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Its recently been announced by the Alderney Gambling Control Commission (AGCC) that the license of Full Tilt Poker has been suspended and it has ordered the site to suspend all operations. Players worldwide have been unable to login or play on full tilt poker on Wednesday.
AGCC formal statement read:
“Alderney Gambling Control Commission (AGCC) has today issued Hearing Notices under Regulation 46 of its Regulations to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, collectively trading as FULL TILT POKER.
In addition, AGCC has issued Suspension Notices under Regulation 47 to the above named companies requiring them to suspend all operations with immediate effect.The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney GeneralÂ’s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation. The nature of the findings necessitated the taking of immediate action in the public interest.
The venue and date for the hearing will be announced in due course.
Issued by:
André Wilsenach (Executive Director)
Alderney Gambling Control Commission
Alderney,
Channel Islands
Date issued: 29th June 2011″The above named companies must, until the Suspension Notices are cancelled or the Commissioners of AGCC have reached a determination at the conclusion of the hearing convened in accordance with Regulation 46 of the Alderney eGambling Regulations, 2009 cease to exercise their eGambling licenses, which means that these licensees must from today cease to:
Register new customers;
Accept deposits from existing customers;
Allow existing customers to withdraw funds that are held in their accounts; and
Permit customers to participate in any form of poker game play or gambling transaction.The Alderney Gambling Control Commission will hear the matters contained in the Hearing Notices at a Regulatory Hearing which will commence at 10.00am on Tuesday 26th July, 2011 at the Victoria Park Plaza Hotel, 239 Vauxhall Bridge Road, London SW1V 1EQ. In the event that there is a change to these details this notice will be amended.”
For now players are unable to login or play on full tilt which also means that cash outs are not possible. Full Tilt is yet to reply with a formal announcement and its website presently states ““Scheduled Maintenance In Progress – The system is currently down for maintenance. Please check back soon!”
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Dear X,
As a Moneybookers customer, you already know you are the most important part of our business. We always make sure you receive the safest service.
For this reason we have stopped accepting deposits made to Full Tilt Poker.
There are extraordinary circumstances behind this situation which are beyond our control. We will not comment on these, just take appropriate action that protects our customers.
We have requested that the Moneybookers logo be removed from Full Tilt Poker, but cannot do any more to make sure it is not displayed. Moneybookers is no longer available from Full Tilt Poker, and you will receive an error message if you attempt to use our service there.
We want you to continue to enjoy your gaming with Moneybookers, and recommend you have a look at our gaming promotion page.
As we have stated, this is an extraordinary situation, and we will try to have all connected issues resolved as soon as possible.
Should you have any questions, please contact our customer support.
Best wishes,
Your Moneybookers Team
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Poker pro Bryan Pellegrino, playing on Full Tilt despite signing with Lock Poker last month, tweeted: “my 1ks just got paused on FTP… result of this? are they ceasing operations?”
Also on Twitter, English pro Keith Hawkins said: “Full Tilt ceases operations. I guess after Black Friday, today should be called Predictable Wednesday. I hope everyone gets their money.”
And Full Tilt Poker team pro Tom Dwan tweeted “Seems like Alderney regulatory body (where ftp’s license is) just shut down ftp. Wow I think?”
Pending the outcome of a July 26th hearing, Full Tilt is no longer allowed to register new customers, accept deposits, allow players to withdraw funds or participate in any poker play.
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In light of today’s news that Alderney Gambling Control Commission has suspended Full Tilt Poker’s license, PokerStars wishes to assure our customers that their funds are completely safe and that our operations are completely unaffected. The Isle of Man Gaming Commissiontoday re-affirmed that PokerStars’ worldwide licensing is intact and that our operations are in full compliance with all of its requirements. PokerStars’ online operations continue as normal and all funds in players’ accounts are safe and available for withdrawal as usual with no delays.
PokerStars also remains in full compliance with our licenses in other jurisdictions where we are regulated, including France, Italy and Estonia.
As provided under our licensing, PokerStars has always maintained the integrity and security of our players’ funds, by keeping all such funds in segregated bank accounts, always available for immediate withdrawal.
Since the actions of US Department of Justice in April, we have returned more than $120 million to US players and continue to act upon requests as they are received. Players outside the US have not been affected and all cash-outs have been processed without delays. Further, PokerStars entered into an agreement with the Department of Justice which expressly confirmed the company’s ability to operate outside the US.
We will continue to operate as a responsible corporate citizen and are committed to serving the needs of our customers in complete compliance with our regulatory requirements.
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Update 21:45 IST: Isle of Man Gaming Commission released a statement:
“The Isle of Man Gambling Supervision Commission wishes to make it clear that the licensing status of PokerStars in the Isle of Man remains unchanged following today’s statement from the Gambling Control Commission in Alderney. Alderney is a separate jurisdiction from the Isle of Man and the operation in question is separate from PokerStars.
