DOJ Proposes Absolute Poker/UB Settlement
Overshadowed by today’s news of the the settlement between the DOJ, PokerStars and Full Tilt Poker was the US Attorney’s Office proposal to also settle the outstanding legal action against the companies that comprise Absolute Poker and Ultimate Bet.
The agreement calls for the forfeiture of all assets belonging to a group described by the DOJ as “Absolute Poker-affiliated parties.” If the Court approves, the US Government will then liquidate the acquired assets with the net proceeds benefiting those with claims against the group.
Currently it is unclear what parties hold claims against the group, in what order those claims will be satisfied and where players are on the list of claimants.
According to PPA Board member and Litigation Support Director Patrick Fleming, “AP/UB players are in a weaker legal position than FTP players.” Fleming considered the lack of fraud charges against Absolute Poker or UB as a possible reason players may not be classified as “victims” as they were in the Full Tilt Poker situation. However he acknowledged, “they pretty much did the same thing: promised you your money was safe but never repaid it after [Black Friday]. Hopefully the DOJ will see AP/UB players as 'victims” and let them enter the remission process too.”
Full Tilt players—both in the US and outside—can expect to be repaid in full over the next few months thanks to $700m+ settlement with PokerStars.
Of the 11 men named in the Black Friday indictments, PokerStars’ Isai Scheinberg and Paul Tate, Full Tilt Poker’s Nelson Burtnick and Absolute Poker’s Scott Tom still remain at large. However the DOJ cautions, the charges and accusations against them are allegations and they are presumed innocent unless and until proven guilty.”