Bitar arrives at NY
Bitar is arrested
Full Tilt Poker Will Pay
Sources of the New York District Court confirmed that Bitar is in custody. Bitar stayed inIreland, where the company had its headquarters since he was charged.
The news emerged earlier today in a message on the poker forum Two Plus Two, where he published an email from the same staff Bitar Full Tilt Poker Dublin.
“At this point, says the-email, you have probably heard that I have returned to the United States to face civil and criminal charges that are pending against me in New York. Everyone has worked hard over the past 15 months to preserve the assets of Full Tilt and the potential to provide for the payment of all players, and that remains our top priority. It is more important than ever that we all do everything we can to make this happen and hopefully our objective in accordance with Poker Stars is a reality soon. My return to theU.S.is part of this process. “
The revelation was that the term “Ray Bitar” now became a trend in social networks like Twitter.
“I am especially grateful to all of you here inDublin, for your hard work, patience and understanding during this difficult time. I think this work and dedication should not go unnoticed, and we have arranged for Poker Stars to be able to ensure all July wages. Hopefully that their employment contracts are borne by the purchaser of the assets of the company.” He continued saying in the email.
It is speculated that this is the first step toward selling the assets of Full Tilt and the eventual return of money to players.
However, Bitar was just one of 11 people indicted and the company is still insolvent.
The potential deal with Poker Stars is far from over and the players’ funds are in limbo.
Authorities are expected to issue a press release one day soon, setting the conditions of the detention of Bitar.
Federal prosecutors inManhattanalso filed an indictment against Bitar detailing new allegations regarding the alleged efforts to conceal this crisis of Full Tilt.
Bitar added that prosecutors tried to trick customers of Full Tilt on the grounds that the company could not payU.S.players after the federal government effectively shut down the website.
Full Tilt said at the time in a press release that was limited by “legal and jurisdictional issues,” but Bitar knew the real reason was that the players’ money had been spent by the company and distributed to its owners, as the recent court filing states.
Federal authorities point to the 60 billion that Full Tilt had on hand, as to be 390 million due to players worldwide as ofMarch 31, 2011.
At the same time, Full Tilt payments declined requests for international retirement and were carrying out money laundering, and Bitar continued to encourage players outside theUnited Statesto make further deposits into the security company that their money was safe, said the prosecutors.
Prosecutors say that Full Tilt Bitar knew depended on fresh deposits from players to meet the backlog of applications for the withdrawal of the players, but that he and Nelson Burtnick continued to draw the numbers of the company and together received several million dollars afterApril 15, 2011.
Burtnick, is another employee of Full Tilt who continues to release waiting to be processed, according to a source familiar with the situation.
The indictment also states that, Bitar on June 12, 2011, sent an email to other owners of Full Tilt Poker, reporting that the company should not issue a press release revealing the bad news, since it would result in deep study on the bank accounts of the company at a time when the company can not even have a count of 5 million dollars.