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Alderney Was Ignorant of Full Tilt’s Problems

3 October 2011 by admin

full-tilt-poker11According to a top official at the Alderney Gambling Control Commission, the regulators were unaware of Full Tilt Poker’s problems until the U.S. Department of Justice indicted its executives. Andre Wilsenach, CEO of the commission, said that Full Tilt kept them in the dark, which doesn’t exactly make the regulators sound good.

Up until the United States government indicted executives at Full Tilt Poker, the online poker room was still one of the most popular in the world and the Alderney regulators still thought they were a viable company, despite cash flow problems. At a Las Vegas conference on Saturday, Wilsenach said that “what wasn’t known to us is that the Department of Justice had frozen funds associated with the operation of Full Tilt.” The Alderney regulators thought that money was still available to the company and the players.

The Alderney Gambling Control Commission has been heavily criticized for allowing Full Tilt to continue operating as long as it did. Hearing that the group responsible for ensuring the safety and legitimacy of Full Tilt was so in the dark about their operations is far from reassuring. Though they weren’t the only company targeted by the United States, Full Tilt has received the bulk of the attention lately. While the other poker rooms are not accused of in any way mistreating their customers, U.S. federal prosecutors have accused Full Tilt of running a Ponzi scheme.

Last week, the commission announced that it had revoked Full Tilt’s gambling license because the company had lied about having access to enough funds to pay its players. The company currently owes more than $300 million to players across the world.

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