Full Tilt Poker’s Disgraced CEO Ray Bitar in Custody: Angry Tweets Target Howard Lederer
It didn’t take long for the Twitter universe to light up once news broke of Full Tilt Poker CEO Raymond Bitar’s arrest at New York’s JFK International Airport early Monday afternoon (Eastern Standard Time).
Bitar has been hiding out in Ireland over the past 14 months since indictments were handed down against him for money laundering and bank fraud in connection with the operation of now defunct Full Tilt Poker. For a period of years right up until its abrupt closure last summer, Full Tilt Poker had been the world’s second largest online poker venture.
A second indictment against Bitar was unsealed Monday alleging he continued to pocket player funds and mislead customers as to the solvency of FTP the months following an original April 15, 2011 indictment. To this day, customers of Full Tilt Poker have yet to get paid.
While international bank seizure notices were filed by the US Government, the typical time frame in which a foreign bank acts is one year, enough time for Bitar and company to take the money and run (so to speak). The US Government is believed to have access to reserve funds maintained with payment processors. Fines against defendants are also being assessed.
Customers of Full Tilt Poker could still be in luck as rival PokerStars reportedly agreed to make all players whole with the purchase of FTP’s valuable assets, including its software and customer list.
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What They Were Tweeting Monday
There does not appear to be a deal in place between Ray Bitar and the feds on criminal charges. He faces up to 145 yrs.
Bail not yet set! Is Ray Bitar a flight risk? Prosecution: "Took him 14 months." Defense: "He's worked on repayments."
2+2er ITRIED2WARNU: Preet Bharaha is walking around the DOJ office today wearing a shirt that says "I busted a CEO at Full TiltPoker".
The poker community was quick to come down hard on Howard Lederer, the public face and apparent primary stakeholder in Full Tilt Poker, who authorities claim engaged in an elaborate ponzi scheme along with Chris Ferguson and Bitar.
Welp feds arrest ray bitar today. Ud better start running now howard!!! #federalpoundmeintheassprison
I would REALLY like to see Howard Lederer's Vegas Summerlin Mansion seized & put up for sale. His giant life size chess board tilts me
First nitty thief in history RT @AsianSpa: Hopefully since Ray Bitar turned himself in @howardhlederer is the next to be wearing leg irons. Howard stole from us as he lived a baller
I predict Howard Lederer and/or Chris Ferguson will play in the@WSOP Main Event. FTP's Ray Bitar (DOJ arrested) will take the fall for them
*JSTAT, the odds of either men playing in this year’s WSOP Main Event are probably somewhere around 1000/1. Those two stand a good chance of getting stoned if they show their faces. But then again, they have displayed amazing audacity up to this point so we get where you are coming from.
@AgentMarco this is despicable - I really want to hear how involved Howard Lederer was in this - and the top sponsored players. any info???
Get ready @howardhlederer and make sure @suzielederer packs u a lunch, ur time is coming! Shackles & cuffs will be ur new friend#Thief
Are you kidding me? Watch this Howard Lederer videohttp://bit.ly/IkXWwY Howard, from the bottom of my heart, you suck.
- Chris Costigan, Gambling911.com Publisher