PokerStars continues to demonstrate compliance with its license conditions in the Isle of Man. PokerStars continues to offer withdrawals to any players who wish to withdraw their funds, including players in the USA to whom PokerStars does not currently offer real-money gaming.” -
@anuj: ok so we both posted the same update. Basically get ready for some big tournies on Poker Stars everyone!
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According to an article in The Los Angeles Times, Full Tilt Poker is about to be bought by a group of European investors, which means that U.S. players would be paid the roughly $150,000,000 owed to them. In the article, which was published yesterday, reporter Nathaniel Popper says:
“Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt’s Irish parent company, Pocket Kings.”
Popper also says that Phil Ivey, who sat out the 2011 WSOP in protest against that FTP didn’t pay their US players since Black Friday, is about to withdraw his lawsuit against Tiltware LLC and quotes Ivey’s attorney, David Chesnoff, as saying:
“Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid.”
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Dear Members,
System Maintenance is now completed. For members still facing issues with forum and blogging features, kindly clear your browser cache and cookies and re-try.
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Team PokerGuru -
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Hi Suraj,
We see the same query answered here >> https://pokerguru.in/forum/showthread.php?713-Banks-online-poker. Hope your doubts are now clear
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AGCC Full Tilt Poker Hearing Adjourned Until September 15
Today started with high expectations for all those hoping that there may finally be the beginnings of an outcome in the ongoing Alderney Gambling Control Commission/Full Tilt license suspension case. As the FTP lawyers finally faced their AGCC counterparts in London at a “public” hearing at the Victoria Park Plaza Hotel around 150 members of the press and public gathered to witness proceedings.
The hearing was of particular interest to the countless players who’s aggregated approximately $150,000,000 in deposits to Full Tilt Poker are currently awaiting withdrawal following Black Friday (and subsequently “Black Wednesday” in Europe).
The day started ominously for all those expecting, or at least hoping for, a full public hearing when Full Tilt’s lawyers, lead by Martin Heslop QC, began proceedings by announcing that they would like the hearing to be adjourned. Not only did he seek an adjournment but also that the case, when heard, should be heard in private as any “publicity would be prejudicial to the interest of justice”.
Interestingly at this early stage it emerged that FTP currently owe the AGCC $250,000 in unpaid fees and the very clear implication from FTP’s lawyers was that if they were not going to regain their license then they would most likely default on any such payment. If however, there was a chance of the license being reinstated then Mr Heslopcontended that the outstanding payments would be made within seven days.
Full Tilt’s lawyers also wanted to make their case for such an adjournment to the AGCC representatives in private and after a short deliberation this was accepted. Cue moderate outrage from the gathered press and public, the most vocal of whom was UK pro player Harry Demetriou who shouted “What about the interests of the players? Why you are protecting this corrupt company” before storming out of proceedings (before being escorted out).Demetriou’s sentiments were echoed (although in more hushed tones) by the general populous as the assembled throng were politely removed from the venue while the application was heard.
To avoid a long and rather tedious story of “non” announcements, delays, private meetings, delays, public meetings, delays and so on and so forth the upshot of all the to-ing and fro-ing was a decision to adjourn the hearing until no later than 15th September, the reason cited being that it would be “in the interests of justice and the best interest of Full Tilt customers to adjourn”.
Although the AGCC stressed that they did not enter into the decision lightly (quite obviously as it took them the entire day to finally give their verdict) one wonders why they made this hearing public at all? To the public and press it seemed fairly academic once the pre-application was underway that this would be the inevitable and predictable outcome.
Full Tilt have once again succeeded in alienating their customers who were seeking answers, explanations and assurances but who’ve only really been left wondering if and when they will see their money again.
In their Defence however one can see why Full Tilt’s lawyers were so keen to have this made a private affair. Given that the best chance of a Full Tilt bail-out seems to hinge on the successful completion of a substantial sale of FT stock to a third party investor, then it is presumably in FT’s interest in keeping the details of such a potential transaction under wraps, as in such negotiations confidentiality is naturally paramount. Although it is very, very easy to understand the frustration of the players who want answers it is probably for the best that details be kept confidential until any such deal is rubber-stamped, as this is the best chance for the players to get their money back.
I should imagine however that Full Tilt’s customers would be less concerned with the other likely reason for the Full Tilt’s lawyers pleas to adjourn and hold in private – namely that the two alleged principals of Full Tilt are facing serious federal charges in the United States and presumably feel that proceedings in public could potentially prejudice these individuals interests.
So, what have we learned from today’s “public” hearing? Well, other than FT owing the AGCC a quarter of a million in fees, frankly nothing.
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