Playing online poker is a gamble taken by millions of poker aficionados. The gamble encompasses several factors, from being unable to read other players to becoming a victim of an online gambling website’s fraudulent practices. According to the United States Department of Justice, thousands of online poker succumbed to the fraudulent practices of online poker host Absolute Poker.
The Justice Department claims Absolute Poker and numerous other defendants mislead online poker players by stating the company ensures all player funds will be “safe, secure, and available for withdrawal at any time.” Not only were player funds not safe or secure, Absolute Poker failed to repay all of the players the online poker venue hosted. Absolute Poker represents the third of three online poker hosts that have to settle claims made by plaintiffs in class action lawsuits. All three online poker companies conspired with payment processors to steal funds from unsuspecting online poker players.
Absolute Poker agreed to a class action settlement in July of 2013. Terms of the settlement require Absolute Poker to relinquish all of the company assets for immediate liquidation to reimburse class action plaintiffs. Full Tilt Poker and PokerStars agreed to similar terms in July of 2012.
What You Need to Know
Plaintiff class members might be eligible for settlement compensation if they sent funds to Absolute Poker and retained positive balances at the time of the class action lawsuit. The class action settlement website www.AbsolutePokerClaims.com outlines the specific requirements for eligible class members to receive payments. Compensation varies depending “on a player’s last known account balance with Absolute Poker. If the total settlement fund meets or exceeds the aggregate account balances for all valid claimants, each claimant will be paid their whole account balance or approved loss amount. If the total fund is less than the aggregate account balances, claimants will receive pro rata shares of the fund. A different calculation will be used for players deemed affiliates or professional players.”
The deadline for filing a claim form is June 9, 2017. Eligible class members must submit a petition for remission through the claim administrator’s online form. You do not need to submit additional documentation, if you agree with the account balance displayed during the online filing process. Class members that want to dispute account balances must submit documents that support the proposed amended balances.
United States v. PokerStars, Full Tilt Poker, Absolute Poker, et al., Case No. 11-cv-02564, in the U.S. District Court for the Southern District of New York has not set a date for the final hearing. Refer to the class action settlement website for the latest updates of the final hearing date. Class counsel are the attorneys that work in the Money Laundering and Asset Recovery Section of the United States Attorney Office for the Southern District of New York.
