Full Tilt Reached Deal With U.S Justice Dept
The former man behind the scenes at Full Tilt Poker room, Ray Bitar, has finally ended his drawn out ordeal with the U.S. Justice Department by agreeing to a deal that will likely see him pay massive fines.
Bitar was charged with numerous counts including money laundering, bank fraud and operating a Ponzi scheme. The charges stem back to 2011 when the D.O.J. (Department of Justice) closed a number of internet poker rooms that also included Poker Stars, Ultimate Bet and Absolute Poker.
Attorneys for Mr. Bitar cited that he suffered from a serious heart condition and was in dire need of a heart transplant. If he were to face any type of jail time, he would likely not live longer than a year according to statements made by his attorneys.
He is expected to forfeit most of the money he amassed while serving as the CEO of Full Tilt. The total is rumored to be around $40 million. The steep fines will assure that he avoids jail time and that he will be able to receive the heart transplant his lawyers claim he so desperately needs.
Bitar’s case is one of the final closing chapters in the affair that online poker players call –“Black Friday”. Most parties involved in the indictments have already settled their cases and paid huge fines in order to escape jail time.
Poker Stars has since bought Full Tilt Poker from the U.S. government with part of the money from the proceeds going towards paying back American players who lost millions of dollars when the site was shut down.
Howard Lederer and Chris Ferguson, also part owners of Full Tilt have already settled their cases by paying over $80 million in combined fines to the US government.