Full Tilt Poker and their players have had a tumultuous time since Black Friday. It’s actually difficult to keep track of everything that has transpired and we’re sure you could probably write a book about it. However, sometimes you don’t want to read a book, but rather get a quick summary. Fulltiltpokershutdown.com has compiled a history of the major events that have occurred since Black Friday so that you can keep up to date. We will continue to add information as it comes available.
Full Tilt Poker Timeline
January 24th – Full Tilt finalize forfeiture of assets to US DOJ. Final step in sale is for GBT to buy assets (price already agreed upon at $80 million) from US DOJ.
December 15th – Groupe Bernard Tapie and Full Tilt complete agreement for transfer of assets from FTP to GBT. These assets will first be forfeited to the US DOJ before GBT can make the final purchase for $80 million.
November 17th – US DOJ confirms that they and Groupe Bernard Tapie have officially signed a letter of agreement for the sale of Full Tilt Poker. This agreement was necessary before a sale could be finalized. Once Full Tilt shareholders sign their end, the deal will be complete. It has been reported that Full Tilt Poker was sold for $80 million and Groupe Bernard Tapie will be responsible for liabilities (account balances) for international players while the US DOJ will take care of US citizens.
November 1st – French Investors, Groupe Bernard Tapie reach agreement with US DOJ allowing the acquisition of Full Tilt Poker to continue. Reports indicate that the proposed deal with GBT will go to shareholders and if approved by two thirds ownership the deal will be completed.
October 12th – Merge Poker network decides to start accepting US players again after blocking access on June 1st.
September 29th – After suspending Full Tilt Poker’s license on June 29th, it appears that the Alderney Gaming Control Commission (AGCC) has finally had enough of Full Tilt and they officially revoke their license.
September 21st – Being millions in debt, Full Tilt appears to have a serious French investor who is considering the purchase of FTP
September 19th – DOJ amends original civil complaint. Calls Full Tilt Poker Ponzi Scheme. Three new defendants are adding: Howard Lederer, Chris Ferguson, and Rafe Furst. DOJ alleges Full Tilt Poker owes $150 million to US players. Total debt to players roughly $300 million worldwide.
August 31st – Full Tilt issues statement which reveals:
- US Government had seized $115 million in two years prior to Black Friday
- FTP had discussions with 6 potential investors since Black Friday
- Processor had “stolen” $42Million from FTP prior to Black Friday
- Full Tilt Poker confirms shortfall of deposits that were credited to players accounts but they didn’t actually receive the funds – exact amount not stated but sources estimate it’s close to $130 million.
August 26th – Original rumors that Full Tilt Poker had a shortfall of $60 million turn out to be much worse than thought – actual shortfall around $130 million.
July 10th – Full Tilt Poker agreed to exclusive negotiations with prospective European Investor as way to solve financial shortfall.
July 4th – Full Tilt Poker license with French regulator Autorité de Régulation des Jeux En Ligne is suspended
July 1st – Ivey drops lawsuit against Full Tilt Poker which he had launched one month prior
June 29th – Alderney Suspends Full Tilt Poker license to sort out the situation. Fulltiltpoker.com shutdown worldwide
June 16th – rumors begin to circulate that Full Tilt Poker was crediting players funds without accepting the cash. Possible $60 million shortfall
June 1st – Merge temporarily blocks all US signups citing inability to handle processing volume.
June 1st – Phil Ivey issues statement and sues Tiltware for $150 million damages
May 31th – Full Tilt Poker issues another statement: not sure when US player will be paid. FTP claims that they are NOT bankrupt (that turns out to be a lie).
May 25th – Merge blocks some states (NY, Washington, Maryland, Missouri, Louisiana). Possibly over concerns as to where DOJ investigations are based out of.
May 23rd – Bradley Franzen (charged along with Full Tilt Poker on Black Friday) pleads guilty to charges of conspiracy to commit bank fraud, accepting funds in connection with unlawful internet gambling and conspiracy to commit money laundering.
May 23rd – Indicted unsealed against Doylesroom.com, Bookmaker.com and Beted.com
May 15th –Full Tilt Poker statement: Apologize for players not being able to withdraw. Say non-US operations are returning to normal.
May 3rd – Full Tilt Poker says payments should start flowing this week
April 26th – Full Tilt Poker issues statement: Working with US DOJ to facilitate payments but no means to pay due to processors being unable to work with them.
April 19th – Full Tilt Poker and DOJ enter into “Domain name use agreement” which permits the domain fulltiltpoker.com to be back up in an effort to facilitate players and not block non-US action.
April 15th – Black Friday. Indictment unsealed against Full Tilt Poker, Pokerstars and Cereus Network (Absolute Poker, UB Poker). Industry and gambling community are in shock as websites are shut down.
