Full Tilt Poker account unfrozen

This story was published more than 12 years ago.

Industry observers report that a Full Tilt Poker bank account at the Bank of Ireland has been released by the US Department of Justice (DoJ).

Monies held in the account allegedly amount to over a third of the estimated $100 million to $150 million owed to players revealed an unidentified Full Tilt Poker source to industry publication egr magazine.

Full Tilt Poker co-founder Raymond Bitar has reportedly been seeking investors outside of the financial services sector to cover the amount owing in return for a stake in the company but with little success.

The unidentified source added that numerous factors are involved with refunding players' funds including a $60 million backlog referenced in the Franzen case, banks that voluntarily restrained funds and the status of negotiations with the US Attorney's Office for the Southern District of New York .

Full Tilt Poker is reportedly in discussion with the Federal authorities on the release of further accounts across Europe.

Source: InfoPowa News