Chris "Jesus" Ferguson and Howard "the Poker Professor" Lederer are now getting further involved in the Full Tilt Poker scandal. Together with a few other persons in the Full Tilt management they are accused of taking 440 millions from their players and to have put them in their own pockets.
According to what the New York lawyer Preet Bhararar said to the Financial Times, Full Tillt Poker[...] Read more » Full Tilt management accused of taking $440m from its players
Joined: May '09
Location: India
Age: 37 (M)
Posts: 4873
this new statement will surely affect the decision of AGCC and any potential investors. either way doesnt look good for the players, dont see them getting their money this year
Joined: Oct '08
Location: Germany
Age: 49 (M)
Posts: 2025
Posted by MIGO14: don't see that players will get any money back... I guess Fulltilt will never be back in the business. Which investor will now give them fresh money ?
i doubt anyone will see a cent.. i also dont think they will find some crazy investors to invest in the FT brand. the software will be sold with a new name and new logo..
Joined: Apr '09
Location: Portugal
Age: 44 (M)
Posts: 4827
I have centered my attention in a single quote from the text: "according to the prosecutor, Full Tilt Poker has apart from that let some customers play for money they didn't deposit themselves, which has made the site's finical state even worse". This is a NDB, right? But noone can withdraw NDB withouth playing it, which means one has to "pay" the NDB with generated rake playing that money. I know that if i decide to pick my NDB and enter a cash table and loose it all in a single hand, i havent generated enough rake and that money entered in circulation in the site. Maybe most of the NDB never gets to be "payed", but considering the extraordinary huge amount of money FTP did only with the rake from ring games, i cant believe NDB would mean some kind of relevant cost to the company.
------------ I have centered my attention in a single quote from the text: "according to the prosecutor, Full Tilt Poker has apart from that let some customers play for money they didn't deposit themselves, which has made the site's finical state even worse". This is a NDB, right? But noone can withdraw NDB withouth playing it, which means one has to "pay" the NDB with generated rake playing that money. I know that if i decide to pick my NDB and enter a cash table and loose it all in a single hand, i havent generated enough rake and that money entered in circulation in the site. Maybe most of the NDB never gets to be "payed", but considering the extraordinary huge amount of money FTP did only with the rake from ring games, i cant believe NDB would mean some kind of relevant cost to the company.
Joined: May '09
Location: India
Age: 37 (M)
Posts: 4873
Posted by Fakiry: This is a NDB, right?
No i think these are the uncredited deposits. e.g. someone from US deposits 600$, depending on the processor it will take lets say 2 weeks to get to fulltilt. but fulltilt lets the player play with 600$ instantly. now if for some reason that money never reaches fulltilt, they are 600$ down
Joined: Apr '08
Location: Finland
Age: 35 (M)
Posts: 1613
"Full Tilt Poker has apart from that let some customers play for money they didn't deposit themselves, which has made the site's finical state even worse."
Like phil ivey, durr, and antonius playing heads up with someone elses money to create publicity ???
Joined: Apr '11
Location: Romania
Age: 35 (M)
Posts: 6669
If there will be an investor there will be a completely new management team of course and the new site will keep just the name and software from the old one.
The evidence that was published lately show a really negative image about full tilt poker, now we don't know if all is true but i'm sure around 80% is true...
Well, the same FTP sh*t every day. I'm just shocked as hell that Ferguson could've stolen $25M... He is (or was?) my favourite player but now... Full Tilt is down and I don't think they will be up again anytime soon - perhaps never.
Joined: Feb '11
Location: Switzerland
Age: 31 (M)
Posts: 122
fortunately I didn't played much on FullTilt. After a few months I played at FT I went to pokerstars and now I have all my money there. I hope that PS is safe.
Joined: Nov '10
Location: Thailand
Age: 55 (M)
Posts: 1
I'm not sure who writes these articles for your site but English is obviously not their first language. Have any of them ever heard of something called spell check or grammar? I mean a grade 8/9 student in my country could do a better job than this, it makes your website look like a bit of a joke. If you're going to write a report on something in English you might want to at least consult a native speaker guys, come on.....
