Ray Bitar (FTP CEO) Surrenders to US Government - Confirmed by DOJ - Page 14 - Poker News

Yeah he is/was CFO, you are probably right.

Anyway, here is the Linkedin profile since he asked.

http://ie.linkedin.com/pub/john-holland-fcma/16/117/211

07-02-2012 , 06:43 PM

#327

bizzle03

adept

Join Date: Aug 2006 Posts: 1,000

Quote:

Originally Posted by lilwhaldo

Ya well if they didn't make the law and instead regulated it this mess never would have happened.

So put it back in your pants please.

Have you seen how dumb Bitar and co. are? They WOULD have screwed it up.

Look at Pokerstars. A properly run company could survive the U.S. laws. A poorly run company could not.

07-02-2012 , 06:44 PM

#328

Kirbynator

Carpal \'Tunnel

Join Date: Aug 2006 Posts: 52,004

so... is there anything that sounds bad for players funds or are we assuming this is great news that he turned himself in and we might expect something from stars in less than a week?

07-02-2012 , 06:45 PM

#329

SpecialOne

journeyman

Join Date: Sep 2011 Posts: 282

Quote:

Originally Posted by Cerveza69

When does Howard Lederer turn himself in?

Spoiler:

07-02-2012 , 06:45 PM

#330

Joe Tall

Carpal \'Tunnel

Join Date: Apr 2003 Posts: 16,928

US Attorney and FBI offical PR on arrest of FTP CEO Raymond Bitar: http://www.scribd.com/doc/98914174/B...-PR#fullscreen

07-02-2012 , 06:45 PM

#331

IamPro

one time Plz???

Join Date: Jan 2009 Posts: 17,652

Quote:

Originally Posted by pianospike

US Attorney Press Release:

http://www.scribd.com/doc/98914174/B...-PR#fullscreen

meh, nothing on repayment just political bs

07-02-2012 , 06:47 PM

#332

FishyOnADishy

journeyman

Join Date: Jul 2011 Posts: 247

Quote:

Originally Posted by FishyOnADishy

Does this superseding indictment completely replace the previous one, or does it only replace the previous indictment against Bitar and Burtnick?

It seems to me that Bitar and Burtnick are being held responsible for FTP, and Burtnick is being held responsible for PS; no sign of Scheinberg. Is this how Scheinberg is going to be eased out of legal difficulties - introduce a new indictment that pins all the blame on somebody else?

Quote:

Originally Posted by pianospike

US Attorney Press Release:

http://www.scribd.com/doc/98914174/B...-PR#fullscreen

According to this statement (page 3), the charges against the other defendants are still pending:

"BITAR is the seventh of the eleven defendants charged in connection with the originalInternet poker indictment to have been arrested. The others arrested to date – Bradley Franzen,Ryan Lang, Ira Rubin, Brent Beckley, Chad Elie and John Campos – have each pled guilty andawait sentencing with the exception of Campos, who was sentenced in June 2012 to three monthsin prison. Charges are still pending against the remaining four defendants – Burtnick, IsaiScheinberg, Paul Tate, and Scott Tom – who are at large, and are presumed innocent unless anduntil proven guilty."

So that answers my question.

07-02-2012 , 06:50 PM

#333

sluggger5x

John Connor of poker

Join Date: Feb 2006 Posts: 5,592

All I am reading in the SDNY press release is that Bitar was picked up at JFK airport and arrested. Do we know for sure whether he turned himself in or was he caught by the FBI?

07-02-2012 , 06:52 PM

#334

Zomboid!

grinder

Join Date: Jun 2011 Posts: 672

Quote:

Originally Posted by Hash1982

This is so grose:

From this is looks as though CC-1 (Howard L??) was unaware what Bitar was doing.

Also, who is CC-2?? (FTPs Director of finance)

Nah. See paragraph 17, where Bitar emails Cc1 that "we are not a bank" and that funds are always at risk. Much different than what they were telling the other owners.

07-02-2012 , 06:53 PM

#335

NoahSD

Is Right

Join Date: Aug 2005 Posts: 18,843

Quote:

Originally Posted by IamPro

meh, nothing on repayment just political bs

Apparently your definition of "political bs" is "stating exactly what happened and not discussing what might happen in the future because they don't know yet."

07-02-2012 , 06:54 PM

#336

Mondogarage

Pooh-Bah

Join Date: Dec 2006 Posts: 4,801

Quote:

Originally Posted by lilwhaldo

Ya well if they didn't make the law and instead regulated it this mess never would have happened.

So put it back in your pants please.

DOJ didn't make the law.

You want it to be one way, but it's the other way.

07-02-2012 , 06:54 PM

#337

pianospike

adept

Join Date: Feb 2008 Posts: 1,081

Quote:

Originally Posted by Kirbynator

so... is there anything that sounds bad for players funds or are we assuming this is great news that he turned himself in and we might expect something from stars in less than a week?

