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  • Online poker site a Ponzi scheme that soaked players, U.S. alleges

    David Caruso, Associated Press|Sep 21, 2011

    NEW YORK - An Internet poker company that was blocked from operating in the United States in the spring as part of an online gambling crackdown was "not a legitimate poker company, but a global Ponzi scheme," federal prosecutors said Tuesday. The popular Full Tilt Poker website illegally raided player accounts to fund operations and make lavish payments to its owners, Justice Department lawyers said in a revised lawsuit filed in New York. Over four years, the company used $444 million in player money to pay board members, including well-known...