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The former CEO of Full Tilt Poker Raymond Bitar has plead guilty to money laundering and bank fraud.
Indicted on April 15, 2011 on what has become known as “Black Friday”, Bitar was facing significant prison time.
Bitar, however, remains hospitalized as he is about to undergo a heart transplant.
Bitar was arrested last July at New York's John F. Kennedy Airport after returning to the U.S. He was originally charged along with 10 others for operating illegal online poker ventures.
U.S. District Judge Loretta Preska originally set April 19 as a potential date for Mr. Bitar to enter a guilty plea.
It was not immediately known what Bitar has plead guilty to. There were unconfirmed reports that Bitar may not serve any prison time but will have to forfeit $40m. He is not expected to live beyond a year.
- Chris Costigan, Gambling911.com Publisher
