Details Regarding Potential Full Tilt Acquisition Fundraising Raises Eyebrows

The Full Tilt Poker pending sale to the Bernard Tapie Group has started to raise some eyebrows after an interview with the Wall Street Journal on Monday.  While the interview started out harmlessly enough with the owner promising to pay back players worldwide should the deal finalize, many were surprise at some of the proposed methods to raise funds for the company.

Is it possible some of these pros could get a share in the new Full Tilt?

In addition to petitioning the US Department of Justice to return at least a portion of the funds frozen from Full Tilt, Tapie also hinted that the new company may raise money from those formerly in charge of the company.  While stating that those found guilty of crimes would not be part of the company in the future, he did say that those that had not been indicted may be part of the company.  This surprised many as few believe that the troubles of the company are solely the result of the actions of the four men named in the indictment from Full Tilt.

Also, as another measure to raise money for the new company, Tapie proposes offering an equity share to those with the largest amounts of money due on the site in exchange for the company not having to pay them back.  It was not stated how much of an equity share that the players would receive nor were any specific players named.

Of course, the biggest hurdle by the Tapie Group in completing the acquisition is the successful resolution of the civil complaint filed by the DOJ.  The group has been in contact with the DOJ but no progress has been reported in regards to what amount that the DOJ would be willing to release to Full Tilt.  Also, the company faces $1 Billion in fines from the DOJ.  Should the DOJ hit the company with a substantial fine, odds are the acquisition deal would be quickly abandoned.

As always, we will keep you appraised of the major developments regarding Black Friday and Full Tilt Poker as they happen.

Popularity: 1% [?]

Related posts:

• Full Tilt Ends Exclusive Period With Potential Investors The Full Tilt Poker saga took yet another interesting turn as the company announced on Monday that they have concluded their “exclusive” period with a group of supposed “European investors.” Full Tilt Poker released a statement exclusively to PokerNews.com which...
• Full Tilt Poker Sale Already on Life Support? It seems that the pending sale of Full Tilt Poker to Group Bernard Tapie may already be in danger of falling apart.  According to a report on Gaming-awards.com, the Board of Directors for the site may end up stalling the...
• Full Tilt’s License Revoked Prior to Acquisition Agreement Reached Full Tilt Poker received what it considered the worst possible news on Thursday when the Alderney Gambling Control Commission announced that all of Full Tilt Poker’s licenses have been systematically revoked by the commission. Reasons for Revocation The commission released...
• Full Tilt Releases New Statement on Finances and Potential Sale A few days ago, Full Tilt Poker lawyer Jeff Ifrah told readers on TwoPlusTwo forums that Full Tilt Poker would make a statement soon regarding their financial situation.  That statement was released on Tuesday and reads as follows: “As is...
• Full Tilt Poker and US DOJ Reach Deal Regarding Black Friday Civil Suit It seems that the Full Tilt Poker sale may go off after all.  In a breaking story on Tuesday on SubjectPoker.com, it was reported that the United States Department of Justice and the Groupe Bernard Tapie have come to an...