Monday, July 2, 2012

Feds Arrest Full Tilt CEO And Call The Firm A Ponzi Scheme


Ray Bitar, the CEO of Full Tilt Poker, has been arrested after voluntarily surrendering to U.S. law enforcement and is being held in New York, according to a person familiar with the matter.
Bitar, who is from southern California, remained in Ireland, where Full Tilt Poker was headquartered, ever since he was indicted in the federal crackdown on the U.S. online poker industry last year. The FBI arrested Bitar on Monday morning upon his arrival at John F. Kennedy International Airport. Bitar pleaded not guilty to the federal charges in a late-afternoon hearing in federal court in Manhattan. He faces up to 145 years in jail if he is convicted on all counts filed against him by the government…

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