By James Spillane, 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:
“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
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.
Ray Bitar has a heart? Coulda fooled me.— Jonathan Aguiar (@JonAguiar) April 8, 2013
Zing....@kevmath: This begs the question, Ray Bitar actually had a heart?”— Joe Tall (@JoeTall) April 8, 2013
Shame about Ray Bitar needing a heart transplant; wish Dr. Kevorkian was still around to operate.— Tony Dunst (@Bond_18) April 8, 2013
@agentmarco He stole the players' money, no inconsistency— Todd Terry (@toddbterry) April 15, 2013
. @toddbterry If I'm reading correctly, what Bitar pled guilty to today has more to do with UIGEA & banks and less to do with player funds.— Marco Valerio (@AgentMarco) April 15, 2013
— Todd Terry (@toddbterry) April 15, 2013
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