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Facing charges of money laundering and bank fraud, Full Tilt Poker, the world’s second largest online poker room, was forced to shut down on Wednesday by the Alderney Gambling Control Commission. European players attempting to log into their accounts Wednesday afternoon were no longer able to do so.
A look at the PokerScout.com traffic monitoring website indicted that Full Tilt Poker had zero real cash players as of 10 am EST Wednesday. The company was averaging 9000 real cash players.
In light of this, PartyPoker was expected to take over the number two spot in terms of biggest Internet poker rooms in the world, however, the iPoker Network was only a mere 100 players under Party’s weekly average and the two rooms could exchange positions over the next two weeks. Neither Party or iPoker have operated in the US market for the last several years. Both companies enjoy solid reputations overall. iPoker, in fact, is home to William Hill, the Gambling911.com endorsed online poker room and largest bookmaker in the United Kingdom.
Full Tilt Poker had stopped paying out US customers as of April 15 following the indictment by federal officials. Customers have waited more than two months to get paid despite the US Attorneys Office out of the Southern District of New York allowing FTP a means of paying its US customers. The company has yet to offer an explanation why it was unable to do so, leading to speculation that Full Tilt could be insolvent. PokerStars, another company indicted as part of the complaint, has paid its US players in full and continues to operate worldwide without a hitch.
Gambling911.com has been covering reports of payment delays across the globe including Canada and the world’s 6th largest poker playing nation of Brazil. Just this week, G911 reported on how Moneybookers threatened to cut off FTP for its “selective withdrawal process”, cutting off players in certain countries without due reason.
The statement from Alderney appears below:
The full statement from the regulator is:
“In the matters of:- VANTAGE LIMITED OXALIC LIMITED FILCO LIMITED And ORINIC LIMITED Alderney Gambling Control Commission (AGCC) has today issued Hearing Notices under Regulation 46 of the Alderney eGambling Regulations, 2009 to the above named companies who collectively trade as FULL TILT POKER.
In addition, AGCC has issued Suspension Notices under Regulation 47 of the Alderney eGambling Regulations, 2009 to the above named companies requiring them to immediately suspend operations.
The above named companies must, until the Suspension Notices are cancelled or the Commissioners of AGCC have reached a determination at the conclusion of the hearing convened in accordance with Regulation 46 of the Alderney eGambling Regulations, 2009 cease to exercise their eGambling licenses, which means that these licensees must from today cease to:-
Register new customers; Accept deposits from existing customers; Allow existing customers to withdraw funds that are held in their accounts; and Permit customers to participate in any form of poker game play or gambling transaction.
The Alderney Gambling Control Commission will hear the matters contained in the Hearing Notices at a Regulatory Hearing which will commence at 10.00am on Tuesday 26th July, 2011 at the Victoria Park Plaza Hotel, 239 Vauxhall Bridge Road, London SW1V 1EQ. In the event that there is a change to these details this notice will be amended.
André Wilsenach (Executive Director) Alderney Gambling Control Commission Alderney, Channel Islands"
- Chris Costigan, Gambling911.com Publisher
