Is it just a coincidence, or is the power of the press? Several days ago, word got out that Garden City Group (GCG), the organization in charge of distributing payments from the Ultimate Bet (UB)/Absolute Poker (AP) scandal, hadn’t been keep up with its end of the deal. Now, a substantial number of players have finally recuperated their losses.
According to an announcement by the Department of Justice and GCG, there will soon be a fourth round of payments made. 494 players who lost money and filed claims will receive checks totaling $133,005.04.
The first round of payments went to 7,400 players in August 2017, when $33.5 million was disseminated. The next round occurred two months later, with $3.7 million going to $4,600 players. It took another five months for round three, which saw 450 players receive a total of $1,084,200. Seven months later, and some negative press, and payments are finally starting to flow again.
According to the GCG, the delay in any payments was not due to their procrastination. It said in a statement, “GCG has been informed that the Money Laundering and Asset Recovery Section of the Department of Justice (MLARS) has approved a fourth round of payments to Petitioners who confirmed their Absolute Poker / Ultimate Bet account balances after the initial September 7, 2017 filing deadline and Petitioners who have disputed their Absolute Poker / Ultimate Bet account balances.”
Payments will be made via direct deposit to those claimants who reside in the U.S. For anyone living outside the country, payments will be made via a foreign currency check. If a check cannot be issued for any reason, payment will be made either through a check in U.S. dollars or through a foreign currency wire transfer, depending on the claimant’s country of residence.
When UB/AP folded after the death of online poker in the U.S., thousands of players were left high and dry, not able to collect the earnings they had in their online accounts. Those behind the UB and AP sites didn’t offer any word on what would happen to the funds, with some reporting that as much as $60 million had been absconded by the sites. While it’s taking a long time for the issue to be resolved, it’s good to see that players are finally able to collect their money.