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(Phys Org2)   US authorities arrest CEO of Full Tilt Poker, charge him scheme to defraud banks and mislead customers   (phys.org) divider line 48
    More: Dumbass, Full Tilt Poker, Full Tilt, United States, signing bonus, poker, John F. Kennedy International Airport, bank fraud  
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1465 clicks; posted to Sports » on 03 Jul 2012 at 10:42 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-03 10:47:35 AM  
Of course, if we did this to a lot of Wall St. types, confidence in our economy would soar.
 
2012-07-03 10:50:25 AM  
You mean a 'CEO' of a company who's existence in the US is illegal was up to no good?

Color me surprised.
 
2012-07-03 10:54:34 AM  
Yeah, Full Tilt Poker is who the government should be going after.

For fark's sake.
 
2012-07-03 10:57:53 AM  
Legalize, tax, and regulate online gambling and you don't have shady businesses like Full Tilt Poker last very long.
 
2012-07-03 10:58:13 AM  
Sports tab? Try the business tab.
 
2012-07-03 10:58:32 AM  

mitchcumstein1: Yeah, Full Tilt Poker is who the government should be going after.

For fark's sake.


Compare his campaign contributions to those of the Vegas interests.
 
2012-07-03 11:00:51 AM  

PowerSlacker: Legalize, tax, and regulate online gambling and you don't have shady businesses like Full Tilt Poker last very long.


Hey now, that's dangerous thinking. You don't want to be on the record making sense.
 
2012-07-03 11:02:01 AM  

PowerSlacker: Legalize, tax, and regulate online gambling and you don't have shady businesses like Full Tilt Poker last very long.


MADNESS!
 
2012-07-03 11:02:34 AM  

Zombie Hitler: PowerSlacker: Legalize, tax, and regulate online gambling and you don't have shady businesses like Full Tilt Poker last very long.

Hey now, that's dangerous thinking. You don't want to be on the record making sense.


If that means I'm smarter than all of Washington DC combined? I'll take it.
 
2012-07-03 11:03:19 AM  
This should be in the Sports Tab

/Phys.Org?
 
2012-07-03 11:04:39 AM  
Back when we had the Classifieds, I told the guy who was advertising online poker sites that the feds were serious about going after these guys and that he better cash out while he could. He thought I was full of shiat, and said it was safer than having his money in the bank. My guess is that all those poker assets are going to be confiscated as evidence and then used to offset debt, taxes, and legal costs and the people who think that they are owed money from their online poker accounts will be SOL.
 
2012-07-03 11:06:12 AM  

bangmaid: Sports tab? Try the business tab.


It's more real than pro wrestling.

The money I lost is still real to me dammit!
 
2012-07-03 11:07:33 AM  

dj_bigbird: mitchcumstein1: Yeah, Full Tilt Poker is who the government should be going after.

For fark's sake.

Compare his campaign contributions to those of the Vegas interests.


The Chicago Outfit makes campaign contributions?
 
2012-07-03 11:11:06 AM  

Balchinian: My guess is that all those poker assets are going to be confiscated as evidence and then used to offset debt, taxes, and legal costs and the people who think that they are owed money from their online poker accounts will be SOL.


The feds have no intention of seizing the funds of FTP players. I believe a large number of the assets actually belong the international players, not solely those based or playing in the US.

The main problem with FTP is that all those "poker assets" are no longer available. As mentioned in the article, the scumbags at FTP used player money to pay their owners and business partners, as well as pay for marketing and operations. US players who had money in Pokerstars, another site that got shut down for US players, all got their money back. That's because Pokerstars were smart and honest enough to actually hold players' funds in separate accounts rather than take them and spend them on business expenses or profits.
 
2012-07-03 11:15:55 AM  
This belongs in the Sports Tab as it was people involved with sports that put an end to online gambling in the USA

Full Tilt would not have had the money issues if the US did not outlaw online gambling.

In fact, outlawing online gambling just makes it easier for criminal syndicates to control gambling and betting....a problem Europe does not have to deal with. Jeez, in Norway, you can go to 7-Eleven and place bets on horses, no crap
 
2012-07-03 11:18:08 AM  

wantedbadass: Balchinian: My guess is that all those poker assets are going to be confiscated as evidence and then used to offset debt, taxes, and legal costs and the people who think that they are owed money from their online poker accounts will be SOL.

The feds have no intention of seizing the funds of FTP players. I believe a large number of the assets actually belong the international players, not solely those based or playing in the US.

The main problem with FTP is that all those "poker assets" are no longer available. As mentioned in the article, the scumbags at FTP used player money to pay their owners and business partners, as well as pay for marketing and operations. US players who had money in Pokerstars, another site that got shut down for US players, all got their money back. That's because Pokerstars were smart and honest enough to actually hold players' funds in separate accounts rather than take them and spend them on business expenses or profits.


It should be noted that it's been widely reported that Pokerstars is in discussions to buy FTP. Pokerstars was also the only site among the major poker sites to repay American players after the shutdown.

All that said, Bitar and his poker playing buddies Lederer and Ferguson can go fark themselves. And yes, legalize online poker, damnit.
 
