AGCC CEO clears up Full Tilt questions
He recently did an interview
Many questions now have AGCC’s side of the story
As is the case with many other areas of interest, online gambling often finds one hot subject and focuses on it, squeezing every bit of juicy detail from it. Whether it’s the rise of an online poker room, its demise, a new poker tournament or whatever else, people tend to focus on a particular subject, then every time there’s a new development in the case, they’ll revive it and go through the whole process all over again. It’s the same everywhere as in the Australian poker news.
Over the summer, this was exactly what happened with the Full Tilt Poker debacle. As many of you already know, Full Tilt Poker was one of the online poker rooms that the United States Department of Justice indicted in the April 15th events, also known as Black Friday. Ever since then, its problems only escalated – in June their license was suspended, no longer allowing online poker players to conduct any activity on the site, and just a couple of weeks ago their license was permanently removed.
Recently, Andre Wilsenach, the Alderney Gambling Control Commission CEO, gave an interview where he tried to clarify as many of the Full Tilt Poker issues as possible. Here are a few of the topics that he addressed:
- Full Tilt Poker, as an AGCC licensee, were obligated to inform the authority of any events, of any nature, that might have influenced the business operation.
- after the April 15th events, the agency still believed that Full Tilt would refund players.
- The AGCC did not know about the US Department of Justice freezing Full Tilt’s accounts, a whole 2-3 years before this spring’s events. This was only found out after their investigations uncovered these facts over the summer.
- contrary to scandals and rumors in the US, they do not believe Full Tilt is a Ponzi scheme.
- in case a new, definitive deal is made between Full Tilt and new investors, the AGCC will cooperate with the new owners and new board of directors, in order to give them a license as soon as possible.
- The AGCC was aware that Full Tilt’s funds and the players’ funds were kept in the same account, and were not alarmed by this. Unlike other authorities, the AGCC does not believe that separate accounts for these funds would have been enough to solve the issues.
These are a few of the most important subjects touched by the AGCC’s CEO, and they were able to clarify some of the questions that the people had regarding the whole debacle.
