It seems that Full Tilt Poker’s drama is endless. The number two online poker site in this market is on the news again for all the wrong reasons as their lawsuit comes one after another. Another class action lawsuit has been filed within the courts of California.
Involved in this class action lawsuit include two popular names in the history of Full Tilt Poker namely – Lary Kennedy and Greg Omotoy. Both of these personas have filed suits against many similar entities comprising the operation of Full Tilt Poker. Included in the list of defendants are Ray Bitar and Howard Lederer and Chris Ferguson as well as the members of “Team Full Tilt” – Gus Hansen and Phil Ivey.
According to the complaints filed, these people have helped promote the Full Tilt Poker website and lured players into this online poker game.
At the surface, there is really nothing new about lawsuits filed against Full Tilt Poker. However, in previously filed lawsuits the top figure we notice is between $15 million and $150 million. Now, the lawsuit filed in California courts reaches up to $900 million claim because FTP allegedly misappropriated funds that come from player accounts and gave it to the defendants. This is still according to the complaint filed against FTP.
Taking this into consideration, there is another accusation that FTP has deducted a rake illegally even though it is still uncertain how this would work in favor of their complaint. FTP also allegedly did not create financial reserves for the money held in behalf of the players and members of their online poker site instead they distributed the same amount for expenses on operation and marketing as well as other fees and losses coming from money laundering problem and massive distributions to the defendants stated.
These accusations have been present in many other lawsuits filed against FTP. In fact, they are currently stacking up the roster in North America. The biggest of these filed lawsuits has been the “Black Friday” where the DA of Southern District of New York released the original civil action that took the primary players from the online poker scene in America including – PokerStars, CEREUS Network’s Absolute Poker and UB and the Full Tilt out of the U.S. Internet Scene. Three other lawsuits have been filed since then.
What’s to become of Full Tilt Poker today? Nobody really knew. As long as lawsuits after lawsuits are being filed against them, this drama will still continue to be an endless cycle where there is no escape but to face it head-on. But, will FTP survive?
