Joined: Mar '08
Location: United Kingdom
Age: 44 (M)
Posts: 6714
"In late april (25th i think?) I went to ireland because friends of mine were debating buying ftp. I was pretty adamant that i didn't want to be included in any nda [non-disclusure agreement], and that ftp didn't really have a choice except to trust me. I say that because i had enormous bracelet bets that would've more than doubled my net worth (counting equity on the 2 in 3yrs bets), and i got 2nd in a 1500nl. not to imply that the guy who won had bad morals or anything (he seemed nice), but its likely that i could've paid him off if i wanted to be a scumbag- and a bunch of those bets were against ftp owners, so they really shouldn't have had a choice except to trust my judgement. however much to my dismay i was included on my friends nda without being personally liable. normally nda's aren't enforceable, but seeing as i was paid a bunch by ftp/ member of team ftp etc. it wasn't fair for me to risk a huge amount of my friends $$ on this (way more than i could hope to ever cover from poker). obviously if this was just my own $$ i would've gambled it up, fought any potential lawsuit (probably won) and felt better about it. but the thought of grinding 1$/2$ for the next 800 years didn't sound very fun.
For the last 4 months I've been constantly bothered by the elephant in the room, and obviously if i addressed some issues while not addressing the most important (pertaining to the elephant) it'd come off pretty scummy and make people question ftp even more/ be bad for players. however now that the doj has outted that elephant, i think theres just about nothing i won't be able to answer (except stuff in the doj release and thats easy enough to find).
As far as i know there was 1 extremely bad decision made (the right decision would've been to stop processing to us players while still allowing them to play on the site), and a slew of terrible decisions made trying to avoid owning up to the 1st bad decision. What should've been an annoying problem after a few weeks, turned into a ****ty problem, then a really ****ty problem, and then a gaping hole capable of killing the company. Even after april 15th there were many poor decisions made, but the good news is that as far as i know (and i try to check everything i can from ftp about 18 different ways) for the last 2 weeks its been managed pretty transparently and well. before that it was in talks with an investor for about 2 months so there wasn't much opportunity for mismanagement, and as far as i can tell (again i tried to vet this a bit), there wasn't much.
If ftp doesn't pay I'll pay back everything i was paid. I dunno the best way to do this, but it'll be a very transparent process.has suggested a 1m freeroll
I currently owe ftp $$ that i'll be paying back (in addition to the other $$ ill be giving) either to the players or a liquidator (if they go bust) or to any person who's buying ftp (and paying all the players- if they stiff some this $$ will go to those players). I almost paid ftp this $$ after black friday, and i'm really happy i didn't because i think the players deserve it. obviously if given good reason (deal which i believe is likely and they need operating costs for an extra week or w/e) i may give this to ftp- basically i'll do w/ it w/e i think is best for the players- this may not be quite as transparent but i'll try (only wouldn't be if i thought it wasn't in players best interests). "
Tom Edit: If I had to estimate the worth of Full Tilt Money, I'd say between $.15 and $.40 on the dollar. "
Joined: May '09
Location: India
Age: 37 (M)
Posts: 4873
i think we need cliffs , im too tired to make sense out of this only thing that i can understand is fulltilt are screwed badly, which we already knew. and AGCC are yet to announce the result
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Yea stopped reading this half way. Doesnt matter anymore reading articles and opinions about Full Tilt. Even the last news about the so called ponzi scheme its useless for me. The only thing that matters is : Are they going to open and when. Thats the news everyone is interested to hear.
Joined: Jun '11
Location: United Kingdom
Age: 52 (M)
Posts: 1332
it seems very fair on Durrr,s behalf,at least hes got the stones to step up to the plate,but even if hes due $'s to Full Tilt shouldnt it be Lederer and Ferguson( that apparently skimmed $15-40mill of the site in a 3 year period)saying they want to pay the players back?
Joined: Mar '08
Location: United Kingdom
Age: 44 (M)
Posts: 6714
I agree @callie28, but only kind off, heres an analogy of my view of Durrrr and others ...people walk down the street and walk around the dog turd, Tom steps in it and keeps walking knowing its on his shoe, people start pointing out he smells and has trodden in turd, thats when he decides to wipe it clean. I can't fault the fact he has said he will dip in to his pockets, and seams to be the only one trying to make amens, but its a long time after he dipped in to mine. In my honest view, in light of what he has said he should be up for association and would be much better doing what Ivey is doing and keeping his mouth shut.
Joined: Jun '11
Location: United Kingdom
Age: 52 (M)
Posts: 1332
think you are right B1gfoot,just read what little there is about Gus Hanson and what was the point in him saying anything?????nice analogy by the way.....
Joined: Oct '09
Location: Spain
Age: 60 (M)
Posts: 2851
Bla bla bla....bla bla...
Guess it´s all coming out now....slowly... Didn´t think it would get this bad, but now it looks like it´s just going to get worse. Was really hoping to be playing again sometime soon. Now it looks like sometime never.
Going to read some more posts first, haven´t been around much. pffff...oh joy...
Joined: Apr '09
Location: Portugal
Age: 44 (M)
Posts: 4827
A 1 million dollar freeroll it would be something to laugh. One can think it would be nice to try to win it, but we are talking about the payment owed to everyone divided in a couple of prizes. When a company owes money to 100 workers, they have to pay all of them, and a lottery with a prize of all the money owed is not a solution.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
It seems that we are gonna add Full Tilt in the list of sites with fraud and scamming. Somehow having in mind the story with FT and seeing Tony G in tele Last night i remembered the T6 Poker, another big scam in Poker world.
