If you were expecting money from Full Tilt Poker ...

[PSP]

You might want to reconsiderhttp://www.pcworld.com/article/240309/poker_site_ran_massive_ponzi_scheme_on_players.html

 

[Mben]

Wow! A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation. I kind of don't think they are getting reinstated, for some strange reason. lolTo quote the news article I posted the other day Since they were stripped of their license, Full Tilt still owes players from all over the world, including the USA, millions of dollars. Complete payment to Full Tilt's players has been said to be a requirement of the poker site if they want to see their license reinstated. https://www.nodepositforum.com/t45072130/judgement-day-for-full-tilt-poker/

 

[PSP]

Mben wrote: Wow! A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation.

 Can you say Bernie Madoff? A couple of other quotes from the story: According to Bharara, Full Tilt not only lacked enough money on hand to cover its players' accounts, it used what money it did have to pay its board members and other owners more than $440 million over a four year period . Just before a criminal complaint was filed against Full Tilt back in April, investigators discovered that the gaming company owed its players $390 million -- $150 million of which was owed to U.S. players--but only had $60 million in its bank accounts .  

 

[PSP]

    The plot thickens - Will Jesus go to jail? <a href="http://news.yahoo.com/u-calls-online-poker-global-ponzi-scheme-185228376.html" title="http://news.yahoo.com/u-calls-online-poker-global-ponzi-scheme-185228376.html">http://news.yahoo.com/u-calls-online-poker-global-ponzi-scheme-185228376.html </a>      Chris Jesus Ferguson that is ...  

 

[Mben]

Anybody who had money tied up in Full tilt poker might want to check this out. <a href="http://www.gambling911.com/poker/full-tilt-poker-players-how-maybe-get-paid-092211.html" >http://www.gambling911.com/poker/full-tilt-poker-players-how-maybe-get-paid-092211.html</a>-- Edited by Mben on Tuesday 27th of September 2011 01:34:01 PM