Full Tilt Poker is in Legal Trouble Once Again
Full Tilt Poker finds itself in trouble once again. Last week, the company was sued in California by two former players who are seeking roughly $900 million in damages.
The Los Angeles Times broke the news, stating that the lawsuit was filed in federal court, accusing Full Tilt Poker of money-laundering, fraud, and racketeering. On their own, these three charges are serious. When combined, it makes you wonder if this once proud online poker service is ever going to find stable ground.
Greg Omotoy and Larry Kennedy, both Los Angeles residents, are the plaintiffs. There is a long list of defendants, including Full Tilt Poker CEO Ray Bitar, and board members Chris Ferguson and Howard Lederer. Are you familiar with Gus Hansen and Phil Ivey? Both of these professional poker players are also named as defendants for their part in promoting the service.
Although Full Tilt Poker had its license revoked by the Alderney Gambling Control Commission (AGCC) last month, the company hopes to reapply in the near future, especially if it is taken over by potential buyer, Groupe Bernard Tapie. This group hopes that a focus on the European market will pull the company out of its troubled past and reclaim its spot at the top of the industry.
To make things even worse, Bitar, Ferguson, and Lederer, as well as Rafe Furst (director) are being investigated in the United States. Some have had their personal assets seized.
Since Full Tilt Poker was shut down in April, the company has not been able to operate. With each passing day, it is losing money as well as the trust of the industry. When you add in millions of dollars owed to players all over the world, it is hard to imagine that the onetime king of online poker will be able to make a comeback – at least not until the company changes ownership.
What are your thoughts? Will Full Tilt Poker ever recover? Let us know in the Full Tilt Poker Forum.