Full Tilt Poker licenses revoked by Alderney

The problems at Full Tilt Poker keep on magnifying since its debacle in April. Poker players all around the world got a rude shock when the US authorities froze up the domains and bank accounts of Full Tilt Poker until they agreed to leave the US gaming market and repay the dues to their customers.

This debacle caused many countries to change their online gambling laws so as to protect the players. Full Tilt Poker is back in news after the Alderney Gambling Control Commission regulator revoked their licenses following a six-day hearing in London.

The regulator clarified that its tribunal has rescinded licenses held by Filco Limited, Vantage Limited and Oxalic Limited trading as Full Tilt Poker as various checks one showed that the domain had fundamentally misled investigators regarding its operational integrity.

A statement from the Alderney Gambling Control Commission said that at a hearing in London, it emerged that the poker site had fundamentally misled the commission about its operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities or that were otherwise not actually available to the operator.

Full Tilt Poker’s problems started in April followed by suspension of its licenses by the regulator on June 29 following indictments from the US Department of Justice and the site’s subsequent failure to satisfy the Alderney Gambling Control Commission that its activities inside and outside the US were in order. The poker domain had requested more time at a consequent hearing on July 26 saying that it was seeking additional investment from outside parties and was then given 54 days.

The Commission revealed that apart from the revocations, the license of Orinic Limited, a recently added geographic sub-division of the poker room at Full Tilt Poker was also suspended. They added that the revocation does not mean that the business cannot be activated under new ownership and management.