One of the nine Full Tilt Poker bank accounts frozen by the The US Department of Justice in the “Black Friday” indictments has been released, freeing up more than one third of the $100 to $150 million believed to be owed to US based poker players.
According to one source, the bank account belongs to Full Tilt Poker and company co-founder Raymond Bitar, and contains around a third of the money owed to American users of the popular poker site. However, an unknown Full Tilt Poker source has claimed that the money will not be used to make any player payments.
Representatives of Raymond Bitar are believed to have been seeking up to $150 million worth of investment into the company, in order to pay off the American based poker players, but these attempts have yet to bear fruit. Full Tilt Poker are also known to be in discussions with the Attorney’s Office for the Southern District of New York, with regards the release of further bank accounts.
The source said of the repayment problem: “Because of the broad-sweeping nature of the Black Friday seizures, you had a seizure combined with a backlog and this has resulted in millions which all of a sudden became owed.”
“There are a lot of factors involved,” added the source. “Some of that is the … status of negotiations with the Southern District. All of [the] issues together contribute to creating an impediment to paying players back, an impediment which wouldn’t be there if each of those things didn’t exist.”
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