Full Tilt Poker was a Ponzi scheme [Archive] - MensTennisForums.com

Full Tilt Poker was a Ponzi scheme

out_here_grindin
09-21-2011, 07:27 PM
The popular poker site has been labeled a ponzi scheme by the justice department. (http://msn.foxsports.com/other/story/US-Justice-Department-alleges-Full-Tilt-Poker-was-a-Ponzi-scheme-092011?ocid=ansfox11)

Poker legends Chris "Jesus" Ferguson and Howard "The poker professor" Lederer have been acused of stealing $300,000,000 from online players.

This is a massive scandal and this will rock the poker world. I haven't been as involved in poker as I once was but this is still a massive blow. Two of the most respected names in all of poker

http://www.blindbetpoker.com/img/players/chris-ferguson.jpg
Jesus Ferguson

http://www.bestpokerpros.com/sites/all/pictures/howard-lederer/howard-lederer-full-tilt-pro.jpg
Professor Lederer

Filo V.
09-21-2011, 08:02 PM
No surprises here.

Gagsquet
09-21-2011, 08:20 PM
Shocking.

out_here_grindin
09-21-2011, 08:27 PM
It is surprising because these two guys were always praised. Nobody said anything bad about these two, especially Ferguson. The sleezebags were thought to be Matusow,Hellmuth and others. But these were the "class acts" of poker

Filo V.
09-21-2011, 10:28 PM
I know a little about poker, and know that these two men were well respected. But ultimately, the business they formed smelled like a scam when I first heard about it. And the reality is, poker is about deception more than anything else, so seeing these 2 men using their superior skills of deceiving to trick people into involving themselves in this scam isn't a surprise at all, they had the opportunity and took advantage. Like taking candy from a baby.

allpro
09-21-2011, 10:40 PM
shocker http://img263.imageshack.us/img263/6986/umno.gif

BigJohn
09-21-2011, 10:59 PM
Now take that shit off sport channels.

bokehlicious
09-21-2011, 11:02 PM
Lederer always was an arrogant asshole. And a bad player on top of that.

fast_clay
09-21-2011, 11:55 PM
man :lol: that's a great scam... better invest some of that money in lubricant ladies cos where you going you gonna need it...

buddyholly
09-22-2011, 02:06 AM
They were bluffing. Isn't that what poker players do?

Well played, Naomi Price, as Shatner would say.

Kolya
09-22-2011, 04:35 AM
Shame on the former World champion and L/Federer.

Jelena
09-22-2011, 10:56 AM
Now take that shit off sport channels.
:yeah:

bokehlicious
09-22-2011, 12:12 PM
Pretty funny how Ferguson and Lederer were known to be amongst the nittiest high stakes players, always playing scared money... with such a bankroll they surely could've loosen up a bit :o

Gagsquet
09-22-2011, 02:41 PM
Pretty funny how Ferguson and Lederer were known to be amongst the nittiest high stakes players, always playing scared money... with such a bankroll they surely could've loosen up a bit :o

They can't play loose. They are not Tom Dwan.

bokehlicious
09-22-2011, 03:47 PM
Speaking of Dwan, he said on 2+2 forums that he would give back to players what he owes ftp, which is a little above a million $. And hope other ftp pros will do the same... Unlike Ivey, I trust durrrr for not knowing what was going on there...

out_here_grindin
09-22-2011, 05:47 PM
Yeah there are swirling rumors that Ivey was also somewhat involved in the scheme or at least knew about it. Of course why not trust a guy who goes by a fake name he used to use to get into gambling areas under age.

Kat_YYZ
09-23-2011, 04:32 AM
so I guess I have no chance of retrieving the $25 from my account? :lol:
That's too bad. I miss playing online. Anyone have any suggestions for a good site?

bokehlicious
09-23-2011, 07:03 AM
Anyone have any suggestions for a good site?

When #2 poker site went that way I guess the entire industry might be rotten :o I'd still suggest #1 pokerstars (if you're in Canada and not in the US)...

Kat_YYZ
09-24-2011, 04:28 AM
Yes, I'm in Canada.

Does Pokerstars have freerolls? I never deposited a penny at Full Tilt -- didn't even set up the financial side of my account. I practiced with the 'play money' and then played freerolls for ages, picking up $1-$3 here or there. Then I'd play a dollar tournament or a $2 matrix tourny to try to win more. That's how I got up to $25 (was $29 at it's highest :p ). Was hoping to keep building that way, maybe go to $5 tournaments or something, but now they are kaput :(