Full Tilt Poker Accused Of Stealing $440 Million In Giant Ponzi Scheme

mr. leisure · 09-20-11 11:44 AM

Frickin crooks

http://www.subjectpoker.com/2011/09/ftp-civil-amended/

jarvol · 09-20-11 11:46 AM

Shockkkkkkkker!

09-20-11 11:51 AM

all books are set up the same way basically. So it isnt any shock. I wouldnt say any book has enough cash on hand to pay all the post up funds they have balances for. They just did it on a much larger scale because poker started to become main stream and when you have major networks putting it up over and over again it is just a green light for these guys to take advantage of peoples naivete.

They should go after every single professional and network that promoted these sites and sue the shit out of them, as well as prosecute them as accessories. I am sure every ambulance chaser around is trying to get up a class action suit. But the government should step in here and start writing warrants. They want to force these guys out they should then try and arrest some of the domestic entities that promoted them to allow them to get so big in the first place.

Will be interesting to see what happens. but I imagine nothing.

Hoonk · 09-20-11 11:53 AM

Whatttt? 410 million?

stevenash · 09-20-11 11:55 AM

Just read that, don't think for a second Ivey's hands aren't dirty too.

I wouldn't be surprised if Ivey winds up face up in the Camden River.

09-20-11 11:55 AM

Good thing I withdrew my money

mighty maron · 09-20-11 12:02 PM

Several K I had on the site when it all went down

jetsjets1028 · 09-20-11 12:05 PM

cant even play for free on that site

09-20-11 12:05 PM

Wow. Wow. Wow.

mr. leisure · 09-20-11 12:06 PM

I hate theives

RGG · 09-20-11 12:07 PM

Wouldn't suprise me. Online poker/gambling is crazy, we all know it.

wrongturn · 09-20-11 12:09 PM

The funny thing is if there were no Black Monday, FTP would still be a top poker site. And if there were no 2008 market crash, Madoff would still be a great fund manager.

mr. leisure · 09-20-11 12:12 PM

Originally Posted by wrongturn

The funny thing is if there were no Black Monday, FTP would still be a top poker site. And if there were no 2008 market crash, Madoff would still be a great fund manager.

So true

noober · 09-20-11 12:14 PM

the link is not working or article was removed

RGG · 09-20-11 12:16 PM

Originally Posted by noober

the link is not working or article was removed

Just go to 2+2...there's a ton of threads on it there.

mighty maron · 09-20-11 12:19 PM

Originally Posted by wrongturn

The funny thing is if there were no Black Monday, FTP would still be a top poker site. And if there were no 2008 market crash, Madoff would still be a great fund manager.

right on point...the world would have never known

Howards brother made millions from owning the store that Full Tilt bought the items from ftps

ThaWoj · 09-20-11 01:06 PM

wow.

thx for the article. kinda glad if that happens, they deserve it if all the charges are true.

k13 · 09-20-11 01:12 PM

Poker players won't do shit but maybe the FBI will.

Be nice to see all those crooks pennyless and in jail.

They suck at poker anyway so without backers/stolen funds they won't be able to get anything back.

09-20-11 01:25 PM

Originally Posted by stevenash

Just read that, don't think for a second Ivey's hands aren't dirty too.

I wouldn't be surprised if Ivey winds up face up in the Camden River.

Definately agree about Ivey...The funny thing is, he tried to play the victim card and get sympathy and boycot the WSOP this year. What a bunch of crooks.

09-20-11 01:28 PM

These bastards stole a good chunk from me, too. I've wanted to 'hurt' Howard, Ferguson, et al since all this thievery got exposed...

jjgold · 09-20-11 01:30 PM

This is why online poker will never be legal in usa

What a crook Ivy is, I heard he is one of main culprits

He needed the money because he has blow almost everything

09-20-11 01:45 PM

According to Forbes, prosecutors allege that CEO Ray Bitar illegally received $41 million, Lederer got $42 million and Ferguson pocketed at least $25 million.

Why haven't Lederer and Ferguson been arrested?

ttwarrior1 · 09-20-11 01:46 PM

subject poker is also the same people that made up the merge news a couple weeks ago that was 100 percent totally not true. It was all a made up lie

09-20-11 01:48 PM

i hope the u.s. is wrong about this.

mighty maron · 09-20-11 02:33 PM

Despite the money lost this video gives me a chuckle

Harmy G · 09-20-11 02:36 PM

Will this day be know as Truth Tuesday?

P.F.Kasooff · 09-20-11 02:40 PM

Further evidence that JJ's claim is true: No such thing as a 'professional' poker player. Got to have an angle!

P.F.Kasooff · 09-20-11 02:55 PM

Wow! Even Wall Street Journal's Market Watch is covering the story.

Video Here

mr. leisure · 09-20-11 02:58 PM

Originally Posted by P.F.Kasooff

Further evidence that JJ's claim is true: No such thing as a 'professional' poker player. Got to have an angle!

If they weren`t so greedy all they have to do is sit back collect the rake and get rich .

P.F.Kasooff · 09-20-11 03:01 PM

Originally Posted by mr. leisure

If they weren`t so greedy all they have to do is sit back collect the rake and get rich .

Wall Street Journal's Market Watch is saying the Money Processors crackdown got so tight that FTP just said fuuk it and stole the post-up funds. <---- In a nutshell

sharpcircle · 09-20-11 03:06 PM

Originally Posted by ttwarrior1

subject poker is also the same people that made up the merge news a couple weeks ago that was 100 percent totally not true. It was all a made up lie

citation?

because you're a known retard and subject poker / noah isn't.

PaperTrail07 · 09-20-11 03:07 PM

looking back at this in 100 years......maybe top 10 greatest scams of all TIME

PaperTrail07 · 09-20-11 03:23 PM

Originally Posted by jjgold

This is why online poker will never be legal in usa

What a crook Ivy is, I heard he is one of main culprits

He needed the money because he has blow almost everything

JJ thats 100% wrong...hes got plenty of $$$$$$$$$$ ....i thnk he knew it was going down though
..............

KEdge2k · 09-20-11 03:43 PM

Don't these board members have some sort of fiduciary responsibilities to ensure the money is available to distribution to the players? I can imagine that there will be civil suits filed shortly by various individuals who had high balances at the time of the seizures.

nenad · 09-20-11 03:45 PM

us justice took the money

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Full Tilt Poker Accused Of Stealing $440 Million In Giant Ponzi Scheme

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