DoJ Latest Action Against Former Full Tilt Execs

Sep 13, 2012
DoJ Latest Action Against Former Full Tilt Execs
The second US Department of Justice civil claim amendment against former Full Tilt Poker shareholders and executives seeks forfeiture of a total $137 million in assets acquired through the use of funds from an illegal enterprise.

In the latest litigation former CEO Ray Bitar, along with Howard Lederer, Chris Ferguson and Rafe Furst are named to be the beneficiaries of tens of millions of dollars paid out in distributions by Full Tilt Poker.

The Illegal Gambling Act, the Wire Act, and even the Travel Act were all included to argue that moneys were flowing from an illegal enterprise including illegal online gambling, money laundering, bank fraud, travel, wire fraud and racketeering and should therefore be seized.

The new attack divides up the distribution of funds to be forfeited as:

Ray Bitar - $40.8 million

Rafe Furst - $11.7 million

Chris Ferguson - $42 million

Howard Lederer - $42.5 million

According to court documentation the authorities have carried out detailed research trying to establish where the money went over the four-and-a-half years prior to Black Friday - when the DoJ shut down Full Tilt.

The findings were as expected: Lederer is alleged for using Full Tilt to fund personal accounts, buy luxury motor vehicles, invest in pension funds, buy upmarket properties and pay off mortgages, and Bitar was also interested in property, with court documents listing two luxury homes and other investments.

On top of everything, the Department of Justice asks for the award of legal costs.
General Poker News Poker Society News Back to articles

Live Activity Feed

Mitchel Haugen

Mitchel Haugen was commenting on site

us Aug 17, 21, 10:08:29 PM

"More traffic would be nice but..."

Read
Intertops Poker
2 3739
Apr 04, 16, 08:04:44 PM
Mitchel Haugen

Mitchel Haugen rated a site

us Aug 17, 21, 10:08:23 PM
2 3739
Mitchel Haugen

Mitchel Haugen was commenting on site

us Aug 17, 21, 10:08:00 PM

"Plenty of traffic which includ..."

Read
Sportsbetting Poker
2 6199
Apr 06, 16, 09:04:11 PM
Mitchel Haugen

Mitchel Haugen rated a site

us Aug 17, 21, 10:08:11 PM
2 6199
Samrich

Samrich was commenting on article

gb Mar 02, 21, 05:03:32 PM

"In this case, emotions are the..."

Read
My Luckiest Day
1 1063
May 15, 20, 05:05:29 AM
idnever

idnever was commenting on site

ca Jan 09, 21, 10:01:29 PM

"Je reviens avec plus de patien..."

Read
Full Tilt Poker
57 7481
Sep 17, 18, 09:09:08 AM

lpb activities in the last 24 hours