FTP – Alderney License Finally Revoked

FTP – Alderney License Finally Revoked


 Filed Under Online Gambling News, Online Poker News

We have been waiting with baited breath to find out the outcome of deliberations between Full Tilt Poker (FTP) legal representatives, and the Alderney Gambling Control Commission (AGCC). A hearing in this regard, took place ‘in camera’ last week in London, and there was huge hue and cry regarding the fact that the hearing was not made public. After over a week of deliberations the AGCC has revoked all FTP licenses with immediate effect. Licenses for trading as Full Tilt Poker were held with Oxalic Limited, Vantage Limited and Filco Limited. Orinic Limited – a recent sub-division licensee of FTP, remains suspended for now.

The reason for this decision is cited to be “serious breaches in regulations”, and follows, perhaps not so fast on the heels of the suspension of all licenses on June 29th 2011.

The hearing was held over six days, and it seems to be true to form – that FTP was found to have “fundamentally misled the AGCC”. This is with regards to their operational integrity. The Alderney Gambling Control Commission released a statement today which in no uncertain terms said; that FTP had failed to report material events, had breached regulations by making use of unauthorized credit provision, and had reported that funds were liquid, despite the fact that these funds had been seized by US authorities.


It looks to us that the serious poker minds behind Full Tilt Poker have tried to pull off the biggest bluff of their careers; only this time it did not work. They have been accused by US authorities of making payments in the millions, to shareholders, while their loyal members have paid the price. In fact the US Attorneys Office has publicly called this once famous online poker site, a Global ‘Ponzi” scheme. This is a very hectic allegation to make publicly, so, we assume that perhaps the DoJ is sure of their evidence?

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