Ray Bitar Arrested

by , Jul 2, 2012 | 11:24 am

Leave it to Full Tilt Poker to steal thunder from all the attention going to the One Drop million-dollar buy-in tourney … after all, it’s gotta sting the creators of the Onyx Cup to see such a realization of their vision done bigger and better and with no Full Tilt patches anywhere near the TV cameras.

According to Forbes, Ray Bitar, the stubbornly semi-apologetic CEO of Full Tilt, has been arrested in New York after turning himself in to federal authorities. The Feds have added criminal charges to those levied against him April 15, 2011, based on false statements made to players about their funds as he and others continued to deplete Full Tilt accounts for personal gain … allegedly.

The superseding indictment said, “In effect, Full Tilt Poker operated what was, by then, nothing more than a Ponzi scheme.” So they have softened their language to say not that FTP was a Ponzi scheme … but it was like one. That actually, seems kinda true … when you think of all the poker benefits afforded certain Team Full Tilt pros by using player funds unbeknownst to them.

You can only imagine, too, that while Full Tilt got kinda pissed when PokerStars paid back all their players, Stars has to be kinda pissed as they face another reminder that DOJ settlements don’t come when wanted criminals — their words, not mine — are on the lam and running multinational companies that compete with the Caesars Empire.

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