BACKGROUND INFORMATION
Most Full Tilt assets were sold off at a live auction in San Dimas, CA, on Saturday, August 2nd, 2014. I was at this auction and bought some of these assets. I have some more FTP hats, stickers, and bags that I found recently in my garage.
Back in September 2011, during the height of the Full Tilt Black Friday fallout, Quadjacksdiscovered the company, Eyecon Marketing Group, was the one providing this service. It was owned and operated by a cousin of Howard Lederer, Scott Lederer. The company was not a manufacturer, but was effectively a middleman, arranging for branded goods to be produced and shipping these goods to Full Tilt players around the globe. This is why you can see the small tags next to the stickers have Eyecon Marketing Group typed there.
For those who weren't around the game during the 2000s and into the early 2010s, online poker, and poker in general, in the US (and worldwide) was booming like never before. There were two top dogs in the industry at the time — PokerStars and Full Tilt Poker. Ultimate Bet and its sister site Absolute Poker were also major players.
On the morning of April 15, 2011, the domains for the three main online poker sites — PokerStars, Full Tilt Poker, and Ultimate Bet/Absolute Poker — had been seized by the US Department of Justice (DOJ) in pursuant to an investigation into "conducting, financing, managing, supervising, directing, or owning all or part of an illegal gambling business," which is a federal crime.
The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) prohibited gambling businesses from "knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law."
Full Tilt was no longer operating in the US as the DOJ had seized the domain in relation to illegal gambling. During the investigation, it was also uncovered that the poker site was potentially operating a Ponzi scheme business model.
Player funds weren't kept separate from day-to-day operating expenses, and there were no funds available to pay back the players, yet executives such as Ferguson and Lederer received multi-million-dollar bonus payments.
In July 2012, 15 months after the Full Tilt scandal broke, the DOJ agreed to Full Tilt forfeiting its assets and allowing its rival site, PokerStars, to acquire the company. As part of the agreement, PokerStars was required to forfeit $547 million to the US government over the following three years in pursuant to the Black Friday scandal.
Sorry for the lengthy explanation, but it shows the validity of the FTP products that are being sold here.
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