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geekhack Community => Off Topic => Topic started by: Polaris on Sat, 24 September 2011, 21:36:17

Title: Full Tilt Poker Accused Of Ponzi Scheme
Post by: Polaris on Sat, 24 September 2011, 21:36:17

wish i had been on stars, but the rakeback on ftp was so much easier :(

Title: Full Tilt Poker Accused Of Ponzi Scheme
Post by: Minskleip on Tue, 27 September 2011, 16:26:24

This is not Lisp!

Title: Full Tilt Poker Accused Of Ponzi Scheme
Post by: Input Nirvana on Tue, 27 September 2011, 16:47:04

The original idea at Full Tilt was to build a poker site, pay off the start up expenses and sell it off at a profit. Once it was live, it was very lucrative, then the U.S. made it illegal, so they chose to stick it out and be one of the few sites to continue to accept U.S. players money, which was phenomenal growth for them. They have been betting on the short end since day 1, which is why they moved their operations from Los Angeles to Dublin, and maintain homes out of the country. Last I was involved, there were over 80 shell companies slushing everything around. It was designed so that multiple countries would have to work together to see the whole picture. Which may be very unlikely.

Title: Full Tilt Poker Accused Of Ponzi Scheme
Post by: Input Nirvana on Tue, 27 September 2011, 17:00:27

They should contact Howard (Lederer), one of the first things he did when he came on board and got his first windfall check was to have his stomach stapled to reduce his weight, but continues to deny having the surgery. lol