RIP FTP ??

Certainly interesting news.
As of now you cannot log into the site.

Is this the end of Full Tilt?
Can confidence ever be restored?
Will people ever see their money again?

The Alderney Gambling Control Commission has suspended Full Tilt Poker’s license to operate, according to a release from the commission.

The statement from the AGCC can be found here.

Here’s what the statement says:

Alderney Gambling Control Commission (AGCC) has today issued Hearing Notices under Regulation 46 of its Regulations to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, collectively trading as FULL TILT POKER.

In addition, AGCC has issued Suspension Notices under Regulation 47 to the above named companies requiring them to suspend all operations with immediate effect.

The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General’s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation. The nature of the findings necessitated the taking of immediate action in the public interest.

The venue and date for the hearing will be announced in due course.

A 2+2 thread here confirms that Full Tilt servers went down soon after the statement was issued.

Update: A new statement from the AGCC has set a hearing date of July 26th for the matter of Full Tilt’s license. You can read that statement here.

In addition to the date of the hearing, the statement notes the terms of Full Tilt’s suspension:

The above named companies must, until the Suspension Notices are cancelled or the Commissioners of AGCC have reached a determination at the conclusion of the hearing convened in accordance with Regulation 46 of the Alderney eGambling Regulations, 2009 cease to exercise their eGambling licenses, which means that these licensees must from today cease to:
– Register new customers;
– Accept deposits from existing customers;
– Allow existing customers to withdraw funds that are held in their accounts; and
– Permit customers to participate in any form of poker game play or gambling transaction

http://betting.betfair.com/poker/poker-news/full-tilt-poker-loses-license---players-set-to-los-290611.html

Here is our take on events!

Shame, FTP the best software by miles about a million in front of ongame.

BFPPR,

Have you considered asking ongame to bid for the FTP software as i'm sure you will soon be able to get it cheap off the liquidators! [;)]

As of now you cannot log into the site

BF/Ongame too........

HF - I was actually thinking the same thing.
I reckon someone will buy software and have to re-name it as their brand has been rubbished and re-launch under new name.

I was just thinking the same thing about buying ftp software, great minds think alike    I was looking forward in particular to rush poker, another reason to buy the software.  Lets face it, nearly all the gripes from us are  about the software and think of all the customers you could get who are used to the site and will miss it desperately.

It wouldn't take betfair long to screw it up ;)


Very bad news for those with large sums of money with FTP.

BetfairpokerPR, please tell us how our funds at BF are safe in the event of BF going t1ts up.

No problem.

here is our policy as outlined in our customer charter



.2 Your money and the Company's money is separated so your funds are safeguarded.

Betfair holds customers' money in separately managed bank accounts which means your funds are safeguarded independently of our corporate funds under the terms of a Trust Deed. The Trust Deed is available on the website and can be viewed here

Here is the link to the deed
http://www.betfair.com/IRL/aboutUs/Trust.Deed/

Full Tilts players funds were meant to be 'Ringfenced'. It matters not if corruption or mis management uses/spends/launders these funds.

So like with most gambling sites, you deposit your money and you take your chances.

Personally i'd keep the absolute minimum required on any gambling site.

Oops I withdrew $20,000 from FTP two weeks ago and got the lot, I have like ten cents left in there (but lots of points ffs). Pokerstars is the only decent poker site in the world. Betfair keep trying to capitalize on FTP problems yet themselves use software that constantly goes down!

That's very lucky for you

I'm taking the Alderney G.C's statement to mean they're taking exception to Full Tilt's payment processor shenanigans, so, depending on how bad Full Tilt's finances are, this seems surprisingly decisive by Alderney, given that Star's regulators have given them a pass, even though both FT, and Stars, were using the same processors, according to the DOJ indictment.

Wonder how this would have played out in the Isle Of Man , Kahnawake or Malta.

Poker Stars in conjunction with Isle of Man Gaming Authority have just released this statement

http://www.pokernews.com/news/2011/06/breaking-news-full-tilt-poker-license-suspended-by-agcc-10629.htm

As if FTP players are gonna rush to 1980s ongame LOL  PokersTars  Really the only place to play online poker.

I withdrew nearly $500 a couple of weeks ago leaving just $60 odd in there, thank goodness I did!

Not so long ago, I had several thousand in.

Thanks very much Ovalman, after reading your post a little while back I took out almost everything I hand in there. Much appreciated.

I suspect that eventually, it will reopen and people can access their funds, but how long that will take is anyone's guess!

* I had in there

Just to show how badly I run...

