tbrick412 0 Posted July 4, 2011 Share Posted July 4, 2011 yeah not much TonyG has said has been right so far, so take w/e he says with a grain of salt Link to post Share on other sites
lurbz 2 Posted July 4, 2011 Share Posted July 4, 2011 agreed- Tony G is the least reliable source in poker.clonie gowenannie dukehoward ledererscott matusowi lol'dedit: add the entire PPA Link to post Share on other sites
FCP Bob 1,312 Posted July 4, 2011 Share Posted July 4, 2011 http://www.subjectpoker.com/2011/07/ftps-f...ense-suspended/FullTiltPoker.fr the French Full Tilt site has had their license suspended as well. Tilt shut their French site down at the same time as their .com site but it's now official that they're suspended in France. Link to post Share on other sites
FCP Bob 1,312 Posted July 6, 2011 Share Posted July 6, 2011 http://wickedchopspoker.com/ray-bitar-out-...uspend-license/Reports are that Ray Bitar is no longer CEO at Full Tilt and that Alderney might reinstate their license before the weekend. Link to post Share on other sites
FCP Bob 1,312 Posted July 7, 2011 Share Posted July 7, 2011 http://www.egrmagazine.com/news/1677627/fu...next-week.thtmlFull Tilt denies that Bitar is out as CEO and they say that the European Investors aren't currently in the gaming indurstry and they're talking to the DOJ and the gaming commissions in Alderney and France. Link to post Share on other sites
FCP Bob 1,312 Posted July 26, 2011 Share Posted July 26, 2011 Full Tilt's hearing is going on in London with the Alderney Gaming Commission. You can follow Poker News and E Gaming Review on Twitter to find out what's happening.https://twitter.com/#!/PokerNewshttps://twitter.com/#!/egamingreview Link to post Share on other sites
FCP Bob 1,312 Posted July 27, 2011 Share Posted July 27, 2011 So basically nothing happened at the hearing today.http://www.egrmagazine.com/news/1682202/br...he-latest.thtml Breaking news: FTP hearing adjourned until 15 Sept "at the latest" 26/07/2011Tom Victor Alderney commissioners have adjourned the hearing into whether or not to revoke Full Tilt Poker’s licences until 15 September “at the latest” to give the beleaguered brand more time to finalise a sale, eGaming Review heard in a public hearing late this afternoon. After a series of day-long public and private deliberations lead commissioner Isabel Picornel told a small audience its decision was taken in the “best interests of the customers of Full Tilt to give the company more time to finalise the investment”. The application, heard in camera - or in private - was only in reference to the pre-hearing application for an adjournment and not in relation to the hearing itself. “The decision was not taken lightly,” Picornel told around 20 people and press who had patiently stayed all day to hear an outcome. “The decision was taken in the best interests of Full Tilt’s customers and to allow FTP to further resume negotiations with potential investors. This would lead to more a beneficial outcome for the players’ interests. We will reconvene as soon as possible and no later than 15 September this year.” Link to post Share on other sites
FCP Bob 1,312 Posted August 23, 2011 Share Posted August 23, 2011 Nothing really to report but Tilt has issued a statement.Full Tilt Poker Issues Statement Regarding InvestorsDublin, Ireland (August 22, 2011) - On August 16, Irish based Pocket Kings Ltd., brand executor for the Full Tilt Poker moniker, concluded the exclusivity period of negotiations with their current potential investor.While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker's number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers.Read more: http://www.pokernews.com/news/2011/08/full...stors-10893.htm Link to post Share on other sites
FCP Bob 1,312 Posted August 26, 2011 Share Posted August 26, 2011 According to Subject Poker the amount of money that Full Tilt was short from US deposits that they never received the money is $128 Million not the $60 Million that was previously reported.FTP’s “$60M Shortfall” Actually Much Larger Link to post Share on other sites
TwstdWrstr 10 Posted August 31, 2011 Author Share Posted August 31, 2011 first big FTP statement in quite some timeAs is obvious from the events that have transpired since April 15th, Full Tilt Poker was not prepared for the far-reaching, US government enforcement effort of Black Friday.The events of Black Friday came on the heels of prior government enforcement activities and significant theft. Over the two years preceding Black Friday, the US government seized approximately $115M of player funds located in U.S. banks. While we believed that offering peer-to-peer online poker did not violate any federal laws—a belief supported by many solid and well-reasoned legal opinions—the DOJ took a different view. In addition, as was widely reported, a key payment processor stole approximately $42M from Full Tilt Poker. Until April 15th, Full Tilt Poker had always covered these losses so that no player was ever affected. Finally, during late 2010 and early 2011, Full Tilt Poker experienced unprecedented issues with some of its third-party processors that greatly