Ray Bitar – Shady Deals and Casino News

raymond-bitar-full-tiltThe casino news of the day relate to former director of Full Tilt Poker, Ray Bitar, who has received notification from the federal court that their assets will be seized as part of the judicial process are opened against him for his responsibility for the crimes that led to the closure of the room at the Black Friday. This event was filled with controversy, as Bitar is one of the most renowned figures of the scene.

Seized Assets

The list of goods includes: 18 bank accounts, properties, stakes in companies and their ownership interests in 24 companies involved in the group Full Tilt Poker. Bitar’s bank accounts were split between Guernsey, Ireland, Malta, Germany and the United States.

Ray will surely miss his mansion of $ 3 million ubicated at Glendora, California. Apart from it, there were several single family homes in Glendora and Tere Haute, Indiana, a warehouse valued at one million dollars. Lastly, we can find the investment Bitar made on an exclusive golf community in Bermuda for five weeks a year, which will cost about $ 400,000.

Shady Deals

The theme of the group’s business interests goes back to a decision about the structure of the company. To facilitate the transfer to PokerStars, several companies of which the sole beneficiary was Ray Bitar were transferred to Tiltware and Pocket Kings, the group figureheads and transfer documents now have to be modified for the U.S. government.

These foreclosures are related to the criminal charges of which Bitar was finally convicted last week. Bitar has taken to judge a medical diagnosis that includes heart disease requiring heart transplant to save his life, which has been what has saved him from being jailed. It’s no casino news that Bitar has been surrounded with controversy since the polemic closure of Full Tilt Poker and as a casino blog, we will keep you updated on the subject!