Full Tilt CEO Freed On $2.5M Bail After Ponzi Charges

Law360, New York (July 9, 2012, 7:06 PM EDT) -- A New York federal judge on Monday released Full Tilt Poker CEO Raymond Bitar on $2.5 million bail, one week after he was arrested and charged in a superseding indictment with defrauding poker customers through an Internet Ponzi scheme.

U.S. District Judge Paul A. Engelmayer approved a revised bail package for Bitar, who was arrested July 2 and charged with using new customer money to repay older creditors and fund Full Tilt’s operations. The charges came on top of an April 2011 indictment alleging Bitar and...
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