Full Tilt Poker Near A Settlement In Maryland?

FULL TILT POKER NEAR A SETTLEMENT IN MARYLAND?

30th October, 2011 at 00:56:53

Source: http://www.bluffed.net

US Justice officials more flexible on deadlines in ongoing discussions

The poker information portal Poker Strategy scored a Full Tilt Poker news coup this week, unearthing interesting communications between a member of the US Attorney's Office in Maryland, a lawyer representing Full Tilt Poker interests in Switzerland, and a US federal judge.

US Attorney Rod J. Rosenstein wrote to federal judge Catherine C. Blake, reporting that his office had been in contact with Barry Boss, representing Full Tilt Poker, regarding frozen Swiss banking accounts in the name of Ranston Limited.

The enforcement official reported that talks were ongoing regarding a settlement, and as part of the deal the government had agreed to waive any time limits regarding filings in the Ranston case.

Rosenstein advised the judge (here: http://resources.pokerstrategy.com/2011/10/27/8.pdf) :

"As to the two Ranston accounts, I have been contacted by Barry Boss, Esquire, who represents Ranston Ltd., which appears to be the owner of the two accounts. Mr. Boss and I have opened discussions towards a potential settlement of the interests in the Ranston accounts.

"In order to facilitate the settlement process, the government has agreed to waive all filing time limits for Ranston while we are making progress with settlement discussions.

"I will submit a status report to the Court if the case is not resolved as to the Ranston accounts by December 21, 2011."

The case is part of a larger and recently unsealed action, United States of America v. Funds Contained in Four Accounts (Oldford Group et al, by the Maryland authorities that commenced in 2009, details on which Poker Strategy has posted here:

http://resources.pokerstrategy.com/2011/10/27/1-main.pdf

Poker players anxiously awaiting some sign of payments from Full Tilt Poker will no doubt be encouraged by the possibility that some of FTP's funds could be released, enabling the troubled company to pay what it owes as negotiations on the acquisition of FTP by Groupe Bernard Tapie progress.