Hasven't won a sausage for ages, last night actually won a few dollars on Full Tilt and today it closes.

looks like I have nil chance of getting my $0.13.
My 'zero' to $10,000 ferguson challenge attempt is over.

Or are full-tilt pros claims starting to force the issue?

No, they're busy forcing the safe.

Heard Full Tilt are gonna try renew there license in 8 weeks somewhere else. (good luck). Lost a few hundred but cant say this is surprising. If Lederer had any brains, he'd be hiding out with the armish.

With all this censorship online happening, I pray they don't take away my porn. I need that.

Johnjamespreston are you being serious about pokerstars being the best site???
Played on there last night after fulltilt going down and couldn't believe how bad the graphics are!!
Also the sound is truly bad!!
Do they ever do updates because that lobby seriously needs changing!
Had a lucky escape tho because i thought i would give Betfair another chance, but after 30 minutes of trying
couldn't log in!

Has anyone come across a site that is anywhere near as good as old betfair and fulltilt?
Does any site have a find a player that is as good as betfair's used to be?

guys i withdrew some money on Tuesday and it has been approved but obviously havent received it yet. What are your views in regards to whether I will actually receive this money?

plus I have a little bit left in there. Do you think I will ever receive this money back?

I dont play with any sound. Graphics on stars are fine for me. You can adjust lobby layout and settings etc. Ftilt are scum, second Ivey jumped ship was obvious. He had knowledge general public never.

Stars is the best software by far, you can change themes decks do what you want , for multi/tab it is the best, cashouts are fast and customer service is the best

Stars fan here too.
Not played on FTP for years.

Also agree the old betfair was the best. Simple and clean graphics and as Apocolyse says the best find a player function around.

213....i withdrew at 2am tuesday and it arrived in my bank this morning

I personally much prefer(ed) FTP to Stars.

I think Rush poker was just fantastic, it brought back the enjoyment element for me.  I think the software and graphics were the best but it is all down to taste and there are plenty of people I respect who prefer Stars for me to think otherwise.

Froggitt

BetfairpokerPR, please tell us how our funds at BF are safe in the event of BF going t1ts up.


BetfairPokerPR

No problem.

here is our policy as outlined in our customer charter

.2 Your money and the Company's money is separated so your funds are safeguarded.

Betfair holds customers' money in separately managed bank accounts which means your funds are safeguarded independently of our corporate funds under the terms of a Trust Deed. The Trust Deed is available on the website and can be viewed here


JPJ

Full Tilts players funds were meant to be 'Ringfenced'. It matters not if corruption or mis management uses/spends/launders these funds.

Good point JPJ.

BetfairpokerPR - the trust deed etc would be strengthened significantly if there was a clause along the lines of "in the event of any shortfall in customer funds, directors are personally responsible for making good that shortfall". That provides a significant incentive for directors to ensure funds are not mismanaged.

thanks coyi.. I withdrew my funds around 2pm Tuesday and still havent received anything... I assume I wont see them now [>o]

[:(]

I reckon you will see them, but may well have to wait a while.

The thing that's annoying is the fact that it let me withdraw the funds which left my fulltilt account empty. Because it let me go through the normal process I was hoping I would receive these funds.... obviously not [:o]

Here's the latest if anyone is interested.

Wednesday
July 13, 2011In a press release dated 12th July 2011 the Alderney Gambling Control Commission (AGCC) revealed its scheduled hearing in London regarding the suspension of Full Tilt Poker's license will be a public hearing to be held at the Park Plaza Victoria Hotel at 10 am on 26th of this month.

Full Tilt's license has been suspended by the AGCC since June 29th "following an indictment by the US government and its subsequent failure to satisfy AGCC that its activities inside and outside the US were in order". Since this time Full Tilt have been in discussions with the AGCC regarding a potential refinancing of the site involving an as yet unnamed third party.

Whatever the nature of these discussions and any other business the AGCC have had with the owners and representatives of Full Tilt Poker, all will be revealed in just over a fortnights time as all are welcomed in to witness the outcome of the hearing.

Executive Director of AGCC, André Wilsenach, said: “AGCC’s choice to hold a public hearing in to the future of Full Tilt Poker demonstrates our willingness to act transparently and we will welcome members of the public and the media. As ever at all times, our primary concern is the protection of the player

Which reminds me......

BetfairpokerPR - the trust deed etc would be strengthened significantly if there was a clause along the lines of "in the event of any shortfall in customer funds, directors are personally responsible for making good that shortfall". That provides a significant incentive for directors to ensure funds are not mismanaged.

Any chance this could be proposed to BF management?