Full Tilt Poker CEO Surrenders to US Authorities

Posted:July 2012

Ray Bitar, originally from southern California, had been staying in Ireland, where the headquarters of Full Tilt Poker was based. Ray was one of 11 men indited as part of the crackdown on online poker, better known as 'Black Friday'.

Ray is said to have misled Full Tilt's customer base blaming the lack of funds on 'legal and jurasdictional issues'. It was reported that in March 2011, Full Tilt Poker had approximately $60 Million while it owed it's player based just shy of $400 Million. The oney had apparently been spent by the company and distributed to it's owners. Preet Baharara, the US attourney in Manhatten, said that Full Tilt Poker had been operating a Ponzi scheme.  

It is also claimed that Ray and Nelson Burtnick continued to receive millions of dollars in salaries, even after the crackdown by the Department of Justice on 15th April 2011. Ray Bitar, in a statement said that his surrender was part of the process in completing the deal that involves a possible buy out by Pokerstars. Nelson, is still currently at large.

Read other poker room news and offers from the top poker rooms.

 
Improve
Your
Game
 

Some popular player guides..

An introductory guide suited to beginner level players on how to play poker.

How easy is it to make money playing poker online? There are things you can do to maximise your profits.

To be considered a top player online or live, you'll have to master how to play heads up (1 against 1).

There are tons of free money offers on offer for players looking for a site. Compare our best bonus offers of the month.

Tips from professional poker players to help you stay profitable. Advice which will almost certainly improve your results!

Sign up today and get

$20 FREE to play cash games!

Newsletter

Facebook