It’s about time that Raymond Bitar, former owner of Full Tilt Poker, turned himself in. The CEO has spent the past year hiding out in Ireland, after his website was accused of violating a number of American gaming laws, including running an illegal gambling operation and defrauding its players.
During the Black Friday indictments of April 2011, Full Tilt Poker was shut down by the American government – along with Poker Stars and Absolute Poker. The two latter websites were able to continue operating outside of the country, after repaying American players. Full Tilt Poker, however, has remained down, as the site’s profits were caught up in an alleged Ponzi scheme, in which player’’ deposits were pocketed by the site’s owners.
Bitar has recently returned to the United States and surrendered. However, he has pleaded not guilty to the crimes he has been accused of. The prosecution initially requested that he be denied bail, so that Bitar would not be able to leave the country again. However, it was denied by the Supreme Court. Bitar’s bail has been set at a staggered $2.5 million, though. He will remain in jail until the bail can be paid or until his sentencing, which will take place on July 23.