contributed to its financial problems. While the company was on its way to addressing the problems caused by these processors, Full Tilt Poker never anticipated that the DOJ would proceed as it did by seizing our global domain name and shutting down the site worldwide.Over the last four months, Full Tilt Poker has been actively exploring opportunities with outside investors in order to stabilize the company and pay back our players. At least six of those groups, including hedge funds, operators of other internet businesses and individual investors, have visited Dublin to inspect the operation. We have recently engaged an additional financial advisor through an investment banking group to assist us in our search for an infusion of cash as well as a new management team to restore the site and repay players. While any deal of this nature is necessarily complex given the current regulatory environment, our players should know that Full Tilt Poker is fully committed to paying them back in full and restoring confidence in our operationsEntire Article Link to post Share on other sites
FCP Bob 1,312 Posted August 31, 2011 Share Posted August 31, 2011 I hope for the sake of everybody who has money at Tilt I'm wrong but that statement makes me thinks they need a miracle to survive. Link to post Share on other sites
TwstdWrstr 10 Posted September 1, 2011 Author Share Posted September 1, 2011 I hope for the sake of everybody who has money at Tilt I'm wrong but that statement makes me thinks they need a miracle to survive.i'm expecting a similar statement soon regarding my FCP hat. Link to post Share on other sites
lurbz 2 Posted September 1, 2011 Share Posted September 1, 2011 i'm expecting a similar statement soon regarding my FCP hat.loooooooooooooool Link to post Share on other sites
tbrick412 0 Posted September 1, 2011 Share Posted September 1, 2011 i'm expecting a similar statement soon regarding my FCP hat.LOL A+ Link to post Share on other sites
DiamondDixie 12 Posted September 2, 2011 Share Posted September 2, 2011 i'm expecting a similar statement soon regarding my FCP hat.Damn you made me laugh twice in one night! These days that's saying something. Link to post Share on other sites
rcgs59 15 Posted September 2, 2011 Share Posted September 2, 2011 i'm expecting a similar statement soon regarding my FCP hat.they ship once a year lol, get use to itmaybe by xmas Link to post Share on other sites
TwstdWrstr 10 Posted September 5, 2011 Author Share Posted September 5, 2011 wow i need a new hobby Link to post Share on other sites
rcgs59 15 Posted September 5, 2011 Share Posted September 5, 2011 wow i need a new hobby fk yeah lolwtg nice 1 Link to post Share on other sites
tbrick412 0 Posted September 5, 2011 Share Posted September 5, 2011 very n1 eric Link to post Share on other sites
lurbz 2 Posted September 5, 2011 Share Posted September 5, 2011 eric stop being Ve+ with your triple level merge Link to post Share on other sites
FCP Bob 1,312 Posted September 20, 2011 Share Posted September 20, 2011 New DOJ complaint against Full Tilt names Chris Ferguson, Howard Lederer and Rafe Furst in addition to Ray Bitar.103 Page Civil ComplaintDOJ’s Civil Complaint Amended, Alleges FTP Stole Player FundsBREAKING: DOJ’s Civil Complaint Amended, Alleges FTP Stole Player Funds September 20, 2011 - 12:05 PM EDTBy Noah Stephens-DavidowitzThe US Department of Justice has amended its Black Friday civil complain to include discussion of alleged “Full Tilt Poker’s and the FTP insider defendants’ theft of player funds.” The new complaint adds three new defendants, Howard Lederer, Chris Ferguson, and Rafe Furst. It also alleges that these new defendents together with Ray Bitar committed money laundering, and asks for penalties ranging from $12M for Furst to $42M for Lederer.A memorandum summarizing the amendment says,The Amended Complaint alleges that one of the Poker Companies, Full Tilt Poker, not only engaged in the operation of an unlawful gambling business, bank fraud, wire fraud, and money laundering as alleged in the Complaint, but also defrauded its poker players by misrepresenting to players that funds deposited into their online player accounts were secure and segregated from operating funds, while at the same time using player funds to pay out hundreds of millions of dollars to Full Tilt Poker owners. Full Tilt Poker was able to accomplish this massive fraud, in part, because it illegally conducted business in the United States but maintained its personnel, operations, assets, and accounts principally overseas.The new complaint also contains detailed information about Full Tilt’s debt to players, stating that it was approximately $390 million on March 31, 2011, and is still over $300 million today. It states that approximately $150 million is owed to US players.It goes on to say that Full Tilt’s Board of Directors, allegedly Ray Bitar, Howard Lederer, Chris Ferguson, and Rafe Furst, paid to themselves and other owners “approximately $443,860,529.89″ from April of 2007 to April of 2011 and that payments to owners only stopped after April 15, 2011.1 It continues, “As of the date of this Amended Complaint, neither Full Tilt Poker nor the individual owners who received over $443 million in distributions have repaid any of the more than approximately $300 million the company owes to players around the world.”ARTICLE CONTINUED AT LINK ABOVE Link to post Share on other sites
