Published in Articles

Justice Served: FTP Owners hit with $100m Bill
2012-09-12 05:36 by Olsdog
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dailypkr.com
For almost a year and a half, the poker community has wanted to see former Full Tilt Poker owners and figureheads punished. After all, people like Howard Lederer and Chris Ferguson were the ones who mismanaged FTP so badly that they lost well over $300 million worth of player deposits.
Luckily, it looks like the owners will have to answer for their crimes after the US Department of Justice leveled a major civil suit against Ferguson, Lederer, Ray Bitar and Rafael Furst. You can see what the US DOJ wants from each person below:
Lederer – $42.5 million Ferguson – $42 million Bitar – $40.8 million Furst – $11.7 million
Based on how much money the DOJ is asking for, it's questionable as to whether or not the owners will have the funds to cover these amounts. However, the fines seem justifiable based on what players had to go through in the wake of Black Friday.
Some pro players had their careers destroyed after FTP failed to honor deposits when Black Friday hit and their license was eventually taken by the Alderney Gambling Control Commission.
Long story short, few people probably care if Ray Bitar or Howard Lederer can foot their $40 million-plus bills; the important aspect is that these guys are getting punished big-time.
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