Full Tilt Poker Faces Possible Grand Jury Investigation

07.04.2010, Full Tilt Poker is thee second largest poker room in the world second only to PokerStars. Full Tilt Poker, is known for hosting the highest stakes games in online poker, and was site to the 100 biggest online pots of 2009, including the ten largest pots in online poker history.

Team Full Tilt Professional Patrik Antonius beat the anonymous Swedish player Isildur 1 for a $1,356,947 pot in a hand of Pot Limit Omaha: the largest online poker pot in history. The Financial Times recently reported that Full Tilt Poker is being investigated by a Federal grand jury in Manhattan N.Y. USA to determine whether the poker site is violating US gambling and money-laundering laws. Most of the report was pure speculation as no real or direct information has been released regarding the suggested investigation.

Chris Ferguson and Howard Lederer controllers of the firm could face criminal charges should any wrong doing be found by the Grand jury. Los Angeles civil attorney Eric Jackson, who represents Lederer and Ferguson, was not prepared to say anything and said he was not informed about any such probe. In the USA 2.5 million people put as much as $30 billion on the line each year.

with online poker operations such as PokerStars and Full Tilt Poker taking around $1 billion, of the USA poker industry’s revenue all which is considered illegal as the law permits currently. Relying on the vagueness of the Wire Act of 1961 and the Illegal Gambling Business Act poker is enjoying a thriving business. Officials a cautious about proceeding with these cases because of the ambiguous position that poker holds, with lawmakers not sure whether poker is a game of skill or a game of chance. Companies like Full Tilt Poker and PokerStars have been able to thrive in the US market without too much trouble. Most insiders see this as an example of intimidation by the Department of Justice in the US to make online gambling companies aware of the possible trouble they would be in should a solid case be made against them in the USA.

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