Grand Jury Investigates Full Tilt Poker
Full Tilt Poker, the second largest online poker website, is reportedly under investigation by a grand jury for money laundering. According to the “Financial Times” newspaper, a federal grand jury in Manhattan had taken the case. Part of the article read as follows:
“A federal grand jury in Manhattan is investigating one of the largest internet poker sites serving U.S. gamblers and could bring indictments against some of the world’s best known professional players, according to people familiar with the case and a subpoena issued to a witness this week.”
Two players who have an ownership stake in the company, who were named in a lawsuit a couple of years back are Howard Lederer and Chris Ferguson, who are also poker players. Other members of Team Full Tilt 2009 include the 2009 World Series of Poker Main Event November Nine winner Phil Ivey, 2008 World Series of Poker Europe Main Event winner John Juanda, Jennifer Harman, and Phil Gordon. The “Financial Times” goes on to explain the money laundering charges:
“Money laundering charges might be attractive to the government as they would compel cooperation from authorities even in countries where gambling is legal.”
The attorney representing Lederer and Ferguson in a separate civil suit, Eric Jackson, had the following to say:
“We are not going to comment about a speculative grand jury investigation that we are not aware of.”
Gambling and law expert I. Nelson Rose also reacted to the report:
“[The Federal Government is] waging this war of intimidation. There are not a lot of good statutes, so they go after high-profile targets and try to intimidate everybody.”
Full Tilt Poker trails only PokerStars in total amount of traffic, as both sites welcome players from the United States, which is not common among some of the most popular poker sites around the world. Full Tilt Poker averages, over a seven day period, 16,400 real money ring players. This investigation, or word of investigation, is the latest in a string of investigations in what is being viewed as a crackdown on the industry in the United States.
Full Tilt Poker has not been shy when it comes to being investigated either. Below is a list of recent investigations or lawsuits filed against the popular site:
-Poker pro Clonie Glowen filed a lawsuit claiming one percent ownership stake in the site in February but it was dismissed
-Investigation by FBI, which was recently dismissed, about copyright infringement for the failed show ‘Face the Ace’
-A bot lawsuit was filed in December citing the RICO Act
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