The Online Poker Scam That Made $444 Million
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#Documentary #OnlinePoker #PokerScandal In April 2011, the FBI seized the domain of Full Tilt Poker. Millions of players were locked out of their accounts overnight. The company owed players over $390 million, but had less than $60 million in the bank. Between 2007 and 2011, twenty-three shareholders received $443,860,529.89 in distributions while player balances went unfunded. The Department of Justice later called Full Tilt a “global Ponzi scheme.” This is the full story of the $444 million Full Tilt Poker scandal, from the rise of online poker, to Black Friday, to the settlements, the forfeitures, and the fallout that changed the industry forever. How did it happen? Where did the money go? And why did almost nobody go to prison?
Tags: high stakes poker, Full Tilt Poker, Full Tilt scandal, $444 million poker, Black Friday poker, online poker collapse, poker Ponzi scheme, Ray Bitar, Howard Lederer, Chris Ferguson, Phil Ivey, PokerStars settlement, online gambling scandal, poker history documentary, FBI poker seizure, UIGEA poker, poker fraud case, high stakes poker history, poker documentary, online poker crime
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