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Ray Bitar Avoids Prison Sentence

By , Rakeback.com Staff Writer

Two years to the day since Black Friday, the former Full Tilt Poker CEO Ray Bitar has appeared before a New York courtroom by live video link.

Bitar pled guilty to the following felony counts:

  • Violation of UIGEA
  • Conspiracy to commit bank & wire fraud

“I regret my actions. I know they were wrong and illegal. I’m very sorry for the problems that Full Tilt Poker got into. It never should have happened. - Ray Bitar

The Verdict

Despite the charges coming with a maximum sentence of 35 years, Bitar has been released from prison after just seven days, being sentenced instead to 'time served'.

Bitar suffers from a heart condition requiring an urgent transplant, which may be impeded by prison time. Doctors estimations have Bitar at a 50% chance of death within the next year if he fails to undergo a transplant.

The driving factor in this sentence is Mr. Bitar’s precarious health condition. The Federal Bureau of Prisons is not able to provide the care that Mr. Bitar needs. Prison almost undoubtedly would kill him. - Judge Loretta Preska

Bitar has been ordered to surrender $40 million in cash, bank accounts and other assets, including his multi million dollar California home.

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