Full Tilt Poker – We fought the law and the law won

Full Tilt Poker have been exposed as not the poker Messiah but a very naughty group of boys. But please give them some credit (which they did for a lot of you) as they were trying to beat the system and found out, as the song goes, I fought the law and the law won.

The whole reason Full Tilt finally ended up in trouble started due to the original actions by the American Govt. The American Govt passed the UIEGA bill in 2006 in ‘dodgy’ circumstances by tagging it onto a bill that was not about Poker. The Safe Port Act was about Port Security and although Ship It! has become a poker term that is about as close as they get.

The Full Tilt fiasco may have been finished off by the greed and stupidity of Howard Lederer, Chris Ferguson and Ray Bitar but at least they did try to beat the system. Even if at the end of the day it was to protect themselves and keep their own personal gravy train going.

Perhaps in years to come it will be seen that their actions were the catalyst that finally helped to make online poker in America legal. That and $15 Trillion in debt that may have persuaded the American Govt that taxing online poker may be a good thing.

Nothing will condone all their actions and especially the response since Black Friday but they tried, by God they tried to allow Americans not just to carry on playing online poker but to deposit and cash out their money.

The recent legal documents released show what effort they or people on their behalf put in. They also show why it is taking the DOJ so long to sort things out. Firstly the DOJ have to find the players funds …

Oh what a tangled web we weave, When first we practise to deceive!

To get round the issue of some American Financial Institutes not allowing Americans to deposit online Full Tilt got involved in the whole sordid affair of creating a mini industry and new companies to process payments. Which eventually brought about their down fall when one of the main men got arrested and spilled the beans on the whole operation. The fact that allegedly he has stolen funds from Full Tilt and they brazenly tried to sue him may have helped him decide that a new life under a new identity is better than a life time in prison.

Not just Full Tilt but many others weaved a tangled web of processing companies, payment systems and even got Banks involved or bought parts of Banks. People risked their careers, reputations and prison time all in the name of greed. They also risked those who worked for them. My favourite Bank name involved has to be “Fifth Third Bank”.

The list below, from the legal docs released, show the top level of deceit and does not even start to show the whole payment processing side.

The Full Tilt Poker story is not over yet and who knows what else will be revealed and exposed in the coming months and years. Some dirty little secrets will remain, taken to the grave.

List of Full Tilt Poker bank account with player funds in them

Chris Ferguson has stated in the docs that …

Those accounts contain funds deposited by Full Tilt Poker players to be transferred to Vantage and/or Kolyma or funds deposited by Vantage and/or Kolyma that were in the process of being returned to Full Tilt Poker players.

chris ferguson full tilt poker payment companies

The Full Tilt Operators have right, title, or interest in the following accounts:

$25,297,322 held at Sunfirst Bank Utah formerly in the name of Sunfirst Bank ITF Powder Monkeys/Full Tilt

$14,740,855 held in 9 different accounts at New City Bank in the name of 21Debit LLC dba FLT Payments

$9,655,075 Vensure Federal Credit Union, Arizona and Banca Privasa S’Andorra and Sparkasse Bank Malta PLC Malta in the name of Trinity Global Commerce Corp.

$9,632,834 (formerly on deposit at First Republic Bank, Services 1st Bank of Nevada, Wells Fargo Bank, Citibank, Nevada Commerce Bank, and City National Bank in the name of G.I Holdings.

$4,916,977 formerly on deposit at Huntington National Bank, Bank of West, Bank of America, Citibank in the name of SNR Inc

$23,696,003 formerly on deposit at Bank of America, Fifth Third Bank, National Bank of California in the name of Viable Marketing Corp and Viable Processing Solutions

$10,337,474 formerly on deposit at Four Oaks Bank and Trust Company, North Carolina in the name of LST Financial

Other ‘Full Tilt’ accounts include UMPQUA Bank Roseburg Oregon in the name of ULTRA SAFE PAY, at Hong Kong and Shanghai Banking Corporation in the name of Griting Investments LTD, Banque Invik SA Luxembourg and Basler Kantonal Bank Switzerland in the name of Vantage Limited. While accounts at Wirecards Bank AG, Germany are in the name of Kolyma Corporation.

Pocket Kings (no amounts given) have right, title, or interest in the following accounts at Bank of Scotland Ireland Inc, National Bank of Ireland, Irish Permanent Treasury PLC, National Irish Bank, Allied Irish Bank, Banque Invik, Luxembourg, Danske Bank A/S Denmark.

About PenFold

Zak ‘PenFold’ Vella – Our expert of all things Maltese and Italian. One of the main people responsible for opening up the Italian market and bringing the joys of Enetpoker Network to the rest of the world. For which one day Zak will be knighted. Also known in the Content writing business as ‘Mr Google Translate’ as he can speak and write in more languages than it can.

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