Oh JFC Preet:

I just read that also. interesting use of words yet again from the DOJ.

they are silly

wow bitar is beyond screwed.

dude is going to see serious jail time

I have to think there's going to be some kind of deal otherwise why turn yourself in?

wonder how much lederer paid him to take the blame.

How long b4 PPA takes credit for this to

With regulation they would not have been able to do any of this, and if they tried they would have been exposed very quickly with proper regulation, so I still stand behind what I said. That would be the point of having regulation, would it not?

what the feck is he doing in here, is this where fergy fas been all along?!
http://www.youtube.com/watch?v=tdZk3AmeGJE

Where did I say the doj made the law?

So can they charge him 5 years for each crime and would they add up. Like if he got 1 year for each crime would he just serve 1 year overall or would he serve 1 year +1 year +1 year for each crime that he did. Extreme newb at law.

he's going to jail for a long time

Ask Bernie Madoff. He turned himself in, too, and was not a fugitive from justice for a year, first.

Um, right there.

I am having a hard time seeing why Bitar is handing himself in given the damning counts against him.

Considering the apparent fact the superceding indictment was unsealed after Bitar landed at JFK, odds are reasonably high he did not know it was coming.

Sealed indictments aren't just sealed from the public, they're sealed from the accused.

doj said so that's why.

seriously

He said bluffed

Via the Associated Press:

http://www.lvrj.com/business/full-ti...161144445.html

Prosecutors sought detention without bail. A magistrate judge says she's inclined to grant bail.

A prosecutor calls Bitar a flight risk since it took him 14 months to return to the United States from Ireland to face charges. He says Bitar also might flee because he could face decades in prison if he's convicted of conspiracy, wire fraud and operating an illegal gambling business.

His lawyers say he has cooperated with authorities trying to recover money for online gamblers.

Madoff wasn't outside the USA in a friendly country dining on lobster.

Nathan Vardi: There does not appear to be a deal in place between Ray Bitar and the feds on criminal charges. He faces up to 145 yrs.

Pot, meet kettle.

marco are these events a precursor to a deal between ftpdojps?

and what happened to your beard.

much props too for hunting down howard. I wish you'd do that again

You're missing the point. Madoff turned himself in despite any assurances from DOJ about any sort of deal on length of prison sentence. It's entirely possible that Bitar has done the same.

In Madoff's case, he may have done so, in order to prevent someone he ripped off from busting a cap in him. It's entirely possible that Bitar has done the same.

Madoff ended up getting something like 150 years in prison, no parole. It's entirely possible (though somewhat unlikely) that Bitar gets roughly the same.

No matter his treatment. 145 Years? Doesn't matter.
End user / U.S. customer citizen protection FIRST. Please don't spoil money from PS/FTP.

Agreed. Regulation would have been better than forcing them into the dark. But hindsight is 20/20.

I'm just saying that it is better that someone who is willing to do the things that Bitar was willing to do is not in charge of a company overseeing $350 million + of other people's money anymore. He was exposed. Nobody forced him to do anything he did. Greed was the motive behind his actions.

Don't forget that they were licensed, they were supposed to have all the money on hand, yet this happened anyway. It could have happened here, too. I don't think Alderney should escape our scrutiny. Personally, if I were ROW, I would not put any money on a site licensed by them ever again.