FCP Bob 1,312 Posted September 20, 2011 Share Posted September 20, 2011 Feds Call Full Tilt Poker A Massive Ponzi Scheme Feds Call Full Tilt Poker A Massive Ponzi SchemeNathan Vardi, Forbes Staff Manhattan’s U.S. Attorney Preet Bharara claimed on Tuesday that Full Tilt Poker and its board of directors operated the company “as a massive Ponzi scheme against its own players.”Federal prosecutors in Manhattan said on Tuesday they were filing legal papers as part of a civil money laundering complaint that alleged Full Tilt Poker improperly used funds of online poker players to pay members of its board of directors, including famous poker players Howard Lederer and Christopher “Jesus” Ferguson, $440 million since April 2007.Bharara announced the filing of a motion to amend the forfeiture and civil money laundering complaint that was unsealed in April, alleging that Full Tilt and board members Lederer, Ferguson and Rafael Furst, together with Full Tilt CEO Ray Bitar, defrauded poker players by not maintaining funds at the company sufficient to repay players.“Full Tilt was not a legitimate poker company, but a global Ponzi scheme,” Bharara said in a statement. “Full Tilt insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited.”ARTICLE CONTINUED AT LINK ABOVE Link to post Share on other sites
KingJames 11 Posted September 20, 2011 Share Posted September 20, 2011 siiiiiiiiiiiiiiiigh Link to post Share on other sites
FCP Bob 1,312 Posted September 20, 2011 Share Posted September 20, 2011 http://resources.pokerstrategy.com/2011/09...l_complaint.pdfThe Amended Complaint alleges that one of the PokerCompanies, Full Tilt Poker, not only engaged in the operation ofan unlawful gambling business, bank fraud, wire fraud, and moneylaundering as alleged in the Complaint, but also defrauded itspoker players by misrepresenting to players that funds depositedinto their online player accounts were secure and segregated fromoperating funds, while at the same time using player funds to payout hundreds of millions of dollars to Full Tilt Poker owners.Full Tilt Poker was able to accomplish this massive fraud, inpart, because it illegally conducted business in the UnitedStates but maintained its personnel, operations, assets, andaccounts principally overseas. (Am. Compl. ¶ 5).The Amended Complaint further alleges that, in or aboutthe summer of 2010, Full Tilt Poker’s payment processing channelswere so disrupted that the company faced increasing difficultyattempting to collect funds from players in the United States.Rather than disclose this fact, Full Tilt Poker simply creditedplayers’ online gambling accounts with money that had neveractually been collected from the players’ bank accounts. FullTilt Poker allowed players to gamble with -- and lose to otherplayers -- this phantom money that Full Tilt Poker never actuallycollected or possessed. When other players won these phantomfunds, their accounts were credited with money that Full TiltPoker did not actually possess, but now nevertheless owed tothese players. As a result, Full Tilt Poker soon developed amassive shortfall between the money owed to United States playersand the money actually collected from United States players, withFull Tilt Poker having credited approximately $130 million inphantom money to U.S. players’ online accounts that was neveractually collected from players’ bank accounts. Full Tilt Pokernever disclosed this shortfall to the public. (Am. Compl. ¶ 6).The Amended Complaint further alleges that, as of March31, 2011, Full Tilt Poker owed approximately $390 million toplayers around the world, including approximately $150 millionowed to players in the United States. At that time Full TiltPoker had only approximately $60 million on deposit in its bankaccounts. As of the filing of this Amended Complaint, Full TiltPoker still owes players over $300 million. (Am. Compl. ¶ 7).The Amended Complaint alleges that, meanwhile, fromapproximately April 2007 until April 2011, Full Tilt Poker, andits Board of Directors, Bitar, Howard Lederer (“Lederer”),Christopher Ferguson, a/k/a “Jesus” (“Ferguson”), and RafaelFurst (“Furst”), all owners of Full Tilt Poker, distributedapproximately $443,860,529.89 to themselves and other owners ofthe company. Payments to the Full Tilt Poker owners stopped onlyafter April 15, 2011. (Am. Compl. ¶ 8; see also id. ¶¶ 99-120).The Amended Complaint seeks civil money launderingpenalties against Bitar, Lederer, Ferguson, and Furst, as well asthe forfeiture of funds paid to those individuals from Full TiltPoker. (Am. Compl. ¶¶ 151-157, 161). Link to post Share on other sites
tbrick412 0 Posted September 20, 2011 Share Posted September 20, 2011 Odds Lederer and Jesus are ever seen on US soil again? I know someone in Cabo who would house them though Link to post Share on other sites
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