Contact Us

Is the Full Tilt Poker Site Just a Massive Ponzi Scheme?

Ethan Miller, Getty Images

Full Tilt Poker, one of the Internet’s most popular poker sites, operated “as a massive Ponzi scheme against its own players,” alleges Manhattan’s US attorney. The allegations come as part of a civil money laundering complaint claiming that funds the site raised went to pay members of its board of directors, which includes poker pros Howard Lederer and Christopher “Jesus” Ferguson. The board is reported to have taken $440 million since April 2007. The complaint says that the site did not maintain enough money in its account to repay players because board members took such large sums of money for themselves. Even after it became clear there weren’t enough funds to support the demand of its players, the site continued to allow players to make bets with $130 million of “phantom funds.” In April, the FBI closed PokerStars, Full Tilt, and AbsolutePoker in a crackdown on the online gaming industry. The latest revelations are sure to have damaging longterm effects for players, too.

More From Eagle

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kygl.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on Eagle 106.3 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on Eagle 106.3 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!