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Full Tilt Shuts Down Following License Suspension

Online Poker, 2011-06-29, by Ozone

A major aftershock from Black Friday took place today when the Alderney Gambling Control Commission (AGCC) suspended the licenses granted to Full Tilt Poker and ordered the site to shut down all operations.

In a statement, AGCC said, "The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by U.S. Attorney General's Office in the Southern District of New York on April 15, 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation. The nature of the findings necessitated the taking of immediate action in the public interest."

Following Full Tilt's shutdown, Party Poker is now the second largest online poker room in the world behind PokerStars.

It is rumored that Full Tilt's lack of funds with which to reimburse U.S. players stems from payment processing issues through which they credited player accounts for deposits despite not being able to debit funds from them. It is also being rumored that Full Tilt may attempt to resume business under a new license or perhaps even without one at all.

Stay tuned to Poker Tips for more information on this major online poker news story.

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