Reglikedomain industry desk

Full Tilt Poker Was Ponzi Scheme: Justice Department

U.S. government states Full Tilt Poker paid out money to investors that belonged to players.

Earlier this year the U.S. government confiscated Full Tilt Poker’s domain name FullTiltPoker.com. The government later gave the domain name back, but now there’s more bad fresh for the firm — or ought to I say its players?

Now the U.S. government has basically called it a giant ponzi scheme. The firm allegedly didn’t hold onto all of its players’ cash balances and instead distributed much of it, counting as profits to the owners.

It sure seems that the best way to control the online gambling industry is to legalize it in the U.S. and then regulate it.

Also on the wire

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