're cooperating with the DOJ in return for having a bunch of charges against the company dropped - without that agreement in place, nobody would want to buy the company.
Charade You Are
you can call me Frost
Silver Level
This is the best explanation I could find.
http://biggovernment.com/mminton/2011/05/13/feds-online-poker-shutdown-assaults-internet-freedom/
Basically says that .com sites were registered in US and therefore subject to US civil forfeiture laws.
http://biggovernment.com/mminton/2011/05/13/feds-online-poker-shutdown-assaults-internet-freedom/
Basically says that .com sites were registered in US and therefore subject to US civil forfeiture laws.
Charade You Are
you can call me Frost
Silver Level
Our day is coming. Mitt will make it right. After all, he plays cribbage which is a kind of holdem but without cards. Isn't it?
Don't be so sure. The Mormon Church has always opposed gambling in every form, including government-sponsored lotteries. Utah is one of the last two states with no legalized gambling.
Hmmm that's gonna suck, choosing between Romney and Obama. No good choice imo.
alaskabill
Legend
Silver Level
Another monkey wrench in the deal for FTP.
http://www.pokerstrategy.com/news/w...o-Collect-Owed-Funds-from-Several-Pros_56256/
"GBT doesn't want to acquire assets which will need to be litigated over later. In total, the sum owed to the company is between $10 and $20 million. Several of the players who owe money and have not yet expressed a willingness to pay their debts include Phil Ivey, Layne Flack, David Benyamine, and Erik Lindgren. Barry Greenstein, Mike Matusow, and others owe a smaller but still significant amount.
If the money doesn't come in, it creates a serious obstacle to completion of the deal. This isn't the only issue with the takeover, and the deal won't end on any one issue - but this is a substantial item."
http://www.pokerstrategy.com/news/w...o-Collect-Owed-Funds-from-Several-Pros_56256/
"GBT doesn't want to acquire assets which will need to be litigated over later. In total, the sum owed to the company is between $10 and $20 million. Several of the players who owe money and have not yet expressed a willingness to pay their debts include Phil Ivey, Layne Flack, David Benyamine, and Erik Lindgren. Barry Greenstein, Mike Matusow, and others owe a smaller but still significant amount.
If the money doesn't come in, it creates a serious obstacle to completion of the deal. This isn't the only issue with the takeover, and the deal won't end on any one issue - but this is a substantial item."
alaskabill
Legend
Silver Level
Hard to say without Barry explaiining it himself but since he has known Howard, Phil etc for years maybe they loaned him some money from FTP funds to finance a staking deal or something. Regardless, if this is what ultimately sinks the deal I hope these guys pay a price for their greed. Pay your debts!
pfb8888
Legend
Silver Level
couldnt be more wrong....its a card game...and absolutely no bluffingOur day is coming. Mitt will make it right. After all, he plays cribbage which is a kind of holdem but without cards. Isn't it?
alaskabill
Legend
Silver Level
I think your sarcasm meter is broken.
OzExorcist
Broomcorn's uncle
Bronze Level
Greenstein wasn't always a Stars pro, who knows how far back this might go or what was done behind the scenes. Agree though, it might raise some difficult questions with his Stars rep
Also, the fact that Ivey owes the site money has been a matter of public record for some time now - IIRC I think the story there is that he's happy to pay it back but he wanted to wait until new ownership and improved practices were established before he did, as paying it back to the old owners would have been like throwing money into a black hole...
alaskabill
Legend
Silver Level
Greenstein wasn't always a Stars pro, who knows how far back this might go or what was done behind the scenes. Agree though, it might raise some difficult questions with his Stars rep
Also, the fact that Ivey owes the site money has been a matter of public record for some time now - IIRC I think the story there is that he's happy to pay it back but he wanted to wait until new ownership and improved practices were established before he did, as paying it back to the old owners would have been like throwing money into a black hole...
