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Old 09-20-2011, 03:09 PM
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Full Tilt Poker BUSTED!!!

Full Tilt is in the news big time today with bad news for them!

A legal law suit has been filed against the company, which includes the owners and some of the shareholders, which were paid up to $443 million! This wil include the CEO Ray Bitar.

For all the info read here.

This also has links to more intensive info.
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Old 09-21-2011, 05:50 AM
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Re: Full Tilt Poker BUSTED!!!

Yeah, I just read about this scandal and it's no wonder Phil Ivey was slightly upset with Full Tilt. Now we know the truth.

Perhaps an upcoming trial with Full Tilt will turn good results and give back to the players what is due to them.
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Old 09-23-2011, 08:01 AM
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Re: Full Tilt Poker BUSTED!!!

I guess this can be summed up in one word, "greed". Its places like this that cause the problems and I hate to see any place in trouble but this one is well deserved.
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Old 09-29-2011, 05:56 AM
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Re: Full Tilt Poker BUSTED!!!

I read an article about Full Tilt poker at International Business Times (IBTimes) online about a week ago, and they labeled it a "Ponzi Scheme".

Check out the IBTimes article to get the whole story, from the information they've gathered.

I haven't read much deaper on the subject, but I'm sure there's something going on with it today.
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Old 09-12-2012, 08:09 AM
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Re: Full Tilt Poker BUSTED!

And the ponzi scheme saga continues, Part II... The US DoJ has just brought up another set of charges against Howard Lederer and Ray Bitar.

This is what iGaming Business mentions...

Quote:
In the United States, the Department of Justice has filed a second amended civil complaint against Full Tilt Poker directors Howard Lederer and Ray Bitar that features a raft of new forfeiture charges.
Read the full story at iGaming Business.

Just when Bitar thought he was in the clear, the DoJ throws another set of charges his way. I didn't see this one coming, but it doesn't surprise me to say the least.
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Old 09-13-2012, 05:40 AM
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Re: Full Tilt Poker BUSTED!!!

I guess I should have put that bit of news in a seperate thread, but it's basically a continuation to the rest of the old Full Tilt poker news.

It blows my mind to see how many 'extra' charges were brought against Ray Bitar, and I believe it was after the fact.
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Old 09-13-2012, 06:49 AM
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Re: Full Tilt Poker BUSTED!!!

Wow, I read about all of this situation and was rather surprised but once you mentioned the fact that it was after the fact, I was really surprised.

One would have thought that once would have been enough.

Quote:
All told, the federal government is now seeking $42.5 million in forfeitures from Lederer while Bitar is being asked to hand over $40.8 million. The amended action also contains eight additional ‘claims for relief’ charges to bring the total to twelve and encompassing illegal gambling, Travel Act offenses, bank and wire fraud, wire fraud, promotion money laundering and conspiracy, concealment money laundering and conspiracy, international money laundering and conspiracy, bulk money laundering and conspiracy, promotion money laundering and conspiracy relating to Full Tilt Poker fraud against players, concealment money laundering and conspiracy relating to Full Tilt Poker fraud against players, international money laundering and conspiracy relating to Full Tilt Poker fraud against players and bulk money laundering and conspiracy relating to Full Tilt Poker fraud against players.
Now, thats a lot of additional charges and this time they may not be so lucky.
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