Absolute Poker Players to be Reimbursed Six Years After Shutdown

Written by:
Guest
Published on:
Apr/12/2017

The US Justice Department has announced that those affected by the shutdown of Absolute Poker in April 2011 will be eligible for reimbursement.

It was nearly six years to the day (April 15, 2011) that Absolute Poker was forced to cease conducting business with American customers by the US Justice Department following a lengthy investigation into money laundering and bank fraud.

Full Tilt Poker and PokerStars were also forced out of the US market.  The Justice Department eventually was able to ensure payments to those affected by the Full Tilt Poker exit while PokerStars paid its American customers in full.  Presumably the newly announced arrangement will include those players affected by the shutdown of Absolute Poker sister site UltimateBet as well.

Affected players can submit their claims through a dedicated website www.absolutepokerclaims.com :

    It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players' last known account balance with Absolute Poker (the “Account Balance”). Note that an alternative calculation methodology will be applied to players who have been designated as “Affiliates” of Absolute Poker and to professional players. Account balances from online poker sites other than Absolute Poker are not included in this remission process.

    Petitioners must also meet all other requirements outlined in 28 C.F.R. § 9.8 to be considered eligible for remission.  If the forfeited funds available for distribution equal or exceed the aggregate Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her Account Balance or approved loss amount.

    If the aggregate Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.  Please continue to check this website for updates regarding this administration.

- Ace King, Gambling911.com

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