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the summary of the for business within two weeks' newspaper - Article Example

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Author : geohermann

Summary

“Poker Web Site Cheated Users, U.S. Suit Says” By Matt Richtel, The New York Times, Sept. 20, 2011 http:/www.nytimes.com/2011/09/21/business/poker-site-misused-players-money-us-says.html?scp=1&sq=September+20+2011&st=nyt Summary A web site called Full Tilt Poker cheated millions of people who logged onto it to play poker…

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the summary of the for business within two weeks' newspaper

Without the knowledge of the customers, however, the money was transferred to the accounts of the owners and managers of the online gambling site, who were themselves were seasoned and prominent poker players. On behalf of the players who were cheated out of their money, federal prosecutors filed a civil complaint against the company, for an amount that could well reach $390 million, the amount allegedly acquired by the unscrupulous online game from its unsuspecting clientele. According to the federal prosecutors handling the case, the Full Tilt website was actually not a legitimate poker firm, but an elaborate Ponzi scheme the intention of which was actually to defraud those people whom the managers can entice to sign up with them. The fraud was revealed when the prosecutors had several poker sites shut down in the course of investigating two other poker web sites, which were based abroad. Because the site of Full Tilt Poker was also shut down, customers began asking for their money back, money which was supposed to have been held by Full Tile for safekeeping. When the reimbursements did not come, federal authorities were alerted, and the illegal scheme was discovered. ...
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