On Wednesday, the Poker Players Alliance (PPA) had reported that the Department of Justice completed its audit of Garden City Group (GCG) petitions and approved the release of $82 million in funds to approximately 30,000 players.
On Friday afternoon, and GCG released the following update on its website, FullTiltPokerClaims.com:
"GCG has been informed that the Department of Justice Asset Forfeiture and Money Laundering Section has approved the first round of payments. This distribution will include approximately 30,000 Petitions totaling $82 million submitted by Petitioners with timely, complete Petitions, who confirmed their FTP Account Balances. GCG is currently working with the bank selected by the DOJ to set up the payment process. GCG expects to issue payments via ACH before the end of February 2014 and will post further updates on the payment process in 2-3 weeks.
"Please continue to check this website for updates regarding the payment process and this administration."
This is excellent news for those that have money tied up on Full Tilt Poker. According to John Pappas, Executive Director of the PPA, on Wednesday, "Players with undisputed claims should be looking for an email from Garden City Group within the next few weeks with instructions on how to receive their payment."
With the updated released on the GCG website, it does indeed look as though players will begin receiving their money in advance of the March 31 deadline that was originally posted.
Stay tuned to PokerNews for any further information regarding the Full Tilt Poker remissions process.