This story was published more than 12 years ago.
Full Tilt Poker lawyer Jeff Ifrah says that a French investment group has been negotiating with the troubled poker site for weeks, this after reports by the Wall Street Journal claimed that two other investment groups jumped out of negotiations following new accusations that were made by the U.S. Justice Department.
Subject Poker.com broke the story, with Ifrah sharing that a letter of intent has been executed and research has been done into the potential investor's funds. Any potential agreement between Full Tilt and the French investment group would provide the funds needed to repay funds that are owed to Full Tilt players.
Ifrah stated that both the U.S. Department of Justice and the Alderney Gambling Control Commission have been made aware of any developments in negotiations with potential investors. He also stated that the potential investors would hope to negotiate a settlement to any fines levied by the Justice Department and settle the financial complaint that the U.S. government has filed against Full Tilt and its parent companies.
The investment company has thus far opted to remain anonymous, and will reportedly decided to remain so until a deal is reached by all parties. Also, Full Tilt was granted a 30 day extension by the AGCC while negotiations with potential investors continue.