Full Tilt Poker A Ponzi Scheme According To U.S. Attorney

Posted:20.09.2011, 19:11

http://www.huffingtonpost.com/2011/09/20/full-tilt-poker-ponzi-scheme_n_972349.html?icid=maing-grid7%7Cmain5%7Cdl3%7Csec1_lnk3%7C97511

NEW YORK -- An Internet poker company that was blocked from operating in the U.S. in the spring as part of an online gambling crackdown was "not a legitimate poker company, but a global Ponzi scheme," federal prosecutors said Tuesday.

The popular Full Tilt Poker website illegally raided player accounts to fund operations and make lavish payments to its owners, Justice Department lawyers said in a revised civil lawsuit filed in New York.

Over four years, the company used $444 million in player money to pay board members, including well-known professional poker players Christopher Ferguson and Howard Lederer, investigators said.

Posted:20.09.2011, 20:00

**Moderator**

Yes well I read this... it is an interesting theory. Full Tilt was always crooked, but players were paid when they cashed out. It occurs to me if they are a ponzi scheme then many businesses and certain governments are bigger ones.

Posted:21.09.2011, 15:52

**Moderator**

This just shows that we need regulation and legalization!