DOJ says Full Tilt was a global Ponzi scheme
20 September 2011
By Dan Igo
The U.S. Department of Justice (DOJ) said on Tuesday that Full Tilt Poker operated as a “global Ponzi scheme” and that its primary owners, including poker professionals Howard Lederer and Chris “Jesus” Ferguson, defrauded the site’s players out of hundreds of millions of dollars.
The DOJ filed a motion to amend an earlier civil complaint against Full Tilt Poker to include “additional allegations, claims, and defendants concerning a fraudulent scheme by Full Tilt Poker and its Board of Directors concerning the misuse of players’ funds,” according to a memorandum sent out by Preet Bharara, U.S. Attorney from the Southern District of New York.
“Full Tilt was not a legitimate poker company, but a global Ponzi scheme,” Bharara said in a statement. “Full Tilt insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited.”
The great equalizer visits New York’s Belmont Stakes! [gplus count="true" size="Medium" ]
All this week, I felt pretty confident that AK would take this race. It definitely was his to lose! The race between between AK and Shackleford proved to be the ONLY thing to consider.
After all, S loves the front end, but can’t hold on… AK loves to come from behind to take the win… especially since the Belmont is the longest race of the Triple Crown at a mile and a half!!
How could a come-from-behind horse with the stamina of AK NOT win???
Answer: When the great equalizer comes to the track! Read the rest…
My Squidoo lenses were “locked” today. That means taken down, unpublished, hidden away, destroyed, obliterated, bombed, and killed. Know why? Because they were about the Horse races; Kentucky Derby, the Preakness, and one about Las Vegas (and how to save money on your next visit).
Those lenses were labeled by the Squidoo Brainiacs as Gambling.
These were simple lenses of information – that’s all – information. But the Squidoo Fools called the lenses: “Gambling”
Yes, Surprise was the word of the day yesterday as the Titanic of horse racing, the 1-9 favorite Uncle Mo lost to two (not just one, but two – Toby’s Corner and Arthur’s Tale) rivals in the Wood Memorial.
BTW: As you know, I had picked Uncle Mo to win that race (as did everyone else it seems – after all, he went off at 1-9) so that was a loss. What I didn’t have time to tell most of you was this. When Uncle Mo showed those odds (1-9) I jumped off him! At those odds, no horse is bettable because you risk your money for a very small return… it’s just not smart! So, the play in this case was to bet EVERY OTHER HORSE to win… and hope for an upset. Because, the closest odds to the favorite was an amazing 17-1 (late betting pushed him down to 8-1 – may have been his connections who always bet at the very last moment)… the other horses were well into the high 20′s, the 30′s, and beyond. So, place one unit on each of the other horses to win, and 2 units on the favorite-of-the-rest (8-1).
Playing $10 units, your bet would have been $90, and your return was nearly $200.
At the start of that race, Uncle Mo was also the favorite to win the Kentucky Derby. Less than two minutes later… dog meat! Well, that’s a little harsh, he’s still a good horse in a so-so crop of 3 year olds. That’s horse racing! As we know, anything can and does happen. Unless it’s discovered that Uncle Mo was injured (and Bob Baffert said he tore a quarter at the gate) Uncle Mo had no excuses as the times were very, very slow.
The race to enter The Kentucky Derby tightens up considerably today through two very important prep races; the Santa Anita Derby, and the Wood Memorial.
Here’s how I see them:
Santa Anita Derby – Today’s SADerby is going to be hottly contested based upon of all things: the horses! Duh! You say… but consider the facts that great careful breeding, high prices, famous connections, perfect training and deep pocket owners can all do their parts and still not make the grade… in this case: The Grade I, Million Dollar SAD!
Allow me to rant! I want to join those who are disappointed at the least, and furious at most that Pia Toscano was eliminated from American Idol last night.
For me, the show is dead. I won’t be watching it anymore. I will find out who won of course in a few more weeks, but I won’t be watching it anymore.
It’s very important to note that one can Google “Pia” and she’s first and foremost out of millions of pages. The US has fallen in love! Not only is she the most beautiful girl on the show (sorry Lauren and what’s her name [Hailey]), but IMO the most talented too!
On one hand, I feel sorry for Cam Newton (QB – Auburn). Not for what he’s done, but because he’s doing just what his low-life father has taught him to do. Read the rest…
Oregon is #1 in BOTH (human) polls.
Oregon beat its opponent this week by a larger margin than did Auburn.
Oregon scores more points (and much sooner) than any other team.
Is ranked FIRST in many stats.
Oregon has a legitimate Heisman candidate.
