Full Tilt Poker's Ray Bitar Released On Bail
Full Tilt Poker Founder Bitar To Return Home After Posting Bail
Despite prosecutors’ pleas to have Ray Bitar held without bail, the Full Tilt Poker founder has been released on a $2.5 million bond.
According to the Wall Street Journal, prosecutors were against bail as they argued Bitar, who has pleaded not guilty, could flea due to the serious nature of the charges and the fact that he now faces up to 145 years in prison.
Bitar agreed to post $2 million in property to ensure his return to the U.S. District Court in Manhattan. He will also be electronically monitored when he returns to his home in Glendora, California.
According to Forbes, five people close to Bitar are backing his bail commitments, and he will leave New York to return home for the first time in over a year after he discloses to federal prosecutors all of the assets he holds in America and abroad.
Last Monday, Bitar flew to New York from Ireland to face charges which initially saw him facing prison time of up to 65 years. At that time a leaked copy of an internal email sent to Full Tilt staff stated his return was part of the process of preserving “Full Tilt’s assets and potential in order to provide for the repayment of all players”.
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