Full Tilt Poker Scandal
On September 20, 2011, the U.S. Department of Justice filed a motion to amend a civil complaint, alleging that Lederer, Chris Ferguson and two other directors of the poker website Full Tilt Poker were running a Ponzi scheme that paid out $444 million of customer money to themselves and the firm's owners. The government is seeking a return of $42 million that Lederer allegedly took from Full Tilt's customers. The Department of Justice on September 19, 2011, issued a warrant in rem for the seizure of certain banks' accounts owned by Lederer as part of the DOJ's continued actions against Full Tilt. In a September 8, 2012 interview with poker journalist Matthew Parvis, Lederer "takes great offense" to the government's Ponzi scheme characterization.
Read more about this topic: Howard Lederer
Famous quotes containing the words full, poker and/or scandal:
“So Nature deals with us, and takes away
Our playthings one by one, and by the hand
Leads us to rest so gently, that we go
Scarce knowing if we wish to go or stay,
Being too full of sleep to understand
How far the unknown transcends the what we
know.”
—Henry Wadsworth Longfellow (1809–1882)
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—David Mamet (b. 1947)
“There is no scandal like rags, nor any crime so shameful as poverty.”
—George Farquhar (1678–1707)