FullTilt Poker Ponzi Scheme and the DOJ

Searching_ _ _ · Sep 20, 2011

The U.S. Justice Department on Tuesday accused poker celebrities Howard Lederer and Christopher Ferguson among other executives of a major poker website of defrauding poker players out of more than $300 million.

The U.S. Attorney in the Southern District of New York filed a motion Tuesday to amend an earlier civil complaint to allege that Mr. Ferguson, Mr. Lederer and two other directors for the website, Full Tilt Poker, operated what the Justice Department says was a Ponzi scheme that allowed the company to pay out $444 million to themselves and other owners, which included other famous poker players.

In the motion to amend the complaint, the government alleges Full Tilt executives misrepresented to the website's players that the money the company was supposed to be holding in player accounts was safely held when it was actually being used for other purposes, including payments to owners.
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FullTilt Poker Ponzi Scheme and the DOJ - WallStreet Journal

ABee · Sep 20, 2011

I wouldn't want to play that hand.
Not a good day to be Howard Lederer or Chris Ferguson.

What does this have to do with software, btw? Other than that Full Tilt Poker uses some on their website.

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FullTilt Poker Ponzi Scheme and the DOJ

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