Online Poker CEO Arrested for Ponzi Scheme

PONZI SCHEME

Updated Apr. 21, 2017 4:28PM EDT / Published Jul. 03, 2012 6:48AM EDT

Mychele Daniau, AFP / Getty Images

Raymond Bitar was at John F. Kennedy International Airport Monday when he was arrested by federal law-enforcement officials for his involvement in a $430 million Ponzi scheme. Bitar is the CEO of Full Tilt Poker, an online gambling site, which was accused last year of defrauding customers with insecure funds. As of last June, the company had only $6 million to pay back the total $300 million it owed players from around the world. “Bitar and Full Tilt Poker persisted in soliciting U.S. gamblers long after such conduct was outlawed,” said the FBI’s assistant director in charge. Bitar is the seventh of 11 defendents indicted in April of 2011 to be arrested. One has already been sentenced to three years in prison.

Read it at CNN Money

Kate Fan Hijacks U.K. Domain for Meghan Markle’s Brand

Those clicking on the link “americanrivieraorchard.uk” found themselves directed to another website with a message of support for the Princess of Wales.

Bill Maher: Woody Allen Not a Pervert for ‘Baby Doll’ Kink

The comedian insisted the disgraced director is innocent and those refusing to work with him are “a bunch of pussies.”

Kanye West Accused of Punching Man in the Face: TMZ

The rapper allegedly punched a man who, according to Ye’s rep, had “sexually assaulted” his wife, Bianca Censori.

Here’s How Stormy Daniels Was Served With Trump Case Papers

Trump’s legal team is in a battle for information regarding the porn actor—and say they’ve got a photo to prove their case.

Quentin Tarantino Is Scrapping ‘The Movie Critic’: Report

The director “simply changed his mind” on the project, which was set to shoot this year with Brad Pitt in the leading role, according to Deadline.

New Tell-All Book About Beckhams Promises Secrets and Sex

“The Beckhams made sure that quite a lot of people wouldn’t talk to me. But I did find enough people to talk to and got a lot of very interesting revelations,” Tom Bower said.

Scorsese Eyes Sinatra Biopic With DiCaprio and J. Law

The aging director wants to make a movie about Frank Sinatra’s life, but he’ll have to go through Sinatra’s daughter Tina, who controls his estate.

‘SVU’ Star Mistaken for Real Cop by Lost Girl While Filming

The little girl was apparently oblivious to the film crew, as well as Mariska Hargitay’s scene partner, Ice-T.

Online Poker CEO Arrested for Ponzi Scheme

Mychele Daniau, AFP / Getty Images