Online Poker CEO Surrenders to U.S. in $430 Million Ponzi Scheme Indictment

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Saturday, September 1, 2012
Author: 
Bruce Zagaris
Volume: 
28
Issue: 
9
Abstract: 

 

                On July 2, 2012, Raymond Bitar, the Chief Executive Officer of Full Tilt Poker, surrendered to U.S. authorities when he landed at the John F. Kennedy International Airport.  In 2011, he was indicted for online gambling, bank fraud, and money laundering offenses in connection with the operation of Full Tilt Poker.  The U.S. Attorney Preet Bharara unsealed a superseded indictment, charging Bitar with defrauding poker customers by lying to them about the security of their funds.[1]



[1]               U.S. Attorney S.D. New York, Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce The Arrest Of Full-Tilt Poker CEO Raymond Bitar, Press Release 12-202, July 2, 2012.