2012-07-03 11:21:26 AM  
US judge caught sayof Full Tilt Poker....
 
2012-07-03 11:27:54 AM  

wantedbadass: Balchinian: My guess is that all those poker assets are going to be confiscated as evidence and then used to offset debt, taxes, and legal costs and the people who think that they are owed money from their online poker accounts will be SOL.

The feds have no intention of seizing the funds of FTP players. I believe a large number of the assets actually belong the international players, not solely those based or playing in the US.

The main problem with FTP is that all those "poker assets" are no longer available. As mentioned in the article, the scumbags at FTP used player money to pay their owners and business partners, as well as pay for marketing and operations. US players who had money in Pokerstars, another site that got shut down for US players, all got their money back. That's because Pokerstars were smart and honest enough to actually hold players' funds in separate accounts rather than take them and spend them on business expenses or profits.


Wait...so you're saying I'm not gonna be getting that $160 I still had in there? The hell you say!
 
2012-07-03 11:32:43 AM  

desertgeek: It should be noted that it's been widely reported that Pokerstars is in discussions to buy FTP. Pokerstars was also the only site among the major poker sites to repay American players after the shutdown.


Ya, Stars buying FTP is reported as a possibility in TFA. It's no surprise the Stars was able to pay back their players, as they're the largest site and had exemplary business practices and customer support. They continue to support online poker, and all reports are that they're very tough and thorough in making sure their networks are secure and free of cheating and/or bots.

It's amazing to me that here are still online sites that cater to US players even though ll reports indicate that payouts take a while (4-6 weeks on average). It's still risky as hell for any US players to play on these sites since the DoJ could shut them down at any time.

It boggles the mind that the US won't just allow online gambling. Set up a few restrictions and regulations to safeguard consumers and "protect" the degenerate gamblers and you could have a nice new tax revenue stream. Lord knows all the international players (winning ones anyway) are breathlessly awaiting the return of the large pool of below-average casual US players. I would think most of the winning regulars (those who made their living at the game) are either taking their chances at the smaller sites or have moved out of the country in order to continue earning money at their chosen profession.
 
2012-07-03 11:34:53 AM  

jackiepaper: Wait...so you're saying I'm not gonna be getting that $160 I still had in there? The hell you say!


You might, if FTP is able to sell for a decent price. Still, I think players with 5-6 figures still locked up in the site may be their main priority, even if they're paid at a fraction of their value. I think there are still US players trying to sell their accounts for around 35-40 cents on the dollar - most to no avail.
 
2012-07-03 11:40:39 AM  
I want my $40 back!
 
2012-07-03 11:40:39 AM  
Our casino industry paid good money to ban online gambling. Those Congressmen aren't cheap, you know.
 
2012-07-03 11:42:25 AM  
WHY IS THIS IN MY SPORTS TAB?!
 
2012-07-03 11:45:51 AM  

Jim from Saint Paul: WHY IS THIS IN MY SPORTS TAB?!


Because fark you, that's why.
 
2012-07-03 11:52:25 AM  
31.cdn.bit2host.eu

He's going all-in.
 
2012-07-03 12:10:15 PM  

Jim from Saint Paul: WHY IS THIS IN MY SPORTS TAB?!



hey, if pro wrasslin' is sports tab, then so is poker.

/sorry for leaving "with" out between "him" and "scheme". me fail english? unpossible!
//Texas Hold 'Em-mitter
 
2012-07-03 12:18:42 PM  

notmtwain: [31.cdn.bit2host.eu image 300x205]

He's going all-in.


He's not going all in, Bubba from Cell Block D is.
 
2012-07-03 12:42:57 PM  

rickythepenguin: Jim from Saint Paul: WHY IS THIS IN MY SPORTS TAB?!


hey, if pro wrasslin' is sports tab, then so is poker.



cdn1.sbnation.com
 
2012-07-03 01:25:03 PM  
Also, ESPN is showing the final of that $1 million buy in tournament at the WSOP today. Just an FYI

/at work so I have the DVR running for that.
 
2012-07-03 02:09:22 PM  

desertgeek: Also, ESPN is showing the final of that $1 million buy in tournament at the WSOP today. Just an FYI

/at work so I have the DVR running for that.


We'll tell you who wins.
 
2012-07-03 02:42:04 PM  

notmtwain: desertgeek: Also, ESPN is showing the final of that $1 million buy in tournament at the WSOP today. Just an FYI

/at work so I have the DVR running for that.

We'll tell you who wins.


As long as it's not Hellmuth, I don't care.

/Really recording for the blow up that he'll have
 
2012-07-03 03:52:05 PM  

desertgeek: As long as it's not Hellmuth, I don't care.


I hope Guy wins it. It would be cool if the guy who won the biggest tournament in poker history would probably just donate the whole prize since it would represent an infinitesimal percentage of his existing net worth.
 
2012-07-03 03:54:32 PM  

desertgeek: notmtwain: desertgeek: Also, ESPN is showing the final of that $1 million buy in tournament at the WSOP today. Just an FYI

/at work so I have the DVR running for that.

