FTP Loans to Be Called in by New Owners?

Aug 05, 2012
FTP Loans to Be Called in by New Owners?
Millions could be collected from poker pros who took loans from the company

The reports of the Pokerstars takeover of Full Tilt Poker arose speculations about what's going to be done regarding the loans made by the failed online poker operator to a number of high profile players/stakeholders and when they'd be called in by the new owner.

The due diligence checks conducted by Groupe Bernard Tapie, a former runner for the FTP acquisition, proved that the loans totaling over $18 million were given to the favored players by FTP's CEO Ray Bitar.

One such pro confirmed the reports – it was Barry Greenstein, who said that he will return the $400,000 he was loaned once the ownership question becomes clear. However, others like him did not step out.

However, it's pretty certain payback time will come to them, as well, especially having in mind the fact that Bitar delivered up to Pokerstars an Excel spreadsheet with details of the disbursements, which according to certain, unnamed sources , mentions the names of top players like Phil Ivey, Mike Matusow, Erick Lindgren and David Benyamine.
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