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Doyle Brunson speaks out on the Full Tilt scandal

Tags: black friday, doyle brunson, full tilt poker, full tilt poker, scandal, twitter
Posted on Wednesday, February 22, 2012 by "T".
A few weeks ago, Doyle Brunson promised his followers on twitter that he would write his own thoughts on Black Friday and the Full Tilt scandal. Two days ago, just as promised, The Godfather of Poker posted a blog on the matter that has affected hundreds of thousands of players all over the globe. When you are up your friends know who you are, when you are down you know who your friends are Th[...]   Read more » Doyle Brunson speaks out on the Full Tilt scandal

  22-Feb-12, 13:30   #1
Doyle Brunson speaks out on the Full Tilt scandal 0 
Fakiry 

Joined: Apr '09
Location: Portugal
Age: 37 (M)
Posts: 4764
Doyle Brunson´s statement is very interesting. When he introduces the way of working in Doylesroom, he clarifies that there was a working capital to prevent the worst if the company shuts down. I believe that a billion dollar company like FT must have had, in some time of its life, a fund or a working capital to prevent a situation like this. But, like Brunson says, having pro poker players, who dedicate their entire life to the game that it was their job, taking care of the business instead of hiring a group of top managers to do the work well done, it’s really strange. Ok, a manager is very well paid, but that happens because their functions are vital for the health of the institution.

     
  22-Feb-12, 14:46   #2
  -1 
B1gfoot 

Joined: Mar '08
Location: United Kingdom
Age: 37 (M)
Posts: 6714
Doyle is a cool guy, great player, but why open his mouth about something he clearly knows nothing about, comparing FT to his room, first his faild, FT were not given the chance to fail as such, and they will be back, second, companies are run in diffrent ways thats why some work some don't, third he compared a local cake maker to Mr.Kipling, you would be suprised how many well know respected companys run close to bankruptcy whilst the world thinks they rake it in.
Perhaps he is getting a little too old...contradicting and playing a guessing game here, though he does admit he knows little what went on or understands, missing out on some of the very basic errors of FT that are now very public.
Keep your friends close and your enemies closer huh Doyle.

     
  22-Feb-12, 16:17   #3
  0 
starbay 

Joined: Feb '11
Location: Ireland
Age: 44 (M)
Posts: 476
i believe ferguson,lederer and all those on the board had to know something was going on,there on the board of a billion dollar company and they want us to believe thet had no knowledge of the finances of their company...try pull the other leg ffs
if i had invested a lot of money setting up a company id want to know every last detail of what goes on in my company

     
  22-Feb-12, 16:32   #4
  0 
IslandJack 

Joined: Oct '09
Location: Belgium
Age: 53 (M)
Posts: 2847
I´ve been looking around, and his statement is NOT well received on most forums.
and by me.

Obviously a reaction to Daniel´s recent video blog.
On Twitter he says he will clarify, but I prefer he not say anything more to add to this.
He´s just trying to defend his friends.
Quite enough info has come out to make a number of things clear.
My opinion.

     
  22-Feb-12, 18:46   #5
  0 
pochui 

Joined: May '08
Location: Lithuania
Age: 32 (M)
Posts: 8628
i think there are some interesting thoughts in this statement- one thing that caught my eye is that there were bigger shareholders than lederer and ferguson, but there is no info about them- why so and who the hell were they- i think it is important to know their identities

     
  22-Feb-12, 19:55   #6
  0 
Macubaas 
Joined: Apr '11
Location: Romania
Age: 27 (M)
Posts: 6668
Doyle Brunson has nothing to do with the full titl poker deal, of course he is allowed to comment on any subject but he is not involved in this.

One thing is sure, the situation there it's a lot more complicated than we know...

     
  22-Feb-12, 21:12   #7
  0 
Greenmohave 

Joined: Jan '11
Location: United States
Age: 52 (M)
Posts: 3361
Very impressive details this whole deal I must say thank you Doyle. And, I have this feeling in my heart that your words are of truth.
I also believe if something or I should say if someone would have at the very least came forward and explained to the people what this information expresses it would have lightened peoples bad feelings or wants to blame sommeone.

Things would still be going on down that happy road if it weren't for the DOJ wanting to get their cut of the money. I will always believe that this is what the real deal is, the U.S. Gov. /DOJ just want the money they feel their entitled to. And, what's bad is, they will get their's before we get ours. So who's the real crooks here?

     
  23-Feb-12, 06:03   #8
  0 
kwasac 
Joined: Apr '10
Location: Serbia
Age: 25 (M)
Posts: 92
Thats why I am studying management! Big Smile If I were CEO at FT those things would never happen... Smile Seriously, how could you paying dividends with the money you didnt earn? They was making millions from rake, and they let this happen... Irresponsible!
PokerStars is now larger then ever, and I was watching their high-stakes table, those guys are not kidding at all, their rake is multiple times higher than it was at FT. :O
Billions of $$$, think about it. Smile Ofcourse they will do everything to keep it, and I am sure that this COMPANY is not lead by poker players... Smile

     
  23-Feb-12, 08:02   #9
  0 
rv 

Joined: Dec '08
Location: Latvia
Age: 26 (M)
Posts: 47
I laugh at people who says that Doyle knows nothing and that if they were CEOs nothing like this would happen and they know it all.

