The Wall Street Journal reported this week on the progress being made by the French investment group, who wishes to purchase Full Tilt Poker, with the US Department of Justice. According to an attorney with the Group Bernard Tapie, his client is close to securing an agreement with the US authorities that will allow Laurent Tapie and his group to gain control of Full Tilt Poker’s assets and resume the site’s operations outside the borders of the US.
Behnam Dayanim, the attorney, said that the deal has still not been completed. “We have an oral agreement that is in the process of being reduced to writing and expect to resolve all outstanding issues,” he said.
Analysts believe that the group will try and settle a civil case brought against Full Tilt Poker online poker room by the Justice Department. The government shut down Full Tilt’s business, along with Poker Stars and UB.com on April 15th, indicting executives at all three companies on criminal charges. According to the government, the companies engaged in a multitude of crimes, ranging from money laundering to fraud and illegal gambling operations.
Full Tilt Poker has made almost no progress in paying back the millions owed to its players, unlike Poker Stars which was able to pay back the money owed almost straight away. The US government estimates that Full Tilt Poker owes players from around the world about $300 million.
An attorney for Full Tilt Poker, Barry Ross said: “We have made significant progress towards a settlement but there are still issues to be resolved.”
The Department of Justice would not comment to statements made by Dayanim or Ross.
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