Not sure it's really a positive or negative regarding repayment. It seems like this particular news is just about Bitar. He characterized it as a "step in the process" as far as repayment of players in that email, but clever PR does not necessarily equal truth.

Given Bitar's past actions, I do not believe he is now sacrificing himself in the interest of players being repaid.

07-02-2012 , 06:55 PM

#338

NeedsToBeSaid

adept

Join Date: Sep 2011 Posts: 997

Quote:

Originally Posted by luciano27

Yeah he is/was CFO, you are probably right.

Anyway, here is the Linkedin profile since he asked.

http://ie.linkedin.com/pub/john-holland-fcma/16/117/211

hmm interesting. They probably both knew in any case.

07-02-2012 , 06:56 PM

#339

nbajam

adept

Join Date: May 2004 Posts: 940

Quote:

Originally Posted by sluggger5x

All I am reading in the SDNY press release is that Bitar was picked up at JFK airport and arrested. Do we know for sure whether he turned himself in or was he caught by the FBI?

Unless he's a complete moron, he wouldn't be on a plane heading for the US if he didn't have the intention of turning himself in.

The email to FTP employees seems to confirm that this is all orchestrated to reach a settlement.

Quote:

Originally Posted by pianospike

Not that I'm some kind of Ray Bitar fan-boi, but he's at least cooperating with the DOJ and he voluntarily got on the plane. He could have easily pulled a disappearing act like the UB guys and said F it.

07-02-2012 , 06:56 PM

#340

Kirbynator

Carpal \'Tunnel

Join Date: Aug 2006 Posts: 52,004

Quote:

Originally Posted by pianospike

but why would he ever turn himself in unless he saw some kind of possible deal if players get repaid?

07-02-2012 , 06:57 PM

#341

SuperSwag

Pooh-Bah

Join Date: May 2012 Posts: 5,775

Was Bitar always in charge?

It seems like almost all of the bad stuff/greed started occuring around 2008. At least that is what the report says.

07-02-2012 , 06:58 PM

#342

Videopro

Making TV

Join Date: Oct 2002 Posts: 19,267

07-02-2012 , 06:59 PM

#343

madison79

grinder

Join Date: Mar 2009 Posts: 583

Quote:

Originally Posted by Kirbynator

but why would he ever turn himself in unless he saw some kind of possible deal if players get repaid?

Best little bit of information was that Pokerstars is covering employee cost for the month of July and next owner should cover the cost after that.
I give 2 ****s about Ray. We can get our money by selling all his stuff and then Howard's and down the line till we are all repaid.

07-02-2012 , 07:00 PM

#344

BigPoppa

Carpal \'Tunnel

Join Date: Sep 2005 Posts: 22,216

Quote:

Originally Posted by Kirbynator

but why would he ever turn himself in unless he saw some kind of possible deal if players get repaid?

Bitar couldn't give two ****s about whether we get repaid, but he wouldn't have turned himself in without a deal worked out concerning the criminal charges against him personally.

07-02-2012 , 07:00 PM

#345

Zomboid!

grinder

Join Date: Jun 2011 Posts: 672

Quote:

Originally Posted by SuperSwag

Was Bitar always in charge?

It seems like almost all of the bad stuff/greed started occuring around 2008. At least that is what the report says.

Bitar founded the company (along with Ferguson and Lederer). So... yes.

07-02-2012 , 07:03 PM

#346

Tbirdx24

old hand

Join Date: May 2009 Posts: 1,630

Quote:

Originally Posted by BigPoppa

Bitar couldn't give two ****s about whether we get repaid, but he wouldn't have turned himself in without a deal worked out concerning the criminal charges against him personally.

Exactly. Turning himself in is +EV for himself, and it just so happens that its very likely +EV for players. But I think thats pure coincidence.

07-02-2012 , 07:04 PM

#347

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,508

Anyone know anything about Debra Freeman, the judge Bitar was in front of today?

07-02-2012 , 07:05 PM

#348

Feel

journeyman

Join Date: May 2012 Posts: 245

Quote:

Originally Posted by Professionalpoker

just wow!

07-02-2012 , 07:06 PM

#349

tercet

Carpal \'Tunnel

Join Date: Mar 2006 Posts: 8,001

+Ev for bitar is 10 years rather then 145 or can he actually get away free?

Considering Ftp is broke and cant pay off fines like party owner did 5 years ago, and like stars owner isai will do right?

07-02-2012 , 07:06 PM

#350

pianospike

adept

Join Date: Feb 2008 Posts: 1,081

Quote:

Originally Posted by Kirbynator

but why would he ever turn himself in unless he saw some kind of possible deal if players get repaid?

I would guess his primary motive would be cooperation to reduce his potential prison time. Maybe I'll be proven wrong, but here we have a guy that alllegedly received $3 million in salary after April 15, 2011 and continually lied to us over the years about the safety of our funds. Kind of hard to believe that he really cares about us being repaid now.

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