Full Tilt Poker Operations Suspended Indefinitely

by Punter's Hero on June 30, 2011

in Latest News, poker

Earlier this morning, the Alderney Gambling Commission known as the AGCC suspended the licenses held by Full Tilt Poker under which the online poker site operates. All operations have been suspended effective immediately.

The AGCC released a statement that included the following: “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.”

Preliminary reports conclude that Full Tilt Poker tables worldwide came to a halt early this morning.

This is a direct result of the April 15th Black Friday indictments, which suggest that Full Tilt Poker was not operating under the terms of their Alderney licensure. A hearing venue and court date will be announced as the investigation proceeds. Full Tilt Poker subsidiaries including Vantage Ltd., Oxalic Ltd., Orinic Ltd., and Filco Ltd, collectively operating as Full Tilt Poker must “cease to exercise their eGambling licenses.” This means that until further notice, they can no longer register new players, accept deposits from existing players, allow any withdrawals from player accounts, or allow any gambling or poker transaction or participation via Full Tilt Poker.

Executive Director of the AGCC André Wilsenach said, “The decision to suspend the eGambling license was in the public interest and, because of the seriousness and urgency of the matter, it required that immediate action be taken ahead of the regulatory hearing.”

There has been no word from Full Tilt Poker other than a message on their site that states: “Scheduled Maintenance In Progress – The system is currently down for maintenance. Please check back soon!”

PokerStars has issued a statement though, assuring players that they have been operating under the terms of their license that is issued out of Isle of Man, which is a different jurisdiction; therefore, PokerStars players are allegedly safe.

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