The problem with Ivey's position at this point is Tapie is (or will be) the new owner. Apparently he doesn't want to pay him.
alaskabill
Legend
Silver Level
FWIW Barry G. responded on 2+2. I'm not going to link to it here but if you go to NVG you can read his response.
I respect the hell out of Barry and I love that he is responding publicly but I'm not sure I agree with his stance. Perhaps someone with a little more business/legal knowledge than I have could do a cliffs (not sure mine would be accurate) and tell us if this makes sense.
I respect the hell out of Barry and I love that he is responding publicly but I'm not sure I agree with his stance. Perhaps someone with a little more business/legal knowledge than I have could do a cliffs (not sure mine would be accurate) and tell us if this makes sense.
OzExorcist
Broomcorn's uncle
Bronze Level
Hmmm... as a ROW player I can see a flaw in his argument: Full Tilt owes money to all of its player base, not just Americans.
I respect what he's trying to do (ie: ensure that the money he owes goes where it's needed most - into players' pockets) and I guess there's an argument that Tapie Group is guaranteeing full payouts for ROW players whereas it's still unknown whether American players will get full or partial payouts.
But I really don't think it's for him to decide whether his money is used to pay Americans or ROW players.
I respect what he's trying to do (ie: ensure that the money he owes goes where it's needed most - into players' pockets) and I guess there's an argument that Tapie Group is guaranteeing full payouts for ROW players whereas it's still unknown whether American players will get full or partial payouts.
But I really don't think it's for him to decide whether his money is used to pay Americans or ROW players.
jaymfc
R.I.P DJ & Buck
Loyaler
thanks
got to quit reading all these crap stories about everyone and half or more of it is bullshit . they had me believing Ferguson was stealing when I knew he was better than that . although I still do not know exactly where he stands in all this , I can again remain neutral till it's over . f**k subject poker
alaskabill
Legend
Silver Level
thanks
So his lawyer issues a statement saying its all good and you just assume that it is correct? What did you expect his lawyer to say? Subject poker's record for accurate statements > anyone associated with Full Tilt.
drdunks
Enthusiast
Silver Level
This sounds like the bit in Goodfellas after Maury gets it lol. I can almost hear the outro in Layla now. An a picture of Chris Ferguson garoted in a pink Cadillac lmfao. Only joking Chris...
An Alaska Bills right on the money I reckon....
okeedokalee
Glory To Ukraine
Loyaler
quotes from Pokernews:
Dayanim told Gaming Intelligence that Phil Ivey, David Benyamine, Erick Lindgren, Mike Matusow and Barry Greenstein are among the players who owe $10 million to $20 million to full tilt poker. That amount was discovered while GBT was conducting due diligence to learn more about Full Tilt Poker's financial situation.
“The diligence has revealed that the financial position is worse than we had anticipated”, Dayanim told Gaming Intelligence. “We do not want to litigate a whole bunch of individual cases against professionals post-acquisition so we are trying to negotiate but we have not been making a lot of progress.
“This is not the only issue that is holding up the sale but it is a significant one. The company has greater liabilities — excluding player liabilities — than we had hoped. The forfeiture would extinguish any U.S. claims to the assets but they do not necessarily extinguish creditor claims in other countries.”
Despite the concerns raised by the investigation, sources inside the company still seem confident that they will be able to complete the deal with Full Tilt Poker and the Department of Justice by the end of this month.
It’s been hinted that some players would only be interested in repaying money if it went into a fund that would pay players back. Is that something GBT would consider as an option?
Some players have said things like that, some professionals have said things like that. I use the term professionals just because I don’t want people to be confused. We’re not talking about the mass of players who have balances on Full Tilt, we’re talking about professionals who owe the company money.
