Full Tilt Poker Disgraced CEO Raymond Bitar Must Remain in Prison

Written by:
Aaron Goldstein
Published on:
Jul/08/2012
Full Tilt Poker Disgraced CEO Raymond Bitar Must Remain in Prison

Following his arrest this past week, Full Tilt Poker’s CEO Raymond Bitar was unable to make the bail term requirement of $2.4 million.

Cake-Square-010712.jpg

Over the weekend, things suddenly changed.  It now appears as if Bitar will remain in prison for the foreseeable future.   The $2.4 million bail deal will no longer be in effect. 

From Compatible Poker:

This weekend it was announced that despite earlier news that he was free on bail, federal prosecutors triggered a new debate on the validity of the bail terms based on new evidence found in the unsealed indictment. In the end, the presiding judge Paul Engelmayer, suspended the earlier permission granted for bail and ruled instead that Ray Bitar needs to remain in prison for the time being.

Bitar is charged with money laundering and bank fraud in connection with what was once the world’s second largest online poker company.  A superseding indictment charges Bitar with running a ponzi scheme since the initial April 15, 2011 charges were filed.  Prosecutors contend that the Full Tilt Poker CEO squandered funds taken in from players outside the US on himself and other high ranking employees. 

- Aaron Goldstein, Gambling911.com

Poker News

Antoine Saout,  Bryan Piccioli, Damian Salas Eliminated from WSOP Final Table

Antoine Saout, Bryan Piccioli, Damian Salas Eliminated from WSOP Final Table

Frenchmen Antoine was one of two players to make a repeat appearance at the Final Table

And We’re Off – 2017 WSOP Main Event Resumes

And We’re Off – 2017 WSOP Main Event Resumes

The 2017 World Series of Poker Main Event is down to a final table. Only nine players remain of a field of 7,221, all guaranteed $1,000,000 at this point.

Meet the Final Nine of the 2017 WSOP Main Event: Three to be Eliminated Thursday

Meet the Final 9 of the 2017 WSOP Main Event: 3 to be Eliminated Thursday

WSOP.com presents a look at each of the nine finalists at this year’s World Series of Poker Main Event. 

Shane Faulk Wins $132,262 in HPT 200th Event

Shane Faulk Wins $132,262 in HPT 200th Event

Shane Faulk dominated the final table at Heartland Poker Tour's (HPT) 200th event Monday at Golden Gates Casino & Poker Parlour to capture the title, bracelet, and $132,262.

2017 WSOP Final Table Set: Two Players Make Repeat Appearance

2017 WSOP Final Table Set: Two Players Make Repeat Appearance

After 10 days, the 2017 World Series of Poker Main Event final table is finally set, and it's one for the history books.

Syndicate