FCP Bob 1,312 Posted April 8, 2013 Share Posted April 8, 2013 Former Full Tilt CEO Ray Bitar is going to plead guilty to criminal charges against him and in the plea deal he is going to forfeit over $40 Million but he won't have to spend any time in jail as a result of his heart condition. If he doesn't get a heart transplant soon he probably won't live more than another 12 months. Bitar to Avoid Jail but Needs Heart Transplant Link to post Share on other sites
FCP Bob 1,312 Posted April 8, 2013 Author Share Posted April 8, 2013 Tony Dunst @Bond_18 20m Shame about Ray Bitar needing a heart transplant; wish Dr. Kevorkian was still around to operate. Link to post Share on other sites
AmScray 355 Posted April 8, 2013 Share Posted April 8, 2013 Too bad to hear he isn't going to prison, but at least we got a serious, fatal heart condition. Hope he dies. Transplant Board Rejection ONE TIME. Link to post Share on other sites
Balloon guy 158 Posted April 9, 2013 Share Posted April 9, 2013 Silly Amscray, the transplant board doesn't reject millionaires. Link to post Share on other sites
GOCUBSGO 77 Posted April 9, 2013 Share Posted April 9, 2013 Silly Amscray, the transplant board doesn't reject millionaires. I'm sure they would be happy to reject a former millionaire though. Link to post Share on other sites
Lrgetrout 1 Posted April 10, 2013 Share Posted April 10, 2013 This is one of those situations that is too good even for crocodile tears. Link to post Share on other sites
FCP Bob 1,312 Posted April 15, 2013 Author Share Posted April 15, 2013 Judge agrees to time served for Bitar so that he can get a heart transplant http://online.wsj.com/article/APc2a6bd7762ac4794b668ab73b5ca67ac.html Link to post Share on other sites
Cruz 2 Posted April 16, 2013 Share Posted April 16, 2013 What he did at FullTilt was certainly wrong but I don't get any joy from his current plight. Link to post Share on other sites
HangukMiguk 8 Posted April 16, 2013 Share Posted April 16, 2013 Yeah, I don't either. This guy is ruined. He'll never be able to head a company again, he now has this charge against him on his record, he has lost a fortune, and he has to go through a heart transplant, which is a risky procedure as it stands. So a year in jail and he dies? He was never going to get a life sentence, but he's very fortunate he was given clemency in this. In actuality, forcing him to bear the pain of whatever heart problem he's experiencing in prison would be considered cruel and unusual punishment, and allowing him to get his heart transplant paid for under the judicial system is cruel to the taxpayers he stiffed. But effectually, he's destroyed. He may get to walk free, but his career is dead, if he has any money left after this, he's fortunate, but if not, he's working menial jobs from herein. I honestly hope his apology is sincere. I'm cynical enough to doubt it, but that's between him and God. Let him bear the brunt of that now. I hope he gets the medical care he needs, but I hope what he did is on his mind daily. But I just lost my stepfather to cancer that spread to his heart, so I wouldn't wish that kind of pain on another person. Link to post Share on other sites
FCP Bob 1,312 Posted April 16, 2013 Author Share Posted April 16, 2013 Really interesting article from Wicked Chops from about 18 months ago about Ray Bitar and how Full Tilt operated and got started. Before Full Tilt he as basically just a Stock Trader and had zero management experience. In Other’s Words: The Rise and Fall of Ray Bitar Link to post Share on other sites
FCP Bob 1,312 Posted April 25, 2013 Author Share Posted April 25, 2013 Bitar Ordered to Forfeit Assets The US government detailed a list of assets sought from Full Tilt Poker founder Ray Bitar in a forfeiture order filed this week. The Department of Justice also demanded the financial records of 9 companies Bitar had a stake in, including the parent company of Hold’em Manager and an investment firm he owned with Chris “Jesus” Ferguson. According to the order filed Tuesday, any companies which Bitar owned, or in which he held an equity interest, may be required to provide the government with a series of documentation, including five years of investment history, annual reports and financial statements, shareholder or partnership agreements, and charts of affiliate businesses. They may also be required to show charts identifying key management personnel and property locations and listings of all patents, copyrights and trademarks. Article Continued At Link Above Link to post Share on other sites
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