Full Tilt accused of Ponzi scheme

Prosecutors yesterday accused the Full Tilt Poker website of running a Ponzi scheme that defrauded gamers out of $440m (£289m). “Full Tilt Poker did not maintain funds sufficient to repay all players, and in addition, the company used player funds to pay board members and other owners more than $440m since April 2007,” the office of Manhattan US Attorney Preet Bharara said in a statement. Howard Lederer and professional poker champion Christopher Ferguson, as well as other directors, are caught up in the case.

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