Full Tilt Debacle Just Keeps Giving

Guernsey millions divvied up with the United States

According to BBC reports Friday a total of GBP 9.5 million recovered from internet poker fraudster Raymond Bitar, former chief of online poker company Full Tilt Poker, has been shared with US authorities by the island government of Guernsey.

In 2013 Bitar pleaded guilty to prejudicing Full Tilt customers to the tune of $350 million, but handed over just $40 million in forfeited assets to the authorities.

However, money totalling $14.3 million stashed in Guernsey has now been split between the island government and the US Treasury in terms of an agreement inked with the US government two years ago.

It is believed that the island of Jersey has a similar agreement with the United States, motivated by the need for international transparency to counter money laundering.

The BBC report reveals that Guernsey authorities restrained bank accounts and provided financial records between 2012 and 2015 to help US investigators seize Bitar’s assets.

This occurred after he admitted that he did not keep player funds separate from operational funds, thus prejudicing Full Tilt players when the company failed following a 2011 federal government action in the United States.

John Cronan from the US Department of Justice’s Criminal Division said he valued the work of his Guernsey counterparts in this case, whilst Guernsey Attorney General Megan Pullum QC said it was an excellent example of cross-country working.

“Guernsey has an ongoing and exemplary commitment to international co-operation and mutual legal assistance and we are therefore extremely pleased to announce this asset share,” she said.

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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