Full Tilt Poker Founder Pleads Guilty in Gambling Probe
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Full Tilt Poker founder Raymond Bitar, accused of using online player funds to finance his company in what prosecutors called a Ponzi scheme, pleaded guilty in the U.S. government probe of Internet gambling.
Bitar was one of 11 people charged by the government in April 2011 in connection with the online gambling sites Full Tilt Poker, PokerStars and Absolute Poker. He was sentenced today to time served and ordered to forfeit $40 million.