players) while only having $60 million on deposit in its accounts.
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The FTP Insider Defendants were also, at all relevant times, members of the Board of Directors of Tiltware LLC, and Ferguson was Chairman of the Board of Directors.”Ĭan you think of a more ironic marketing banner? Some Very Disturbing Facts and FiguresĪccording to the press release, Full Tilt Poker apparently owed $390 million to its players ($150 million to U.S. The FTP Insider Defendants specifically owned the following approximate percentages of Tiltware LLC: Bitar (7.8%), Lederer (8.6%), Ferguson (19.2%), and Furst (2.6%). 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 … In total, approximately 23 individuals owned shares in Full Tilt Poker. Attorney Bahara himself: “Full Tilt was not a legitimate poker company, but a global Ponzi scheme. Clearly, the bigger they are, the harder they fall. Both are highly-decorated pros with multiple World Series of Poker bracelets, and Ferguson is a former WSOP Main Event Champion (2000). Known to millions around the world as “The Professor” and “Jesus”, respectively, Lederer and Ferguson were among poker’s top names to become famous “brands” in the wake of the Moneymaker poker boom. This is how you take poker players’ money The Professor Outsmarted… No Savior for Jesus…
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Though CEO Ray Bitar and poker pro Rafe Furst were also named in the amended prosecution complaint, the big fish with the most to lose are clearly Lederer and Ferguson.
Now the poker world learns via a press release that Full Tilt Poker wa s one big lie all along?! Still reeling from the news and sitting slack-jawed as I write these words, this poker blogger is astounded by the brazenness with which the 2 dozen owners of Full Tilt Poker conducted their online operations. Then, they lose their license and ability to operate anywhere else in the world. Attorney’s Office has amended the Department of Justice’s original money laundering complaint against Full Tilt Poker to allege that Howard Lederer, Chris Ferguson, and other co-owners of Full Tilt essentially defrauded players i n a worldwide online Ponzi scheme!įirst they were shut down on Black Friday, losing their American players. Just when you thought Full Tilt Poker had nothing more to lose, here comes an absolutely shocking development: Preet Bahara of the Manhattan U.S.
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