Chris Ferguson Possible Reason For Full Tilt Delay

Chris Ferguson has been named as the reason for the delays on the Full Tilt takeover.
1554 26th January, 2012 The Full Tilt Saga
Chris Ferguson Possible Reason For Full Tilt Delay

Subject:Poker has stated that they have good reason to believe Chris Ferguson is the reason why the deal between the DOJ and GBT has been stalled. It has been considered that Chris Ferguson's reasons for delaying the deal is an attempt to reclaim $14.3 million dollars that was used in the expenses of Black Friday.

Chris Ferguson was a major shareholder in Full Tilt Poker and has made significant sums from the poker site, with sources stating he made approximately $25.2 million to personal bank accounts, along with $60 million in accounts owned by him under the name of "Pocket Kings Ltd". From this, he has managed to withdraw $45.7 million. This has come from transanctions directly from himself, to the lawyer of Full Tilt Poker Ian Imrich, loans to other owners of the site, along with investments and a real estate company based in Hawaii.

The $14.3 million that was left in the accounts were used to Full Tilt's Black-Friday expenses, apparently from his permission to do so. Now he wants it back, but the GBT and DOJ cannot agree on the method to do so. It was suggested that GBT were to give Ferguson the equivalent amount owed to him in the payment of stock shares for the poker site. However, the DOJ have not allowed this, stating they do not wish for former Board members of Full Tilt Poker to have any interest within the new company.

Another problem facing Ferguson is that he still has a $25 million lawsuit from the DOJ, which means any money he acquires can, and probably will be seized. This suggests that Ferguson will attempt to acquire the fundings in a unethical method.

This has become a talking point in multiple forums, showing everybody that it could be possible to be hated more than Howard Lederer right now.

The story continues.

 

 

 

 

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Perry Garland

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