AGCC executive director Andre Wilsenach has spoke out on their decision to revoke Full Tilt's license yesterday. He has suggested there was no way they could have prevented what has happened to the site and branded the site 'wicked'.
Wilsenach refused to accept any responsibility for the AGCC being unable to spot the $331 million, that was seized by the Department of Justice between 2007 and 2011, sooner. He put the blame firmly on Full Tilt Poker when he was questioned about it:
“Are you suggesting that we are wicked? I blame it absolutely on Full Tilt. In my view it’s absolutely right that the commission has decided to revoke their licences."
He went on to say that the only person who could have made them aware of the frozen funds were Full Tilt themselves, claiming that "If your operator doesn’t tell then there’s no way you would know.”
Wilsenach also commented that the regulator first had concerns last year, but it was not until “March or April” 2011 that the AGCC “started investigating” Full Tilt themselves with an external accountant and forensic auditors.
The AGCC were not in contact with the DOJ at any time during their investigation, but Wilsenach did not blame them for not sharing information with them. He did comment that he believed the DOJ should speak with regulators when they are conducting investigations.
Wilsenach concluded the interview by suggesting that this was not an isolated incident, and suggested could have happened at the other former US facing poker rooms:
“Do you think for a minute that the other operators, Pokerstars and Absolute, do you think that their regulators knew that the DoJ was freezing their funds? Don’t for a minute think that in April Black Friday was the first time they froze funds. What in actual fact happened, over a period of time, is they were freezing funds in payment processors accounts and every time the fund was frozen the operator moved to another payment processor, funds are frozen and they moved again. Eventually it leaves a trail of payment processors with frozen funds in."
• AGCC Revokes the License of Full Tilt Poker
• AGCC Determination Notice: DOJ Seized $331 Million, Full Tilt Insolvent
• Exclusive: Full Tilt Poker Press Release - 29/09
• Opinion: AGCC, you failed