Full Tilt Poker rejects Ponzi allegations: lawyer

Reuters News
Posted: Sep 21, 2011 4:04 PM
Full Tilt Poker rejects Ponzi allegations: lawyer

NEW YORK (Reuters) - A lawyer for Full Tilt Poker rejected on Wednesday allegations made by federal prosecutors that the company and its board of directors operated the company as a global Ponzi scheme.

"I disagree strongly with the allegation that FTP operated as a global Ponzi scheme," said Jeff Ifrah, an attorney based in Washington. "FTP may have made mistakes, but I have seen no evidence to support the DOJ's characterization of it as a global Ponzi scheme."

U.S. prosecutors announced new allegations on Tuesday in its probe of the Full Tilt Poker website, accusing the company of paying its directors more than $440 million while defrauding its players.

Full Tilt was first charged in April along with two other Internet poker companies.

The case is USA v Pokerstars, et al, U.S. District Court for the Southern District of New York, No. 11-02654.

(Reporting by Andrew Longstreth; editing by Andre Grenon)