Does our Mr. Gillies know more about this?
Full Tilt is alleged to have credited players\’ accounts with $390m (£248m) it did not have, according to a lawsuit filed in New York on Tuesday by the US government.
Full Tilt\’s founder, Raymond Bitar, and other board members are also accused of paying themselves $440m from funds belonging to players between 2007 and April 2011.
\”Full Tilt was not a legitimate poker company, but a global Ponzi scheme,\” said US attorney Preet Bharara.
Mr Bitar is already one of 11 defendants named in an April indictment by US authorities seeking $3bn in penalties and alleging crimes including illegal gambling, money laundering and bank fraud.
Absolute Poker and PokerStars, which is based in the Isle of Man, were also among the companies named in the April indictment.
It seems a little confusing to say the least.
On the one side there\’s been the long battle by the US authorities to close all of these companies down. So is this just anouther stage in that?
Or have they really been naughty boys and been playing silly buggers with client monies?