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Ray Bitar (FTP CEO) Surrenders to US Government - Confirmed by DOJ Ray Bitar (FTP CEO) Surrenders to US Government - Confirmed by DOJ

07-03-2012 , 02:20 PM
Clonie Gowan can re-sue maybe?

And the Bitar end comment was A++
07-03-2012 , 02:21 PM
I mean i'm in the same boat as a lot of people... I kind of looked at Bitar surrendering as pretty good news as far as us getting paid goes. I mean why would the guy surrender if he wasn't pretty sure that a deal was close to being done? That just seems like common sense to me. I know that Diamond Flush has already said that his surrender has no bearing on the deal what so ever, but this just doesn't seem like coincidence to me. I mean, can someone explain to me how his surrender, the deal, and the "extension" all tie together, if at all? I mean Bitar did say "we're near the end of a long road". Granted, it IS Bitar who said it, so it's not like it's set in stone or anything, but I feel like he didn't have to say that. Thus it should be more of an honest statement or am i way off here?
07-03-2012 , 02:30 PM
Quote:
Originally Posted by Haystacks
So in 2010-11 the US Govt was clamping downheavily on payment processors, making it increasingly problematic for FTP & PokerStars players in the US players to fund their accounts.

However, PokerStars seemed to be able to function pretty adequately prior to Black Friday, whereas FTP instead chose to resort to fraud.

Which begs the question, how was PokerStars able to get round those same payment processor problems?
Short version: Stars had the same problems but faced them instead of sweeping them under the rug ...

In early 2011 PStars removed large amounts of money from player accounts to reverse deposits which were credited months before but for which they never received funds. I think many of the reversed deposits were 3-6 months old. I don't know that anyone has commented on the total amount of phantom deposits they had but given the length of time involved it's gotta be 8 figures.
07-03-2012 , 02:31 PM
Quote:
Originally Posted by ShipItYo
I mean i'm in the same boat as a lot of people... I kind of looked at Bitar surrendering as pretty good news as far as us getting paid goes. I mean why would the guy surrender if he wasn't pretty sure that a deal was close to being done? That just seems like common sense to me. I know that Diamond Flush has already said that his surrender has no bearing on the deal what so ever, but this just doesn't seem like coincidence to me. I mean, can someone explain to me how his surrender, the deal, and the "extension" all tie together, if at all? I mean Bitar did say "we're near the end of a long road". Granted, it IS Bitar who said it, so it's not like it's set in stone or anything, but I feel like he didn't have to say that. Thus it should be more of an honest statement or am i way off here?
I thought I could distinguish these two things but I can't. I have to believe that the DOJ would not sign off on a deal unless they had him in custody. I mean, he is still CEO of Full Tilt according to his lawyer. He has to sign the deal. Is the DOJ going to sign a deal with a fugitive who is evading arrest? Seems unlikely imo.

Also, WHY IS HE STILL CEO!?
07-03-2012 , 02:33 PM
How about a collection for Bitar's legal counsel? The man did NOTHING wrong!

Support Ray Bitar!!!!!
07-03-2012 , 02:45 PM
He and the PS CEO can meet in a prison conference room...
07-03-2012 , 02:45 PM
Quote:
Originally Posted by ShipItYo
I mean i'm in the same boat as a lot of people... I kind of looked at Bitar surrendering as pretty good news as far as us getting paid goes. I mean why would the guy surrender if he wasn't pretty sure that a deal was close to being done? That just seems like common sense to me. I know that Diamond Flush has already said that his surrender has no bearing on the deal what so ever, but this just doesn't seem like coincidence to me. I mean, can someone explain to me how his surrender, the deal, and the "extension" all tie together, if at all? I mean Bitar did say "we're near the end of a long road". Granted, it IS Bitar who said it, so it's not like it's set in stone or anything, but I feel like he didn't have to say that. Thus it should be more of an honest statement or am i way off here?
Mostly people are just happy that there is some action after a lull. The big hope is that Bitar's surrender means that soon FTP will allow its assets to be forfeited to the DOJ. The DOJ can then sell the tangible assets, possibly to Stars. And the DOJ will arrange for the creditors to be made whole - or they will decide not to.
07-03-2012 , 02:46 PM
http://www.businessweek.com/news/201...in-n-dot-y-dot
"She also directed that he confine his travel to the Southern and Eastern District of New York and the Central District of California, where Bitar has a home and where relatives live. Bitar was directed to surrender his passport. "


So how does he travel from the Southern and Eastern District of New York to the Central District of California without traveling to other places on the way?
07-03-2012 , 02:53 PM
Quote:
Originally Posted by tarheelbluez
I hope Lock Poker read the 3rd charge in the indictment.
07-03-2012 , 02:57 PM
Quote:
Originally Posted by andyg2001
http://www.businessweek.com/news/201...in-n-dot-y-dot
"She also directed that he confine his travel to the Southern and Eastern District of New York and the Central District of California, where Bitar has a home and where relatives live. Bitar was directed to surrender his passport. "


So how does he travel from the Southern and Eastern District of New York to the Central District of California without traveling to other places on the way?
you can't be real
07-03-2012 , 03:01 PM
Quote:
Originally Posted by Stickit69r
you can't be real
LOL maybe theres a wormhole to get to California from New York. That could be how he gets there without breaking his bail conditions on the way.
07-03-2012 , 03:03 PM
Quote:
Originally Posted by andyg2001
http://www.businessweek.com/news/201...in-n-dot-y-dot
"She also directed that he confine his travel to the Southern and Eastern District of New York and the Central District of California, where Bitar has a home and where relatives live. Bitar was directed to surrender his passport. "


So how does he travel from the Southern and Eastern District of New York to the Central District of California without traveling to other places on the way?
Quote:
Originally Posted by Stickit69r
you can't be real
Stickit - haha that was my exact thought.

