Financial Times: Full Tilt Poker Pros Under Investigation
The Financial Times of London is reporting that a grand jury in Manhattan is investigating the world's second largest online poker room and "could bring indictments against some of the world's best known professional players".
Among the pros involved with Full Tilt Poker: Chris Furguson, Howard Lederer and Phil Ivey.
According to the subpoena the investigation is examining whether gambling and money-laundering laws have been broken.
A source tells Gambling911.com: "This has been ongoing and I don't think any of these players quite understand the possible outcome."
Another online poker room is said to be cooperating in the case and providing authorities with information related to Full Tilt Poker.
From the Financial Times:
FBI agents or prosecutors have spoken to at least two people involved in disputes with Full Tilt, paying special attention to the possibility of money-laundering violations, those familiar with the inquiry say.
The Manhattan US attorney declined to comment, as did justice department officials in Washington. Eric Jackson, a Los Angeles civil attorney representing Mr Lederer, Mr Ferguson and a software company with ties to Full Tilt, said his clients had not been informed of the grand jury inquiry.
Jackson claims he is unaware of any grand jury investigation into Full Tilt Poker or any of its pro players.
Both Mr Lederer and Mr Ferguson filed a motion to dismiss the civil case but have not addressed the substance of the allegations at this stage, according to the Financial Times report.
Most of the Full Tilt Poker professional players reside in the United States.
Last summer the US Attorney's Office out of the Southern District of New York seized nearly $50 million in funds from both Full Tilt Poker and the world's largest online card room, PokerStars. Costigan Media, the parent company of Gambling911.com, filed a Motion to Intervene in order to uncover further information pertaining to the investigation. A Circuit Court Judge awarded Costigan Media and Gambling911.com the right to be provided with said information. And while much of the names remained redacted, court documents suggested that payment processing companies were part of a grander investigation that included Full Tilt.
Christopher Costigan, Gambling911.com Publisher
