Parsad Posted September 20, 2011 Share Posted September 20, 2011 I know there are a number of boardmembers who play poker, and probably at Full Tilt Poker...ponzi scheme folks! Cheers! http://money.cnn.com/2011/09/20/news/companies/poker_ponzi/index.htm?source=cnn_bin&hpt=hp_bn5 Link to comment Share on other sites More sharing options...
beerbaron Posted September 21, 2011 Share Posted September 21, 2011 Looks like a run on the bank. How come we allow banks to do it but not poker site is just a matter of perception... BeerBaron Link to comment Share on other sites More sharing options...
EdWatchesBoxing Posted September 21, 2011 Share Posted September 21, 2011 I read about Full Tilt today. Never deposited more than $100 there (for deposit bonus). Luckily, this was early on, around 2005. I had no problem taking out my initial deposit + money I won. Looking back, I'm glad I never attempted to make a serious run. I still play for small change, but not on Full Tilt. I guess casinos are safer places to poker. Makes me want to go to Brantford or Niagara! Link to comment Share on other sites More sharing options...
ERICOPOLY Posted September 21, 2011 Share Posted September 21, 2011 I live 10 minutes from Clearwater Casino Resort, but I've never gambled there. I prefer the CBOE. Link to comment Share on other sites More sharing options...
NormR Posted September 21, 2011 Share Posted September 21, 2011 I live 10 minutes from Clearwater Casino Resort, but I've never gambled there. I prefer the CBOE. The CBOE is where real men gamble and buy their bacon at the same time. 8) Link to comment Share on other sites More sharing options...
alwaysinvert Posted September 21, 2011 Share Posted September 21, 2011 Actually, the ponzi scheme (or FRB scheme :P) is not news to the poker community. The fact that they didn't have the player funds separated has been out there since just after the FBI clamp down. Glad to see Ferguson and Lederer finally taking some real heat, though. I was lucky and only had scraps deposited on FTP as my main game always has been on euro sites. Link to comment Share on other sites More sharing options...
given2invest Posted September 21, 2011 Share Posted September 21, 2011 Looks like a run on the bank. How come we allow banks to do it but not poker site is just a matter of perception... BeerBaron Run on the bank is when a banks assets are illiquid and they can't convert them to cash fast enough to pay out depositors. Full Tilt had negative book value due to the fact that they stole customer money. There were no tangible assets when the music stopped. The whole thing is nuts. Link to comment Share on other sites More sharing options...
EdWatchesBoxing Posted September 21, 2011 Share Posted September 21, 2011 I also remember reading about the player deposit abuse months ago on the 2 plus 2 poker forum. I think it was around the same time Phil Ivey stated that he wouldn't play in the world series, or something like that. Link to comment Share on other sites More sharing options...
DynamicPerception Posted September 21, 2011 Share Posted September 21, 2011 Not only did he not play he filed a lawsuit against FullTilt. http://www.lasvegassun.com/news/2011/jun/01/phil/ Link to comment Share on other sites More sharing options...
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