WSJ: Ray Bitar To Plead Guilty In Full Tilt Poker Case
Former Full Tilt Poker CEO Reportedly To Accept Plea Deal
The final member of the Full Tilt Poker team that federal prosecutors alleged, in September 2011, had been operating a “global Ponzi scheme” reportedly will plead guilty.
The Wall Street Journal reported Monday that Raymond Bitar needs a heart transplant and this medical development has affected his criminal case.
“It’s a very unusual situation,” Bitar’s attorney told The Wall Street Journal. “We’ve been able to work out something with the government that takes into account the unique circumstances. We appreciate the government’s courtesy in this regard.”
It’s unclear what kind of “courtesy” has been dealt to Bitar. He was facing life in prison after being accused of a handful of financial-related crimes in running Full Tilt. He has been residing in California since being released on bond in 2012.
Howard Lederer, Rafe Furst and Chris Ferguson, who were originally alleged to be part of the Ponzi scheme, all have settled their respective civil cases with the federal government. None of them admitted to any wrongdoing with running the online poker site.
Hundreds of millions were owed to former customers when the site shut its doors, as American victims are still waiting on compensation from the government.
Full Tilt Poker software is back in cyberspace thanks to a government-approved takeover by former rival PokerStars, which also fell into hot water on Black Friday in April 2011.
Stay tuned to CardPlayer.com for more on this developing story.
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