Full Tilt Poker’s $440 Million Ponzi Scheme?

09/22/2011
By Tommie ClarkGoogle

 

The poker saga just gets more dramatic as police uncover more and more.  Federal prosecutors accused Full Tilt executives of running a Ponzi scheme and taking over $440 million in player’s winnings and putting it into the pockets of the companies board member, owners and various poker celebs including Howard Lederer and Christopher Ferguson. 

 

The problem with Full Tilt was that they while they promised players that their fund were secure in their account and they could withdraw at any time, in reality they simply didn’t have the money to pay out all the players.  It seems that what they were doing with this money was padding the pockets of their owners and board members.

 

They weren’t running a legitimate business and now, the US Attorney’s office is pursuing justice to ensure that the money is given back to pay back all the players who trusted their funds with Full Tilt. 

 

Many feel that the way to fight this kind of bad business in the future is simply to legalize online poker. When you legalize an industry, all the players in the industry have to adhere to certain regulations, which protect the industry as a whole, but most importantly, the players. 

Share |

Latest News:

abonnieren Kostenlose
Geben Sie Ihre Daten fur EXKLUSIV No Deposit Casino Bonus-Updates direkt an Ihre E-Mail

Top 10 Online Casinos

Rank Casino Logo Casino Casino Review
1
Slots of Vegas
Play
Review
2
Lucky Red
Play
Review
3
Aladdin's Gold
Play
Review
4
Win A Day
Play
Review
5
Slotland
Play
Review
6
Cool Cat
Play
Review
7
Prism
Play
Review
8
High Noon
Play
Review
9
Sloto' Cash
Play
Review
10
Club World Casino
Play
Review