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Justice Department: Full Tilt Poker Was Ponzi Scheme

September 20, 2011Domaining, Domainnamewire, full tilt poker, Policy & LawComments Off on Justice Department: Full Tilt Poker Was Ponzi Scheme

U.S. government says Full Tilt Poker paid out money to investors that belonged to players.

Earlier this year the U.S. government confiscated Full Tilt Poker’s domain name The government later gave the domain name back, but now there’s more bad new for the company — or should I say its players?

Now the U.S. government has basically called it a giant ponzi scheme. The company allegedly didn’t hold onto all of its players’ cash balances and instead distributed much of it, including as profits to the owners.

It sure seems that the best way to control the online gambling industry is to legalize it in the U.S. and then regulate it.

© 2011.

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