Oregon has allowed fewer points in the second half than ANY other team.
(These facts just keep coming)
Yet Oregon is #2 to Auburn???????
… and ever worse: #3 Boise State (.8846) is closer to #2 Oregon (.9060) in points than Oregon is to #1 Auburn (.9371) in points….. What are they thinking? Read the rest…
You all know I’m a big Obama supporter. That being said, I’m naturally a big Democratic Congress supporter… so what the hell’s wrong?????
Ignoring for the moment ALL the current (popular) complaints, gripes and whines… I’ve got two little (?) issues that are driving me MAD! Mad as in Angry, not insane – LOL
First, why can we find money for the war(s), the bail out of banks that brought it upon themselves to fail (?), car manufacturers too, aid to any and every catastrophe that happens around the World (including our boasting enemy – Pakistan and their recent flood) – YET – we can’t “find” any money to help out our own Americans who have lost everything due to YOU KNOW WHO and the HORRIBLE policies put into place during THEIR administrations (don’t guess – I’m talking about Bush and Reagan – with a little Clinton thrown in for balance (’cause he signed that awful bill that has allowed – no FORCED our jobs overseas).
Unlawful Internet Gambling Enforcement Act of 2006
Overview
May 20, 2010
This document provides an overview of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA or Act), 31 USC 5361-5366, and sets forth procedures for reviewing compliance by financial institutions with the joint rule promulgated pursuant to the Act by the Department of the Treasury (Treasury) and the Board of Governors of the Federal Reserve System (Federal Reserve Board). An identical joint rule is published in two parts of the Code of Federal Regulations (12 CFR Part 233 (Federal Reserve Board) and 31 CFR Part 132 (Treasury)).
On that day, HR2267, the gambling bill written by Congressman Barney Franks (overturning the UIGEA) passed through the House Financial Services Committee, and signed on it’s 70th Co-Sponsor, Rep John Campbell, California.
It’s not such a small step either. Before the bill even reaches the House for a vote, we have a great number of Lawmakers ready to vote YES!
While the House Financial Services Committee approved the Internet gambling regulatory bill, it has been now been sent to the House Energy and Commerce and the House Judiciary committees.
If the bill passes those committees, it would go before the House of Representatives. It needs only a majority of the vote, only 148 votes in favor of the bill are needed.
The House is on vacation this month (August) and has a full agenda when it returns in September. Just when they’ll get our bill of course, is anybody’s guess right now.
Add to that, the November election is looming and looking very shaky so that will have a definite dampening effect on when (or if) our bill, which would regulate online gambling in the US by overturning the UIGEA, comes to a vote.
Unfortunately for sports fans, Online Sportsbooks in the US would not be covered by this legislation.
So, let’s hope more co-sponsors sign on. Let’s hope the bill goes to the House for a vote. And let’s hope the outcome is the only fair one – the revocation of that horrible UIGEA.
I hope you all hate (hmmmm dislike) Microsoft. If not for their poor (Horrible) products, then for their poor (Horrible) business practices. (Don’t get me started – ’cause it goes all the way back to their early days – read about those pirates yourself).
Now, our beloved Yahoo has decided to get into bed with the Redmond, WA bandits. They’re merging their Search Marketing with (gag) Bing!
We who love Gambling (and that really includes EVERYONE – if you don’t believe me – stop buying Stocks, Bonds, Insurance Policies, and picking your Mate) had to leave Google… and now Yahoo too!
There is a (silly?) law in California that in essence states that an outcome cannot be determined by a roll of dice.
So, where does that put us Craps players? The answer is GREAT news!
California law says that instead of using dice in a gambling game, casinos must use either cards or a combination of cards and dice.
Without going into the math of how many cards to use, let me just say that 264 is the magic number. And for this post, I’m going to concentrate on one Casino that uses 264 cards numbering Ace (1) through six. No other cards are used.
That Casino is in San Diego (Alpine), and it’s called Viejas! http://www.viejas.com/
Now, let me tell you why the news is so good: Read the rest…
I’m still here in Las Vegas – enjoying some profitable sports bets plus a few horses too! I’ve been away too long to know the horses, but I’m happy to see that the same handicapping tricks I used to teach STILL WORK!!!!
I stumbled upon a unique person… here’s a handicapper that Read the rest…
I recently found a guy that’s offering Roulette training for the rest of us. If you’re sick of systems, progressions, and table guessing… check this out:
You’ll have to excuse the poor English and the misspellings and concentrate on what he’s teaching. I believe he’s hit on the ONLY way to reduce the ridiculous house advantage that is built into Roulette.
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