Petitioners Included in the Upcoming Distribution.
GCG has been informed that the Department of Justice Asset Forfeiture and Money Laundering Section has approved a new round of payments, which will mark the commencement of payments to Petitioners who have disputed their FTP Account Balances. In addition, payments will be made to Petitioners who have confirmed their FTP Account Balances and recently cured deficiencies. In all, the distribution will include approximately 3,500 Petitions totaling approximately $2.8 million.
Disputing Petitioners who are being paid this month met one of the following established criteria approved by the Department of Justice: (i) a dispute of $500 or less, or (ii) a dispute between $500.01 and $2,000, if the difference between the FTP Account Balance and the disputed amount is 20% or less. All other Petitions with disputed amounts are still under review and, if found to be valid, will be paid in upcoming distributions.
Information about Payments and Bank Testing
GCG is currently working with the bank selected by the DOJ to set up the payment process. GCG expects to issue payments via ACH by the end of March 2015 and will post further updates on the payment process as they become available. As part of the process of preparing this next round of payments, shortly before payments are issued, Petitioners who are approved to receive payment may notice a zero-dollar transaction in their bank account statement that relates to the Full Tilt Poker Claims Administration. Please be aware that this is a normal part of the bank testing process in preparation for payment of ACHs. However, not all banks post these notices during the testing process, so do not be concerned if you do not receive such a notice and believe you are eligible to receive payment in the upcoming distribution.
Please be advised that there are Petitioners who are eligible for payment in the upcoming round of payments, but who have a delinquent debt qualifying for collection through the Treasury Offset Program. Payments for these Petitioners will be reduced in order to satisfy their debt in part or in whole. A notice will be sent to these Petitioners in the upcoming weeks and will include a Unified Financial Management System Vendor Request Form, which must be completed by the Petitioner in order to receive the balance of his or her payment. Please note that Petitioners who were previously approved for payment and were notified that they had a delinquent debt qualifying for collection through the Treasury Offset Program, but who still have not returned a completed form will not receive payment until a completed form is submitted.
Please continue to check this website for updates regarding the payment process and this administration.