Full Tilt Poker a ponzi scheme, says U.S. attorney

Comment #12

Stack47 — Fri, 23 Sep 2011 21:45:44 GMT

The popular Full Tilt Poker website illegally raided player accounts to fund operations and make lavish payments to its owners

The Justice Department caused the problem when they closed down Full Tilt and confiscated millions of dollars from US banks. While it's true Full Tilt didn't have enough money to cover all their accounts, they never expected to be closed down or expected their US players to demand to be paid in full the money they had in their accounts all at the same time.

Full T... [ More ]

Comment #11

CrazyHazyYay! — Thu, 22 Sep 2011 11:55:18 GMT

Hahahahaha I cant believe I considered dropping out of college to become an online poker pro on that exact site. I seriously dodged a bullet there.. I only played freerolls after reading Chris Jesus Ferguson's journey to turn a freeroll dollar into over $100,000. Guess I should really count my blessings I didnt lose any real money there. I think I'll just stick to Powerball and Mega Millions.

Comment #10

rdgrnr — Thu, 22 Sep 2011 03:59:48 GMT

Yep, I'm not too crazy about Perry but he hit the nail on the head on this one.

Comment #9

sully16 — Thu, 22 Sep 2011 01:57:09 GMT

Yeah, more like a turf war.

Comment #8

rdgrnr — Thu, 22 Sep 2011 00:46:28 GMT

What is the federal government all in an uproar about Ponzi Schemes for?

They said the Poker outfit promised the players money would never be touched - and it was.

That's the same thing the feds told us about the money we put into Social Security - that it would never be touched. But it was touched. It was all looted and spent and replaced with worthless IOU's.

Social Security is now the biggest Ponzi Scheme in the history of the world.

The thought of the federal government going aft... [ More ]

Comment #7

LottoGuyBC — Wed, 21 Sep 2011 16:35:19 GMT

guys like Durrrr kept like a million on there

prolly wont get that back but who knows

send The Professor to prison

Comment #6

LottoGuyBC — Wed, 21 Sep 2011 16:32:44 GMT

it's a good thing I cashed out half my money in January 2011.

looks like the other half I will never see again

Stars is the only site I play on now

Comment #5

Raven62 — Wed, 21 Sep 2011 15:21:19 GMT

Comment #4

cantw82win — Wed, 21 Sep 2011 14:10:58 GMT

Boy, That's the truth . Sounds just like our Social Security System .

Comment #3

Eighty0uts778 — Wed, 21 Sep 2011 13:57:14 GMT

they kept 25 dollars of my money , another poplar website i was on gave me back my money 2 months after black friday 4-15-11... the 25 dollars i lost is no big deal ,,,but i feel sorry for the pros an people on the sight that lost so much money...since 2006 its been kinda shakey ground for online poker in the U.S because there was a law passed making it ilegal to play for money.... there was still ways to make a deposit an play for real money in America..... probly wasnt a good idea to have kept... [ More ]

Comment #2

jackpotismine — Wed, 21 Sep 2011 13:24:03 GMT

Well said

Comment #1

dpoly1 — Wed, 21 Sep 2011 12:57:05 GMT

Well, the Federal Government should recognize a Ponzi Scheme when it sees one.

Most of what they do is a Ponzi Scheme

Full Tilt Poker a ponzi scheme, says U.S. attorney

Lottery Post — Wed, 21 Sep 2011 12:10:09 GMT

An Internet poker company that was blocked from operating in the U.S. in the spring as part of an online gambling crackdown was not a legitimate poker company, but a global Ponzi scheme, federal prosecutors said Tuesday.

The popular Full Tilt Poker website illegally raided player accounts to fund operations and make lavish payments to its owners, Justice Department lawyers said in a revised civil lawsuit filed in New York.

Over four years, the company used $444 million in player money to p... [ More ]