Its fully exposed FT was a scam from day 1. They never segregated the player funds from operating funds, they (the FT pros) were "loaning" themselves millions of players money. Both Ferguson and Lederer built multi million dollar mansions with their "pay" I was on Fergusons Facebook for awhile, till 1 day this couple looked to be in their 60's maybe 70's asked him for their $350 they had in FT cus they needed help with some bills. Now Ferguson may have sent them the $350 but his public reply was " Hey they got my money too nothing i can do about it"..
Well thats a GD lie and i couldnt hold back any longer and i raked his ass over the coals and gave him the best internet ass -whipping i could....Needless to say he booted me from his page....lol
But whats really bad is they keep dragging it out.....the reason being none of them want to say a word cus then it may look to the DOJ that THEY ARE the ACTUAL OWNERS of FT and then those million dollar mansions will be holding Holders next "commie club" get together and they will be broke and behind bars....where i agree they belong.
Tell me how in the hell you get an investor to buy a company whos reputation is shit......who cant get a gaming license anywhere....who lost 95% of their customers .....and doesnt have 1 penny in the bank and OOOOOOOOOO I almost forgot....owes $30 -$60 million to their former customers????????? Helluva buy there for sure!!!!!!!!
I was banned from the 2 biggest poker forums on the net for posting that FT was a scam years ago.....and played for the last 3 months at FT on free money cus they were taking deposits they had no way to collect.....Now ill get audited this year and prolly go to jail cus those deposits were made through a company set up by the Justice Dept just so they could make sure they got every dime they could from FT.
Eric Holder testified before congress they were not pursuing arrests but assets and the only reason that Black Friday happened at all was to quote " Thats where the money was". He said he told FT and the others to pay back the players and other than that the DOJ has no responsibility whatsoever to help players get paid and wont........
Well thats a GD lie and i couldnt hold back any longer and i raked his ass over the coals and gave him the best internet ass -whipping i could....Needless to say he booted me from his page....lol
But whats really bad is they keep dragging it out.....the reason being none of them want to say a word cus then it may look to the DOJ that THEY ARE the ACTUAL OWNERS of FT and then those million dollar mansions will be holding Holders next "commie club" get together and they will be broke and behind bars....where i agree they belong.
Tell me how in the hell you get an investor to buy a company whos reputation is shit......who cant get a gaming license anywhere....who lost 95% of their customers .....and doesnt have 1 penny in the bank and OOOOOOOOOO I almost forgot....owes $30 -$60 million to their former customers????????? Helluva buy there for sure!!!!!!!!
I was banned from the 2 biggest poker forums on the net for posting that FT was a scam years ago.....and played for the last 3 months at FT on free money cus they were taking deposits they had no way to collect.....Now ill get audited this year and prolly go to jail cus those deposits were made through a company set up by the Justice Dept just so they could make sure they got every dime they could from FT.
Eric Holder testified before congress they were not pursuing arrests but assets and the only reason that Black Friday happened at all was to quote " Thats where the money was". He said he told FT and the others to pay back the players and other than that the DOJ has no responsibility whatsoever to help players get paid and wont........
According to the complaint from U.S. Attorney Preet Bharara, Full Tilt Poker and its board, including Lederer and Ferguson, “defrauded players by misrepresenting that their funds on deposit in online gambling accounts were safe, secure, and available for withdrawal at any time.”
“In reality, Full Tilt Poker did not maintain funds sufficient to repay all players, and in addition, the company used player funds to pay board members and other owners more than $440 million since April 2007,” the complaint read.
The prosecutor is seeking money laundering penalties against the poker champs and is also seeking the forfeiture of money gained from the alleged scheme. The original complaint from April charged board member Raymond Bitar and 10 other defendants with bank fraud, illegal gambling and money laundering offenses.
“Full Tilt was not a legitimate poker company, but a global Ponzi scheme,” said Bharara, in a press release. “Full Tilt insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited with the company.”
“In reality, Full Tilt Poker did not maintain funds sufficient to repay all players, and in addition, the company used player funds to pay board members and other owners more than $440 million since April 2007,” the complaint read.
The prosecutor is seeking money laundering penalties against the poker champs and is also seeking the forfeiture of money gained from the alleged scheme. The original complaint from April charged board member Raymond Bitar and 10 other defendants with bank fraud, illegal gambling and money laundering offenses.
“Full Tilt was not a legitimate poker company, but a global Ponzi scheme,” said Bharara, in a press release. “Full Tilt insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited with the company.”
A thief is a thief no matter if they come and steal the car from my driveway or if they "hold" my money with no intention of ever giving it back. Should be treated one and the same. If they we aware of what was going on, they deserve to pay the penalty. If those guys were just blatantly stealing by taking deposits and living the highlife, karma has a way of coming back. It's not going to be pretty. Even if they dodge prison, I have a feeling they will be suffering in other ways until they come correct (if it's even possible).
I have said this in the past and will repeat it one last time. For the life of me, I have never understood why players want to play against these guys. If you truly want to make money playing poker, there are any number of easier spots to earn then sites like Full Tilt Poker.
