Tapie kan geld FTP pokerpro's niet terugkrijgen

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    • noisecore
      noisecore
      Bronze
      Lid sinds: 12.04.2010 Posts: 5,221

      Originally Posted by barryg1

      I have been inundated with calls from all the poker media sites regarding this, so it's easier for me to respond in one place. Obviously, 2+2 has become the main place where people discuss online poker so I'm posting here. It would be nice if everyone who owes money discusses it openly so there is a better chance that they will make good on their debts and the money will end up in the pockets of players with balances on FTP.

      My statement to the press and the poker community:

      I borrowed $400,000 to play on Full Tilt a few years ago, before PokerStars had high stakes games. I didn’t pay it back, hoping that some people who owed me and had money on Full Tilt would pay me there so I could use that against the debt. (I'm only owed about $150,000 now). I have assumed when this case is resolved, the DOJ will allow methods for dealing with debt to FTP.

      Tapie Group contacted me last week and asked if I would pay them directly. Their attorney offered me the opportunity to pay in installments so I could have a chance to use money owed to me. He even offered me the opportunity to discount my debt if the US players don’t get paid in full. I told him that I have never paid less than I owe on any debt and I would rather wait until the DOJ establishes a fund for the US players. I don't believe my debt has any impact on the sale to the Tapie group as they have alleged. I was concerned about taking money due to US players and giving it to the Tapie Group because it is understood that the Tapie Group won't be the one paying the US players. On the other hand, I realize that the total debt counting other players is substantial, especially because I would include in that tally any money taken from FTP once it had become insolvent.

      Here is an excerpt from the letter I sent to their attorney:

      “The consensus in the poker community is that all money owed to Full Tilt or taken by investors after the company became insolvent should be used to pay back player’s funds. If I were to make a deal with you it would look like I had turned my back on the best interests of the American players.

      Even though the terms are easier for me if I deal with you and it will fulfill my legal obligation, I have to see how things work out with the DOJ and try to make good on my moral obligation to the US players. I assume at some time in the future the DOJ will establish a pool of funds from Full Tilt’s assets that will be used to pay off some percentage of the player balances that are owed.”





      Originally Posted by barryg1

      Answering as much as I can:

      1. I owe the money to Full Tilt not GBT. If I had borrowed from GBT, I wouldn't have an argument about not paying them back. I believe most people would not like me to hand it to FTP at this time. If I owed Madoff or Enron money, I wouldn't pay them either, but I would wait for a better way to settle the debt.

      2. I admit it's somewhat self-serving and buys me time not to pay now. It also gives me a chance at getting money transferred (in the event that accounts are not paid back in full) from other people.

      3. In answer to why someone would owe money for so long and not pay: In addition to borrow money online, I have had lots of credit lines from casinos. At one point I owed over 3 million with no interest. I didn't lose most of it, but often used it to play and invest (and sometimes lose in that way.) I paid the casinos off, but Full Tilt was last because I had no pressure to pay.

      4. I agree that the entire player base deserves to get paid. As people have mentioned, it looks to me like the ROW will be taken care of if the deal goes through, so the US players need some source of funds. If the deal doesn't go through, my money should go into a fund for all the players worldwide.

      5. I wasn't forthright about my debt until I had no choice because it would be embarrassing since I'm sponsored by PokerStars. I knew it would eventually come out and I could have done things to prevent it after Black Friday, but I thought it would be worse if I settled the debt in a way that resulted in the money being flushed down the drain just to avoid embarrassment.

      6. Regarding US players not being paid in full: I assume that the US players will be paid out of money the DOJ gets from the sale, from seizures, and from debt repayment, minus what they keep. I have no real knowledge other than that, but if I plug in my best guesses I come up with less than is owed to the players, unless we get a surprisingly benevolent DOJ decision.

      7. Even though I have many detractors in this thread, can you at least cut me some slack that I am doing the minimum of what is expected from people who owe money in the gambling world: I am admitting exactly what I owe (it's actually 382k) and I am stating my intention to pay it back. I think it will be beneficial if this trend continues.