Lederer and Ferguson To Have Assets Seized
Saturday, September 24th, 2011Things are about to get a whole lot worse for the big names at the top of Full Tilt Poker. Earlier this week, the U.S. Department of Justice’s indictment was amended to include Howard Lederer, Chris Ferguson, and Rafe Furst. Many had wondered when or if the two most high profile founders of Full Tilt would find themselves culpable. With the added accusations that Full Tilt operated like a Ponzi scheme, it seems their deal or no deal online time has come.
All three – along with Full Tilt CEO, Ray Bitar – have had a warrant in rem issued by the DoJ for the seizure of their personal bank accounts. ‘In rem’ means warrants issued against property, rather than for arrest. At this point, it’s looking unlikely that even reparations on the scale paid by the Party Poker Download will see Full Tilt operating in the U.S. again any time soon.
The DoJ are trying to recover some of the $444 million reportedly paid to the owners of Tiltware LLC during the period between April 2007 and April 1 2011. Among that amount, the U.S. government claims to have unearthed exactly how much was paid to Lederer,…

