Regulators Yank Full Tilt Poker's Gambling License

Law360, New York (September 29, 2011, 10:12 PM EDT) -- Gambling regulators on Thursday revoked the license of beleaguered online poker site Full Tilt Poker, just days after federal prosecutors in New York accused Full Tilt's owners of running the site as a Ponzi scheme and skimming $440 million in user funds.

The Alderney Gambling Control Commission, based in the British Channel Islands, said that Full Tilt's owners misled regulators about the company's financial health. The AGCC said misleading information included Full Tilt reporting $331 million that had been seized by U.S. authorities between 2007 and...
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