Some poker sites posted the news that the Full Tilt CEO Ray Bitar has turned himself in to the US authorities. I can't post the links because they lead to sites competing with BRM but you can google the news. The details are sparse so far but I am sure that we will know much more already tomorrow....
Meanwhile, the Department Of Justice is singing: "Bitar, Bitar, Bitar, come to my boudoir...
Edited by schmoyster (Monday, July 02, 2012 @ 19:40 GMT)
Joined: Jan '11
Location: United States
Age: 53 (M)
It's just BS that the U.S had to step in and piss with the matter anyway. Maybe Bitar is the bad one now, but when we were all playing at FT no one gave two poops about this guy. The money would have kept rolling and the business would have prevailed in the long run, but the DOJ had to step on things and seize it. This could happen to any business! Look at the auto industry. If our governement wouldn't have bailed GM out the same thing would have or could have occurred. They be looking for all the wealthy CEO's that GM has. That's all that happened to FT! Stop someone's business venture in it's tracks and see what happens. They'll end up broke or in debt owing all their investors.