BULLETIN: Full Tilt Poker’s License Revoked By Alderney Gambling Control Commission In Wake Of U.S. Ponzi Allegations

By 11:22 pm Sep 29, 2011

BULLETIN: Just days after federal prosecutors in the United States alleged that Full Tilt Poker was operating a global Ponzi scheme, the Alderney Gambling Control Commission (AGCC) has revoked Full Tilt’s License.

AGCC is the e-gaming regulator of the British Channel Islands.

“At a hearing held in London over six days, it emerged that FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by US authorities, or that were otherwise not actually available to the operator,” AGCC said. “Serious breaches of AGCC regulations include false reporting, unauthorised provision of credit, and failure to report material events.”

AGCC said its revocation order was not tied to the Ponzi allegations announced Sept. 20 in New York. Full Tilt has been under fire in the United States since April. AGCC suspended its license in June, and now has followed up with a revocation.

 

Categories: Alleged Ponzi Schemes, The Economy, Uncategorized
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2 Responses to “BULLETIN: Full Tilt Poker’s License Revoked By Alderney Gambling Control Commission In Wake Of U.S. Ponzi Allegations”

  1. Tony H
    Sep 30, 2011 at 1:10 pm |

    Also on El Reg
    http://www.theregister.co.uk/2011/09/30/alderney_pulls_gambling_licence/

    They alleged that $443 million was withdrawn from players’ accounts and divvied out to board members and owners. The claims were an addition to an existing civil complaint that charged FTP, along with two other online poker sites, of violating the Unlawful Internet Gambling Enforcement Act of 2006, which stops illicit gambling outfits from accepting payments.

  2. admin
    Sep 30, 2011 at 1:11 pm |

    Thanks, Tony.

    Patrick

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