DOJ calls Full Tilt Poker a "Ponzi Scheme" for not keeping 100% reserves

[kylejack]

It is absolutely absurd to me that they are claiming the players are the "victims" of a Ponzi scheme while simultaneously saying for players like Lederer and Ferguson to put money in the system and/or transfer to others is money laundering. They're trying to sell too many incompatible fictions at once.

 

[AGRP]

Even if it is a ponzi scheme, at least the participants are willing.

You'll end up in a cage or murdered if you don't participate in federal ponzi schemes.

& lol @ not keeping 100% when banks are required to keep 10%.

 

[kylejack]

Even if it is a ponzi scheme, at least the participants are willing.

You'll end up in a cage or murdered if you don't participate in federal ponzi schemes.

& lol @ not keeping 100% when banks are required to keep 10%.

A ponzi scheme promises a rate of return that it can't deliver for everyone, so in that sense it is a fraud. FTP was not a fraud and probably could have kept paying cashouts indefinitely.

 

[Bordillo]

US government seizes Full Tilits assets

Full Tilt can't pay all of its liability

US government thinks they proved a point

 

[CasualApathy]

They better give me my 200 dollars back!