Feeds

Final insult for Full Tilt as Channel Islands kill its licence

Poker site in Ponzi scheme probe

Security for virtualized datacentres

The Channel Islands have revoked the gambling licence of Full Tilt Poker, the online gambling firm US prosecutors have accused of being a global Ponzi scheme.

Alderney Gambling Control Commission (AGCC), which initially suspended the licence when the FBI closed the site down in the US, said in a statement today:

It emerged that Full Tilt Poker (FTP) had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds blanches that had been covertly seized or restrained by US authorities, or that were otherwise not actually available to the operator.

The commission added that the site had seriously breached its regulations with false reporting, unauthorised provision of credit, and failure to report material events.

However, AGCC also pointed out that revoking the licences from Vantage Limited, Filco Limited and Oxalic Limited, which had been trading as FTP, "does not, as has been suggested, prevent a reactivation of the business under new ownership and management".

Around ten days ago, federal prosecutors lodged court documents in the US that accused the operators of FTP of running a massive Ponzi scheme that robbed players of around $330 million.

They alleged that $443 million was withdrawn from players' accounts and divvied out to board members and owners. The claims were an addition to an existing civil complaint that charged FTP, along with two other online poker sites, of violating the Unlawful Internet Gambling Enforcement Act of 2006, which stops illicit gambling outfits from accepting payments. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.