Full Tilt Poker to Open .EU Site; DOJ to Announce FullTilt Player Remission “Soon”

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A Full Tilt Poker spokesperson announced recently that the site would soon be launching a new FullTilt online poker room at .EU.

Coming soon to FullTiltPoker.eu, the site is expected to offer all the same game profile, features and promotions that the old FullTiltPoker.com offered. PokerStars, the new owners of FullTiltPoker, already has experience in this area, having successfully launched its PokerStars.eu branch back in February of 2011. When that site launched, PokerStars phased its players from Finland, Germany, Netherlands, Poland, Romania, Slovenia, Sweden, and other countries from pokerstars.com over to pokerstars.eu. It is expected that this is the same thing they will do with fulltiltpoker.com and fulltiltpoker.eu.

The difference between the two boils down to one thing: licensing jurisdiction. .EU websites are lienced in Malta while .COM websites are licensed on the Isle of Man.
It appears this may be a tactic to help players avoid paying income taxes on cash prizes they win at these sites. By switching licensing jurisdictions from the Isle of Man to Malta, players in such countries as those named above (those who would be switched from a Full Tilt Poker .COM membership to a Full Tilt Poker .EU membership) may be able to enjoy tax-free online poker winnings.

Meanwhile, the Department of Justice is behind schedule in announcing remission plans for the some 1.3 million former U.S. players at Full Tilt Poker who haven’t seen their funds from those accounts, totalling some $159 million, since April of 2011. But they have said that announcement can be expected soon. We’ll bring it to you here when it happens.

Source: PokerFuse

Class Action Suit against Full Tilt Poker

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Former United States Full Tilt Poker players have filed a class action lawsuit against just about anyone they could think of associated with Full Tilt Poker.  Filed in the notorious U.S. District Court, South District of New York.  the suit names four plaintiffs (Nick Hammer, Steve Segal, Todd Terry, and Robin Hougdahl).  However, the suit states it is on behalf of themselves and all others similarly situated.  The people and companies the suit is filed against is open-ended, and is worded in a way that more defendants can be named at a later date.

Some tidbits to mull over:

Some people specifically named in the suit;  Raymond Bitar, Nelson Burtnick, Howard Lederer, Phil Ivey, Chris Ferguson, John Juanda, Jennifer Harman, Phil Gordon, Erick Lindgren, Erik Seidel, Andy Bloch, Mike Matusow, Gus Hansen, Allen Cunningham, and Patrik Antonius.

For the legal geeks:  “All Defendants, by virtue of their control and ownership of the Full Tilt Companies that comprise the Full Tilt umbrella, and/or their ownership stakes in the umbrella undertaking, are liable for conversion of Plaintiffs’ and class members’ monies and assets (the “property”) held in Plaintiffs’ and class members’ Full Tilt Player Accounts. The Player Accounts and the property therein are currently and wrongfully in the exclusive custody of the Defendants.”

“represent a nation-wide class of Full Tilt account holders residing in the United States . . . Plaintiffs bring suit to demand return of U.S. player funds and for damages . . . U.S. Players’ would never have suffered injury, but for the Defendants’ widespread scheme to commit wire fraud, bank fraud and money laundering in order to pad their own pockets.”

It remains to be seen what impact this will have on any possible sale/bailout.  It seems odd that no one else seems to be reporting more details or rumors about who these “European Investors” are.   The only information to come out is the LA Times story.  Usually rumors swirl and secrets are never kept well in the poker business.  The lack of new information seems to call into question what is actually going on with that whole story.

As always, Holdem Poker Chat is your source for any breaking news from the poker world.  Check back often for development on this and any other news on your favorite game

Full Tilt Poker has Suspended Real Money Play in the US

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Full Tilt Poker just released a statement regarding Friday’s indictment by the U.S. Department of Justice announcing that it is suspending real money play for USA players until the situation is resolved.

Click here for Poker Sites Accepting Players from the US

Full Tilt Poker™ Supports Poker Players And Its Chief Executive

Dublin Ireland (April 15, 2011)- Full Tilt Poker is saddened by today’s charges against its CEO Raymond Bitar and offers its full support to Mr. Bitar and Nelson Burtnick.

Online poker is a game of skill enjoyed by tens of millions of people in the United States and across the world. And, Full Tilt Poker remains as committed as ever to preserving the rights of those players to play the game they love online.

Mr. Bitar and Full Tilt Poker believe online poker is legal – a position also taken by some of the best legal minds in the United States. Full Tilt Poker is, and has always been committed to preserving the integrity of the game and abiding by the law.

“I am surprised and disappointed by the government’s decision to bring these charges. I look forward to Mr. Burtnick’s and my exoneration,” said Mr. Bitar.

Unfortunately, as a result of this action, Full Tilt Poker has decided that it must suspend “real money” play in the United States until this case is resolved. However, Full Tilt Poker will continue to provide peer-to-peer online poker services outside of the United States.