We'll tell you who wins.

As long as it's not Hellmuth, I don't care.

/Really recording for the blow up that he'll have


i.ytimg.com

lmao, hes the only reason I will watch
 
2012-07-03 04:06:06 PM  
more launch-pad goodness

i.ytimg.com

cdn.bleacherreport.net
 
2012-07-03 04:09:17 PM  

ltdanman44: more launch-pad goodness

[i.ytimg.com image 480x360]

[cdn.bleacherreport.net image 350x269]


Fishman is a f*cking donkey.
 
2012-07-03 04:12:55 PM  

The Muthaship: ltdanman44: more launch-pad goodness

[i.ytimg.com image 480x360]

[cdn.bleacherreport.net image 350x269]

Fishman is a f*cking donkey.


QFT
 
2012-07-03 04:14:39 PM  

The Muthaship: desertgeek: As long as it's not Hellmuth, I don't care.

I hope Guy wins it. It would be cool if the guy who won the biggest tournament in poker history would probably just donate the whole prize since it would represent an infinitesimal percentage of his existing net worth.


He's said he wouldn't donate it all, just a lot of it. The only guy who has said he's donating every dollar of his winnings to charity is Einhorn.
 
2012-07-03 04:16:23 PM  

desertgeek: He's said he wouldn't donate it all, just a lot of it. The only guy who has said he's donating every dollar of his winnings to charity is Einhorn.


You mean Finkel, right?;)
 
2012-07-03 04:56:31 PM  

The Muthaship: desertgeek: He's said he wouldn't donate it all, just a lot of it. The only guy who has said he's donating every dollar of his winnings to charity is Einhorn.

You mean Finkel, right?;)


Finkle is Einhorn. Einhorn is Finkle.
 
2012-07-03 05:01:41 PM  

ltdanman44: more launch-pad goodness

[i.ytimg.com image 480x360]

[cdn.bleacherreport.net image 350x269]


Hellmuth is a whiny ass twatwaffle turdlet.
 
2012-07-03 09:16:39 PM  

ltdanman44: more launch-pad goodness

[i.ytimg.com image 480x360]

[cdn.bleacherreport.net image 350x269]


Ahem...

cdn.fd.uproxx.com

/hot
 
2012-07-03 10:01:22 PM  
Phil Helmueth reminds me of Shooter from Happy Gilmore.
 
2012-07-03 10:12:29 PM  
Until the next time some dumb-azz site states that "online poker is illegal": IT IS NOT ILLEGAL. What is illegal is financial institutions facilitating transfers to the sites. The banks got paranoid about having to play Poker Police and some began not allowing accounts to receive money either.

Again: there are currently no federal laws banning online poker for money.
 
2012-07-04 03:56:44 AM  
THIS is why George Bush was a bad President.

Everything he actually accomplished had no constituency. From bankruptcy reform to banning ephedra to ruining online poker.
 
2012-07-04 03:57:27 AM  

10000 Marbles: Until the next time some dumb-azz site states that "online poker is illegal": IT IS NOT ILLEGAL. What is illegal is financial institutions facilitating transfers to the sites. The banks got paranoid about having to play Poker Police and some began not allowing accounts to receive money either.

Again: there are currently no federal laws banning online poker for money.


Why would I play online poker if I cant get my winnings?
 
2012-07-04 11:08:30 AM  

10000 Marbles: Until the next time some dumb-azz site states that "online poker is illegal": IT IS NOT ILLEGAL. What is illegal is financial institutions facilitating transfers to the sites. The banks got paranoid about having to play Poker Police and some began not allowing accounts to receive money either.

Again: there are currently no federal laws banning online poker for money.


If that were true, then the U.S. government would not have had a legal leg to stand on when they seized all the U.S. domain names for all the poker sites. After all, if online poker isn't illegal, then the online poker sites weren't doing anything wrong, right? Just those evil banks, which no one used anyway because Neteller is how one used get money onto a poker site.
 
2012-07-04 05:13:29 PM  

I sound fat: 10000 Marbles: Until the next time some dumb-azz site states that "online poker is illegal": IT IS NOT ILLEGAL. What is illegal is financial institutions facilitating transfers to the sites. The banks got paranoid about having to play Poker Police and some began not allowing accounts to receive money either.

Again: there are currently no federal laws banning online poker for money.

Why would I play online poker if I cant get my winnings?


You get your money via check, cash it (banks don't ask questions about it, and even if they do.... make some bullshiat up), or via Western Union/MoneyGram. Problem solved!
 
2012-07-06 12:21:36 PM  

I sound fat: THIS is why George Bush was a bad President.

Everything he actually accomplished had no constituency. From bankruptcy reform to banning ephedra to ruining online poker.


Now now.. MBNA and the other credit card companies were a big constituency for C+ Augustus' bankruptcy "reform".

(And when you say 'accomplishment' and 'reform', I presume you mean you're in favor of bringing back debtors' prisons?)

/I'm also betting that billionaire-GOP donor/casino baron Sheldon Adelson was against online poker
 
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