U.S. Alleges Full Tilt Poker Was Ponzi Scheme

Discussion in 'Wall St. News' started by ChkitOut, Sep 20, 2011.

  1. WS_MJH

    WS_MJH

    Good luck. Republicans will luckily destroy Obama in 2012, but it may be close. There's just too many socialists in this country for there to be a true conservative party. I have no problem with you griping, but the world is what it is and we'll have to settle for the Republicans, as awful as they sometimes are.
     
    #21     Sep 21, 2011
  2. You know ws,,,your right. You can look over americanelects.com though, they intend on being on every states ballot.
     
    #22     Sep 21, 2011
  3. Well, I guess for sure am not getting back my $800 I had in my account that I had there when it shut down.
     
    #23     Sep 21, 2011
  4. you gambled and put your money at risk in a venture that was clearly against the law and flaunting it.

    the biggest fold you ever saw.
     
    #24     Sep 22, 2011
  5. Pekelo

    Pekelo

    And that is why it is not a Ponzi, just common theft. If the definition doesn't fit, you must acquit. :)

    Just like if a bank president runs away with the depositors money, that isn't a Ponzi....Players weren't promised high rate of returns, no matter how they play. They were promised winnings returned, if they are good at poker.

    Now to correct myself, good old Charles originally did buy some IRCs (international reply coupon) and tried to redeem them:

    "He borrowed money and sent it back to relatives in Italy with instructions to buy postal coupons and send them to him. However, when he tried to redeem them, he ran into an avalanche of red tape."

    After that it was straight out fraud.... Here is the best part: "Soon afterward, Ponzi started his own company, the "Securities Exchange Company"

    The Full Tilt guys simply just stole the clients money, as it seems.

    For extra fun, here is Ponzi's autobiography:

    The Rise of Mr. Ponzi

    http://pnzi.com/
     
    #25     Sep 22, 2011
  6. No it isn't. A Ponzi is a scheme where investors are enticed by high returns, which are then paid out by subscriptions from new investors. A Ponzi is not simply any enterprise where liabilities are greater than assets - that is just an insolvent business.
     
    #26     Sep 22, 2011
  7. You better hope so. As bad as the Republicans are, they're still one notch above the muck of the Dems. Unfortunately, "one notch" isn't worth much. We need the leadership which will "rise above". Also unfortunately, we're not likely to get that regardless of who gets elected. There are just too many parasites draining the life from our formerly capitalist/personal freedom system.
     
    #27     Sep 22, 2011
  8. I acquiesce.
     
    #28     Sep 22, 2011
  9. All casino games are zero-sum
     
    #29     Sep 22, 2011