- The US government demanded the financial records of 9 companies Bitar had a stake in, including the parent company of Hold’em Manager.
- The companies in which Bitar held an equity interest may be required to provide the government with a series of documentation related to those businesses.
- Bitar was also ordered to forfeit $40m in cash and additional assets including his home in Glendora, California.
The US government detailed a list of assets sought from Full Tilt Poker founder Ray Bitar in a forfeiture order filed this week.
The Department of Justice also demanded the financial records of 9 companies Bitar had a stake in, including the parent company of Hold’em Manager and an investment firm he owned with Chris “Jesus” Ferguson.
According to the order filed Tuesday, any companies which Bitar owned, or in which he held an equity interest, may be required to provide the government with a series of documentation, including five years of investment history, annual reports and financial statements, shareholder or partnership agreements, and charts of affiliate businesses.
They may also be required to show charts identifying key management personnel and property locations and listings of all patents, copyrights and trademarks.
Bitar pleaded guilty on April 15—two years to the date after Black Friday—to charges of fraud and violating the Unlawful Internet Gambling Enforcement Act (UIGEA), and was ordered to forfeit $40m in cash and additional assets.
He must surrender all the money in 18 bank accounts from around the world and property that includes his $3m mansion in Glendora, California, along with other homes and a timeshare in a Bermuda golf resort worth upwards of $400,000.
Bitar also was ordered to give up ownership and equity interest in “any and all” Full Tilt Poker-related companies.
Among other investments, Bitar also held ownership in a Southern California real estate developer, a garden care business, a residential custom landscape company and a brewpub.
He and Ferguson also purchased a Hollywood film production company, along with Food Inc. producer Robin Schorr. That company, RCR Pictures LLC, is slated to release a film called “The Pretty One,” starring Ron Livingston, later this year, according to Dave Behr at Flushdraw.net.
