The Surrender of Ray Bitar
Deal includes $40 million forfeiture but no prison time due to severe heart disease.
$2.5m bail agreement reached • Bitar to return to California in the next 48 hours.
The new indictment unsealed this week reveals the depth of fraudulent activity to deceive its players and regulator—right until the end.
In separate statements, Bitar alludes to the next chapter in the Full Tilt Poker saga.
Government documents allege the use of customers deposits to pay a backlog of withdrawal requests amount to a Ponzi Scheme.
Bitar awarded bail but unable to raise the required amount he remains in custody.
Multiple sources have confirmed that Ray Bitar—“the principal decision-maker for Full Tilt Poker”—has surrendered…
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