Nevertheless, Andy, allow me to rephrase the article for you: he is allowed to travel to CA and NY. Nowhere else. He is currently in NY, he has permission to travel to his home/family area in CA. If he goes to CA, he can return to NY.

Get it?

Also, let's play poker together sometime, Andy.
07-03-2012 , 03:08 PM
Quote:
Originally Posted by andyg2001
LOL maybe theres a wormhole to get to California from New York. That could be how he gets there without breaking his bail conditions on the way.
Or maybe...jeez, I'm not sure, but just mayyyybe, there's a mechanical contraption that can depart New York, and end up in California, without having to stop somewhere in between.

I dunno, let's get the scientists and researchers on that, stat.
07-03-2012 , 03:09 PM
Why would stars be in a rush to buy full tilt? American players can't play and thats Full tilt biggest market. So Stars can't repay americans through play. Unless online poker is right around the corner for america I'm not getting excited.
07-03-2012 , 03:11 PM
Quote:
Originally Posted by Mondogarage
Or maybe...jeez, I'm not sure, but just mayyyybe, there's a mechanical contraption that can depart New York, and end up in California, without having to stop somewhere in between.

I dunno, let's get the scientists and researchers on that, stat.
Doesn't matter he would still not be resticting his travel to only the places mentioned as he would have to pass though other places even if only in the air.
07-03-2012 , 03:11 PM
Quote:
Originally Posted by averagejoe9
Why would stars be in a rush to buy full tilt? American players can't play and thats Full tilt biggest market. So Stars can't repay americans through play. Unless online poker is right around the corner for america I'm not getting excited.
To extricate themselves from the civil complaint, that's why.

Full Tilt has no market right now, and no market share. Last I checked, Full Tilt hasn't dealt a hand for nearly a year, so no, the U.S. is not their biggest market, and they are not licensed anywhere. They have no market whatsoever.
07-03-2012 , 03:11 PM
Quote:
Originally Posted by Mondogarage
That's all well and good, but without government, in this instance, and you have 4-5 figures on FTP, and they're tits up, you're ****ed. Wanna calculate pot odds on that?
Without government I doubt FTP goes tits up.
07-03-2012 , 03:12 PM
Quote:
Originally Posted by andyg2001
Doesn't matter he would still not be resticting his travel to only the places mentioned as he would have to pass though other places even if only in the air.
Um, that is not how it works, unless you think he's going to pull a D.B. Cooper.
07-03-2012 , 03:15 PM
Quote:
Originally Posted by buzz12586
Without government I doubt FTP goes tits up.
Are you kidding? They appear to have been paying out dividends to owners from player funds as far back as 2008, according to the interceding indictment.

You're confusing their reaction to UIGEA with the action of government agencies.
07-03-2012 , 03:16 PM
Quote:
Originally Posted by andyg2001
Doesn't matter he would still not be resticting his travel to only the places mentioned as he would have to pass though other places even if only in the air.
Are you 7-years-old?
07-03-2012 , 03:19 PM
Quote:
Originally Posted by Mondogarage
Are you kidding? They appear to have been paying out dividends to owners from player funds as far back as 2008, according to the interceding indictment.

You're confusing their reaction to UIGEA with the action of government agencies.
Things were going fine until they started crediting deposits that were held up by laws (government). There were also large costs involved in skirting the laws. I agree paying owners out of player funds is a horrible idea but I think they would have kept afloat.
07-03-2012 , 03:21 PM
Quote:
Originally Posted by buzz12586
Things were going fine until they started crediting deposits that were held up by laws (government). There were also large costs involved in skirting the laws. I agree paying owners out of player funds is a horrible idea but I think they would have kept afloat.
In what world is being 200m short "going fine?" Yeah that sure wasn't going to blow up ever.
07-03-2012 , 03:23 PM
Quote:
Originally Posted by bizzle03

Also, let's play poker together sometime, Andy.
LOL worthy
07-03-2012 , 03:24 PM
Quote:
Originally Posted by buzz12586
Things were going fine until they started crediting deposits that were held up by laws (government). There were also large costs involved in skirting the laws. I agree paying owners out of player funds is a horrible idea but I think they would have kept afloat.
So you're blaming the very existence of government, as opposed to blaming the government for enforcing laws not determined to be unconstitutional.

Got it. The anarcho-capitalist thread is in the politards forum.

PS didn't need to resort to paying themselves dividends until they went into broke dick oblivion out of player funds, and they had to respond to the very same lawmaking in U.S. as FTP did. I wonder why that is...

...could it be because it's actually FTP's fault that FTP decided to take the steps that FTP took in response to legislation?
07-03-2012 , 03:35 PM
Quote:
Originally Posted by andyg2001
Doesn't matter he would still not be resticting his travel to only the places mentioned as he would have to pass though other places even if only in the air.
Are you freakin high right now?

You're ignoring the word "to". He can travel to California and to New York. He can pass through every city and state on the way, as long as he is going TO California or TO New York.

      
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