Archive for October, 2011

October 3, 2011

Ray Bitar Challenges the DOJ without a Lawyer?

... while B-list Black Friday indictees put forth biggest UIGEA challenge to date

nevada license plate notaryI gotta think representing himself pro se against the DOJ was not part of the original plan. But that’s the real story (imho) yet to be noted in Ray Bitar’s claims that he wants some of his property back (including two bank accounts in Pokerati’s old Dallas stomping grounds).

Have a look at the document. He filed the motion himself — “Verified Claim of Raymond Bitar, Pursuant to Rule G of the Supplemental Rules for Admiralty and Maritime Claims” — with an Irish notary public to make it official.

I certainly don’t know the nuances of Rule G of the Supplemental Rules for Admiralty and Maritime Claims, but it seems complex enough that an attorney might-should usually be filing this kinda thing. And the lack of legal counsel’s involvement in this civil matter raises plenty of questions about the financial status of Bitar … and maybe even the motivations of various comments by Full Tilt attorneys who may or may not be still be getting paid.

More…

Posted by at 10:10 am

Where is the Collective Outrage?

When I looked at the numbers, I had to re-evaluate

tom schneider political humor

Tom Schneider


OP-ED

Ed. Note:  Shortly after Tom wrote this piece, the AGCC revealed that some $330 million had been seized pre-Black Friday. I sent an email asking if this changed the math, to which Tom replied, “That’s almost all that they owed to players, just short $60 million which is purportedly what they had in the bank.  Makes my case even stronger.”


Just yesterday, I heard the news that the Department of Justice accused Full Tilt Poker of running a Ponzi scheme.  A Ponzi scheme is defined as a pyramid investment swindle in which supposed profits are paid to early investors from money actually invested by later participants.

I object your honor.  Taking money I deposit and distributing it to owners is no Ponzi scheme.  But wait, let’s look at some facts/guesses.

Had our politicians not passed a law that restricted financial institutions from transferring money to and from poker sites, all players would still have their money. 

In reviewing the DOJ complaint and other sources, the following information jumped out at me:

Money owed to players  ($390 million)
Cash on Hand, Seized or Frozen Cash, Deposits not Received From Players
Money seized by US Government $115 million
Deposits not received from players* $180 million
Money frozen by banks $42 million
Money in Full Tilt bank accounts $60 million
$397 million
Shortfall to pay account holders None/Zip/No Shortfall

More…

Posted by at 8:00 am

Flashback: Did Twitter Replace the Poker Media?

Check it out, blast from the past … just 2.5 years ago today, only some 30 months ago, Kevmath was reporting on this newfangled medium emerging in poker called “Twitter”. It was a global chip-count texting machine, this Twitter, and it was catching on way bigger than our version here at Pokerati (called CSR, Citizen Stack Reporter, ahead of its time, obv since abandoned).

I can tell you there has been a noted difference in our on-site commentary since Twitter.

Anyhow, go Kevmath … for asking the question:

Could Twitter Replace the Poker Media?
Apr 3, 2009

I’d say in some ways yes … but in other ways no, it’s just changed how many do their jobs. But Twitter’s still got a ways to go before the #hashtag officially usurps the adjective, and I still haven’t seen the concept really work for anyone who’s tried to possess it … so there’s gotta be a reason @KevMath has more Klout than the rest of us.

Posted by at 3:26 am

October 2, 2011

Feel the Shame

It's the scummy poker world, not just Full Tilt, on trial

jesse may poker shame
Jesse May

OP-ED

It didnt’t really bother me when Poker Spot folded, because that guy had history. And I laughed about the money Aces Poker stole, because anyone who trusted them couldn’t ever spot a cheat. The Ultimate Bet scandal wasn’t really that surprising, as we’d heard stories about him for years. And it never shocked me when they cheated me in Atlantic City, or went partners against me in Vegas, or at Foxwoods tried to do a runner with my funds. The nips, the moves, the cheats, the angle shooters, and those that were just plain thieves. For the past ten years when the stars put on their caps and badges and smiled for the TV, we used to smile to ourselves. And then we’d laugh as we’d tick off the big names in poker and say, “But he’s really just a little scumbag, isn’t he?” Because they pretty much all were. And that’s the way it’s always been.

I didn’t always think like that, of course, and neither did you. I came into poker just like yourself, wide eyed and dough faced and on the back of a little bit of luck. Full of passion for the game and a romantic view of the poker world and a desire to be accepted by the rambling gambling men who ruled. It’s natural when you have a pocketful of money and a bellyful of gamble and all the confidence in the world, it’s natural that when it comes to people you can be a little naïve. I certainly was, and so probably were you.

I’m ashamed that I have sat by in silence while you all cheated, stole, and lied. I know you, you thieving tournament directors, you scumbag poker players, you dirtbag angle shooters with your names stitched on your shirts. I know you. And I’m ashamed that I’ve sat here for twenty years and let you rule the poker world as long as I was still getting paid.

But you get wiser because you have to. My circle got small and my radar got sharp and I could count all the people that I could really trust on maybe one hand. And I told them they could trust me. And pretty much everyone else were scumbags and cheats. In poker, that’s the way it’s always been. That’s the way it’s been for me, and that’s the way it is for you. And we don’t ever talk out of turn. Because in this world if you shit where you eat, then you’ll end up hungry. That’s what you need to know about poker. That’s what you need to know about me.

I’ve been around long enough so that just one more scam, cheat, or mismanagement of funds, one more of those should be just like more water off another duck’s back. But something happened to me when Full Tilt Poker collapsed. This one is different. This has laid me low. It’s not just anger I feel, it’s not just disdain, and I can’t sit here like I always do and smile to myself and point fingers and call them scum. Because what I feel more than anything else right now, is shame.

More…

Posted by at 5:33 am