Grand Jury Investigates Full Tilt Poker

by Lou on April 14, 2010

Full Tilt Poker, which is doing well form a business perspective, is having legal difficulties and is under investigation by a federal grand jury—with big-name poker players and founders Howard Lederer and Chris “Jesus” Ferguson (pictured right) both named as high-profile targets.

According to the Financial Times of London, “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.”

While a charge of money laundering sounds like something involving organized crime or terrorists, the use of this kind of charge by the FBI allows them to gain cooperation from governments in nations where online sites are based. In the case of Full Tilt, the charges of money laundering may be nothing more sinister than processing online poker transactions, such as funding or withdrawing funds from an account.

Since the law is less than crystal clear when it comes to online poker, this simply may be the usual kind of fear tactic used by the FBI to strong arm their perspective that online wagering is a criminal activity.

So far no indictments have been issued, though it may be time for Ferguson and Lederer to keep their feet firmly planted on foreign soil.

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