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September 21, 2011 12:05 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/wELCcPdirys/Feds-Call-Full-Tilt-Poker-a-Global-Ponzi-Scheme
Feds Call Full-Tilt Poker a 'Global Ponzi Scheme'
blair1q writes "Popular (and heavily advertised) poker website Full-Tilt Poker was sued today by the US government, following an investigation that revealed it to be a massive Ponzi Scheme. The principals in the company set up a complicated system to direct funds from subscribers' poker accounts into their own bank accounts. This was in contravention of their own claim that users' money was untouched. Players' accounts amounted to $390 million, but the company only has $60 million in the bank, having over time distributed $440 million to its own directors and executives." 
Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/wELCcPdirys/Feds-Call-Full-Tilt-Poker-a-Global-Ponzi-Scheme
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