More bad news regarding Full Tilt Poker was released today in the form of an amendment to the civil law suit filed against the company. The amendment claims more than 20 owners and shareholders were paid up to $443 million.
This would include CEO Ray Bitar getting approximately $41 million, Howard Lederer approximately $42 million and Chris Ferguson $25 of a said $85 million allocated to him as “distributions” all the while the company “failed to protect players funds as promised” according to prosecutors.
Preet Bharara US Attorney for the Southern District of New York described Full Tilt in a statement as “Not a legitimate poker company, but a global Ponzi scheme.”
According to page 63 of the filing which you can read here in its entirety:
Full Tilt Poker not only operated an unlawful gambling business and committed the bank fraud, wire fraud, and money laundering as described above, but also defrauded its poker players by paying out hundreds of millions of dollars of player funds to Full Tilt Poker owners while misrepresenting to players that funds credited to their online player accounts were secure and segregated from operating funds.
In fact, Full Tilt Poker did not segregate player funds from operating funds and did not keep player funds secure and available for withdrawal. Full Tilt Poker used player funds, among other things, to maintain a steady flow of payments to its owners, totaling more than $443 million over the last four years, despite the fact that Full Tilt Poker did not have sufficient funds to repay its players.
Casino operator, Red Rake Gaming (RRG), has grown its presence in the Eastern European market following a partnership with Pokerdom, which it praises as one of the biggest providers in the region. As a result of this deal, the provider from Spain and Malta will distribute its lobby of slot games to Joker Online and Pokerdom. Red Rake Gaming continues to push the limits with new gaming concepts based on the experience of players in the game development cycle.
QTech Games has announced its latest high-quality supplier partnership with esteemed iGaming provider, Realtime Gaming (RTG). According to this collaboration deal, the number-one games distributor across Asia and emerging markets will gain excess to the high-quality RTG portfolio.
Under the terms of the agreement...
…the provider’s full content suite is now available to QTech clients and their players.
Casino supplier and game developer, Playson, has shared news of successfully completing an audit by the Swedish iGaming regulatory body.
This means that the developer is now fully certified in the recently reorganized and very lucrative Swedish gaming market.
The security audit, as the company explains in a press release, including a rigorous testing process of its engineering, integration and product departments.
Fully Certified and Committed:
