FullTilt Poker Bank Account Unfrozen

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Reports are surfacing that the US DOJ has unfrozen a major bank account belonging to Full Tilt Poker and co-founder Raymond Bitar. According to a story broken at egaming review, the account contained about 1/3 of US players deposits, estimated at $100m-$150m US dollars.

Although this is good news, and it is great to see some progress, the article claims US players are not going to immediately see any money. The article goes on to paint a dismal picture for FTP, and their failed efforts to raise capital.

It has been known FTP failed to collect around $60m in deposits, as a result of crediting accounts for money it could not collect at the time. But the article also notes FTP has had trouble continuing business with other banks, as they feared US DOJ reprisal. It is claimed the DOJ had to actually contact the banks, and advise them it was acceptable to conduct further business with them.

The article really gives one a prospective of the myriad of problems for FTP. Lets hope this gets worked out soon, because players just want their money back.