The reality is this. If we are unable to resolve some of these substantial obstacles that stand in the way of the completion of the deal, we won’t be able to complete the deal. If we don’t complete the deal, then the rest of the world players won’t be compensated nor made whole because we won’t be there to do it, and the government would have less money than it otherwise would to pay the U.S. players to the extent that it plans to do so. That’s the reality. We really need to resolve some of these issues in order to be able to purchase the company. This is a significant issue.
Read more: http://www.pokernews.com/news/2012/...orney-ivey-benyamine-other-pros-owe-11939.htm
Read more: http://www.pokernews.com/news/2012/...orney-ivey-benyamine-other-pros-owe-11939.htm
Dayanim told Gaming Intelligence that Phil Ivey, David Benyamine, Erick Lindgren, Mike Matusow and Barry Greenstein are among the players who owe $10 million to $20 million to full tilt poker. That amount was discovered while GBT was conducting due diligence to learn more about Full Tilt Poker's financial situation.
“The diligence has revealed that the financial position is worse than we had anticipated”, Dayanim told Gaming Intelligence. “We do not want to litigate a whole bunch of individual cases against professionals post-acquisition so we are trying to negotiate but we have not been making a lot of progress.
“This is not the only issue that is holding up the sale but it is a significant one. The company has greater liabilities — excluding player liabilities — than we had hoped. The forfeiture would extinguish any U.S. claims to the assets but they do not necessarily extinguish creditor claims in other countries.”
Despite the concerns raised by the investigation, sources inside the company still seem confident that they will be able to complete the deal with Full Tilt Poker and the Department of Justice by the end of this month.
It’s been hinted that some players would only be interested in repaying money if it went into a fund that would pay players back. Is that something GBT would consider as an option?
Some players have said things like that, some professionals have said things like that. I use the term professionals just because I don’t want people to be confused. We’re not talking about the mass of players who have balances on Full Tilt, we’re talking about professionals who owe the company money.
The reality is this. If we are unable to resolve some of these substantial obstacles that stand in the way of the completion of the deal, we won’t be able to complete the deal. If we don’t complete the deal, then the rest of the world players won’t be compensated nor made whole because we won’t be there to do it, and the government would have less money than it otherwise would to pay the U.S. players to the extent that it plans to do so. That’s the reality. We really need to resolve some of these issues in order to be able to purchase the company. This is a significant issue.
Read more: http://www.pokernews.com/news/2012/...orney-ivey-benyamine-other-pros-owe-11939.htm
Read more: http://www.pokernews.com/news/2012/...orney-ivey-benyamine-other-pros-owe-11939.htm
Charade You Are
you can call me Frost
Silver Level
I can understand where he's coming from. I certainly don't blame him for not paying it back right now with everything still up in the air.
If he paid back the money earlier, it would have been gone. As you said, Tapie is saying ROW players will be paid if the deal goes through. We are going to have to go through the DOJ and there is no guarantee we will be fully repaid. Who knows what funds they have confiscated and will be willing to give back.
Sounds like Greenstein is just waiting for it to all get sorted out.
As has been the case all along with FTP, their abysmal mis-management and outright lies ****ed this up for everybody.
jaymfc
R.I.P DJ & Buck
Loyaler
you're assuming everything you have read from subject poker is correct aren't you ? I'm pretty sure you have absolutely no proof of your own , correct ? as I stated " I can again remain neutral " till something is proved . I no longer want to point fingers or go with the mob mentality screaming " hang em " . I believe Ferguson , Lederer and many of the other pros are men of moral character and not thief's . I may very well be proved wrong but till then ........
I just wish they would quit crying about money when they are buying a license to print new money .
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JohnBoyWWFC
Grindddddd
Silver Level
Yes, everything Subject Poker has said is true. Noah has no reason to fabricate stories. Stop burying your head in the sand because your idol is a selfish *insert expletive here*.
jaymfc
R.I.P DJ & Buck
Loyaler
ok I take back the " f**k subject poker comment
seems to be good people trying to get the real story out but I'm still not ready to hang him till it's all done and said . and yes it's a lil sandy here .