![]() Preet Bharara, US attorney for the southern district of New York, said Full Tilt had become a "Ponzi-style scheme", with a $350m (£228m) black hole. Detailed investigation led the US authorities to further allege that he and co-conspirators had secretly been plundering purportedly ring-fenced customer accounts, where poker players thought they had safely deposited cash and winnings. However, bank fraud and money laundering allegations turn out to be just the start of Bitar's woes. In four and a half years since the US enacted anti-online gambling laws, prosecutors alleged Full Tilt – branded around star players Phil Ivey, Howard Lederer and Chris "Jesus" Ferguson, each of whom had a stake in the business – had taken "at least an estimated $1bn" from the US alone. ![]() Full Tilt was shut down and assets frozen. He was charged in April 2011 on five counts, and faced a maximum jail sentence of 65 years. Bitar, 41, one of the founding figures behind Full Tilt Poker, becomes the second of 11 senior poker executives and payment processor intermediaries charged two years ago with bank fraud, money laundering and online gambling offences.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |