Full Tilt Receives Letter of Intent + Investor Identity Rumor [UPDATE #2]
Full Tilt Poker has received a letter of intent from an investor who has put significant effort towards a potential deal with the company. Additionally, a French news site is reporting that Laurent Tapie is part of the investment group.
FTP Receives Letter of Intent
According to eGaming Review, a party that is part of the gambling industry has signed a letter of intent outlining the details of a potential purchase of Full Tilt Poker.
Jeff Ifrah clarified to eGaming Review that this does not necessarily mean a deal will happen. According to Ifrah, some parts of the letter of intent are binding, but the investor still has the ability to walk away from the deal.
If the deal goes through, it will include a repayment of player funds. The letter of intent is valid through September 30th.
French Investor Revealed?
A French news site, MediaPart.fr, is reporting that Laurent Tapie is one of the individuals that is part of the investment group closing in on a deal with Full Tilt.
Laurent Tapie is the son of Bernard Tapie, a very famous and enormously wealthy businessman who has made numerous appearances in French media as a performer.
Bernard Tapie's business success includes having owned Adidas for a few years, and he has had luck in sports as well. His cycling team has won the Tour de France, and his "Olympique de Marseille" soccer club won the French Championship 5 times and the Champions League in 1993.
We were unable to find significant information on Laurent himself, but one can imagine his father helping with the funding of a potential deal. Please keep in mind that this is still a rumor, and the actual identity of the investor has not been officially revealed to the public.
Updates Log
Update 23/09 12:30 GMT - Hearing runs into fifth day
PokerStrategy.com received information that the AGCC hearing in London for Full Tilt Poker has run in to day five. Initially the hearing was scheduled for only three days. So far no decision about Full Tilt Poker's licence has been made and it seems that the hearing may run over the whole weekend.
Update 23/09 16:00 GMT - DOJ takes over FTP bank accounts
According to Subject:Poker, the Department of Justice has issued warrants to seize the bank accounts of Ray Bitar, Howard Lederer, Chris Ferguson and Rafe Furst. The accounts are as follows:
• All funds and other property on deposit in account numbered GB81 RBOS 6095 4234087766 held at NatWest, in the name of Raymond Bitar, and all funds traceable thereto;
• All funds and other property on deposit in account numbered 7655741861 held at Wells Fargo Bank N.A. in the name of HH Lederer Consulting LLC, and all funds traceable thereto;
• All funds and other property on deposit in account numbered GB56LOYD30166314010402 held at Lloyds TSB International, Isle of Mann, in the name of Howard Lederer, and all funds traceable thereto;
• All funds and other property on deposit in account numbered 40039049628 held at Citibank N.A., in the name of Chris Ferguson, and all funds traceable thereto;
• Account numbered CH87 0875 5057068400100 held at Pictet & Co Bankers, Switzerland, in the name of Telamonian Ajax Trust, and all funds traceable thereto.
Recent Full Tilt Poker Stories
• Full Tilt Hits Back, Gus Hansen Breaks Silence, Greg Raymer on CNN (22 Sep 11)
• Subject: Poker Reports French Investors Considering Purchase of Full Tilt (21 Sep 11)
• Jeff Ifrah on the 'Ponzi Scheme' + FTP License Revoked? + EPL Suspensions (21 Sep 11)
• How The Media Have Reacted to the Full Tilt Poker Story (21 Sep 11)
• The United States DOJ's Civil Complaint vs. Full Tilt Poker Amended [Updated] (20 Sep 11)
by Matt Kaufman
