Barry Greenstein to Pay Back Full Tilt Poker Loan

Poker pro Barry Greenstein has agreed to pay back a $400,000 loan made to him by Full Tilt Poker prior to last year’s indictment against company officials and subsequent closure.  This past week, the US Government entered into a deal with PokerStars that allows the world’s largest “real money” online poker site to acquire Full Tilt Poker and all its assets.

From PokerNews.com:

Greenstein's debt to Full Tilt Poker was made public by Groupe Bernard Tapie in February. According to GBT attorney Behnam Dayanim, Greenstein and several other high-profile pros borrowed a combined $18 million from the embattled poker room before it was shut down on Black Friday. The debts were discovered while GBT was investigating Full Tilt's financial situation before purchasing the company.

"I was always going to have to pay whoever owned Full Tilt," Greenstein said in a thread at TwoPlusTwo.com this week. "Clearly, PokerStars will own Full Tilt in a few days or a little longer, and finally I will know who to pay. I'm curious if they will try to collect from anyone else."

A number of other Full Tilt Poker pros were also said to have borrowed heavily from the company, including Phil Ivey.

- Nagesh Rath, Gambling911.com