From what I have red and heard there have been many cases when large stock holders have been wiped out on misinformation.

One thing is sure, the situation there it's a lot more complicated than we know...

Indeed it is Thumbs Up

Edited by rv (Thursday, February 23, 2012 @ 08:19 GMT)


     
  23-Feb-12, 13:34   #10
  0 
Fakiry 

Joined: Apr '09
Location: Portugal
Age: 37 (M)
Posts: 4764
@kwasac, you do well in dreaming that high and concentrate on your studis very well, one never knows when the opportunity to get to a company or a place like this can appear. I started studying management too, but my accounting perception never found the same line of thought of the knowledge discussed in the classroom, so I quit.

     
  23-Feb-12, 14:32   #11
  0 
Serpang 
Joined: Jan '10
Location: Indonesia
Age: 53 (M)
Posts: 1477
Posted by Macubaas:
Doyle Brunson has nothing to do with the full titl poker deal, of course he is allowed to comment on any subject but he is not involved in this.

One thing is sure, the situation there it's a lot more complicated than we know...



Sure, I just hope government other country make wise decision, not just closed poker site ! But this case make other site be careful and money's player will be safe Smile . Anyway, Brunson's explanation really clear !

     
  23-Feb-12, 21:45   #12
  0 
GIOMi6 

Joined: Feb '10
Location: Suriname
Age: 39 (M)
Posts: 1189
Well the bottom line is that Full Tilt is broke and can not pay the players their funds back, that is very wrong and they did not come foreworth with a decent statement.

     
  17-May-12, 09:14   #13
  0 
JBCD71 
Joined: Aug '10
Location: Canada
Age: 45 (M)
Posts: 6
These guys Chris Ferguson and Howard Lederer didnt know a thing about black friday and you believeing them Mr.Brunson no disrespect,but get your head out of the sand buddy.They should never be allowed in the poker cummunity.never.

     
  17-May-12, 12:01   #14
  0 
noonlion 

Joined: Mar '12
Location: United Kingdom
Age: 32 (M)
Posts: 1277
Bitar is clearly a crook.

Ferguson and Lederer are guilty by association and their inaction and ingnorance - who tries to run a billion dollar company with no experience whatsoever????

It means you cannot question ANYTHING that you are told from someone that does know business.

Bitar bluffed the biggest bluff and they bought it - the money they were getting as shareholders was way too good for them to pass up obviously.

     
  17-May-12, 20:58   #15
  0 
petemcf 
Joined: May '12
Location: Ireland
Age: 35 (M)
Posts: 2
I think all three are guilty ,, wouldn't be the first bluff they tried to pull

     
  18-May-12, 01:34   #16
  0 
0HighTimes0 

Joined: Feb '12
Location: New Zealand
Age: 46 (M)
Posts: 143
Posted by noonlion:
Bitar is clearly a crook.

Ferguson and Lederer are guilty by association and their inaction and ingnorance - who tries to run a billion dollar company with no experience whatsoever????

It means you cannot question ANYTHING that you are told from someone that does know business.

Bitar bluffed the biggest bluff and they bought it - the money they were getting as shareholders was way too good for them to pass up obviously.


"Bitar is clearly a crook." "Ferguson and Lederer are guilty by association and their inaction and ingnorance"

I remember watching a game on Sky TV (ESPN or one of sport channels, Ozy Millions, or some High Roller game, if remember right, as there was FT & PS shows), which there game poker where, ferguson & Bitar and others and there was some friction in game , this was just before Black Friday.
I remember thinking that Bitar was idiot, and I had feeling there was something going on but i wasn't sure what!
I have tried to find footage of it, but can't find yet
Confused PS; or was it Daniel Tzvetkoff instead of Ray Bita im not 100% sure in-till i seen footage again! Confused

I came across this in news just after Black Friday too, very interesting

"TITLE; Poker scam hit as Gold Coast whiz turns FBI super-grass
AUSTRALIAN internet whiz Daniel Tzvetkoff, who has become a prized FBI informant in a bid to avoid a 75-year jail sentence in the US, may have brought down the multibillion-dollar American online poker industry.

The FBI announced on Friday that it had charged 11 people, including the founders of three of the largest internet poker companies in the US, with bank fraud, money laundering and illegal gambling offences. The poker sites PokerStars, Full Tilt Poker and Absolute Poker have been shut down.

It is believed Gold Coast entrepreneur Tzvetkoff's decision to turn super-grass and reveal the secret schemes used by poker companies to illegally launder billions of dollars via phony bank accounts and shell companies helped the FBI and New York prosecutors build their case."

Read more: http://www.smh.com.au/technology/technology-news/poker-...


http://www.smh.com.au/technology/technology-news/poker-...
edit PS; Confused

Edited by 0HighTimes0 (Friday, May 18, 2012 @ 02:34 GMT)


     
  21-May-12, 19:55   #17
  0 
initiator 
Joined: Nov '08
Location: Germany
Age: 40 (M)
Posts: 134
LOL .. may the flop be with you my brothers....

     
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