Full Tilt Poker: New Class Action Suit Filed

Former Full Tilt Poker players looking to recoup their lost player account funds filed a class action suit in Las Vegas against the company’s directors, Howard Lederer and Chris ”Jesus” Ferguson. The players are claiming that they’ve been unable to access their funds due to Lederer and Ferguson’s actions.
In plain terms, the players are echoing the same Global Ponzi Scheme allegations made by the Department of Justice (DOJ) against the company when it shut them down last year. The suit seeks payment of the lost player accounts from the two men accused of using that money as a person slush fund.
Get In Line
Anyone hoping to get money out of the Full Tilt defendants is probably going to have to wait in line for a while. The beleaugered defendants are already facing at least four other lawsuits for their actions in the case.
Some of the cases are aimed at specific former Full Tilt employees, while others are directed at the company itself. This same suit was filed last year in a New York court, but that court was found to lack jurisdiction. The global scale of the case has added additional layers to an already complex case.
Full Tilt Poker: What Went Wrong
Federal Government a Plaintiff, Too
One of the plaintiffs filing suit against the company is the U.S. Government itself. The Feds allege that Full Tilt directors knew that the company only had $60 million on hand, but had over $390 million in player accounts.
Dealings with the government delayed the sale of the company to the Group Bernard Tapie (GBT) who are looking to bring the site back to life. GBT is in the process of making a deal with the Feds to refund funds from American player accounts. Though it’s believed that the deal is close a settlement, no official word has been announced.
Finally
As of this writing, none of the defendants had made official comments on the new court filing. But, given the number of suits they’re facing, they may not have much time to write up press releases.
It’s been a year since Black Friday rocked the online poker world but the hits just keep coming. Affiliates should keep an eye on the status of player account suits because the sooner they’re settled, the sooner these sites could go back online.
Do you think that Full Tilt player accounts will ever be settled? Share your opinion with us on the Online Gambling Laws and Regulations Forum.