Archive for September, 2011

Lederer and Ferguson To Have Assets Seized

Saturday, September 24th, 2011

Things 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,…

Canadians Launch Full Tilt Law Suit

Saturday, September 10th, 2011

Before things get better for Full Tilt Poker, it looks like they’re going to get a whole lot worse. On top of having their funds seized by the DoJ and their gambling license rescinded by the Alderney Gambling Control Commission (AGCC), a series of lawsuits from disgruntled players have begun to pile up. The latest suit has emerged from Canada, where Consumer Law Group Inc. lawyer Jeff Arenstein claims that players are owed between $5 – $10 million.

Ever since online casino gambling regulators, the AGCC, forced Full Tilt to close their doors, nobody has been able to access their accounts. This includes thousands of Canadians, who are estimated to make up about 10% of Full Tilt’s player base. In an attempt to win back money that belongs to those players, lead plaintiff Mitchel Schnurbach has taken to the courts.

Anecdotal reports claim that there are Canadian account holders with at least $250,000 trapped online, although the average amount is much lower. Schnurbach himself has no more than $5 left in his Full Tilt account, but is hoping to win his case on behalf his fellow Canadian players.

The law suit was launched in Montreal, at the Quebec Superior…

Jose Macedo to Face Legal Action

Wednesday, September 7th, 2011

If you pay close attention to the big download free poker sites, you might have heard of Jose Macedo and the trouble he has had with his poker playing peers. His reputation, along with those of his backers (Haseeb “DogIsHead” Qureshi and Daniel “Jungleman” Cates), has been ruined for good.

Macedo has promised to pay back the $30k he scammed from the players that fell into his scheme. But recently Lock Poker, a room that gives a variety of poker bonuses, decided it was going to sue Macedo.

Before the scandal unfolded, Macedo had gained a spot on Lock Poker’s Elite Pro team. This position was taken away after the accusations and admission of guilt that followed, however. Most observers assumed this would be the relative end of the story as Macedo would most likely disappear after paying back his victims.

A poker forum thread revealed that Lock Poker was intending to sue Macedo, however. This was announced by cardroom manager Erik Lynch. Lynch gave no details and only stated that information would be released in the near future.

We can only speculate the basis of this legal action. Some people think that he…