PPA Disappointed over Full Tilt Poker Ponzi Scheme Charges

September 26 - The Poker Players Alliance (PPA), the US poker organization that represents over one million poker players, issued a statement last week commenting on the latest list of charges leveled against Full Tilt Poker by the US Department of Justice (DOJ).

The DOJ recently amended a lawsuit against the online poker room, claiming it operated as a Ponzi scheme and defrauded its players out of millions of dollars. It claims that Full Tilt Poker executives were paid tens of millions our of player funds, and that the poker room owes players over $400 million.

The Executive Director of the Poker Players Alliance, John Pappas said: "This is a sad and disappointing day for American poker players."

"If true [about the Full Tilt Poker Ponzi scheme], these allegations detail a massive betrayal of player trust which will cause financial hardship for thousands, if not millions of individual poker players, none of whom are accused of doing anything wrong."

Pappas called on the Department of Justice to certify that the proceeds of any settlement or seizure that may result from this action would first be dedicated to reimbursing players.

"We further call on Full Tilt Poker, its management, directors and owners to take all available steps to ensure the prompt payment of players as their first priority," he said.

PPA Advising Full Tilt Poker Players

Since Black Friday, April 15th, the PPA has been advising Full Tilt Poker's players by giving them free legal advice on how they can go about trying to recover their funds.

"These new government allegations underscore the sincere need for Congress to act immediately to pass legislation that appropriately regulates internet poker in the United States, so that players can be protected from the types of abuses alleged by the Department of Justice today," he said.

He added that the DOJ's lawsuit did not change the PPA's mission - to make player reimbursements and effective federal or state licensing a priority.

The PPA's press release came ahead of another issued by the American Gaming Association (AGA), which called for immediate changes in United States gambling laws.

The AGA said that it had called on Congress to institute an effective online poker regulatory regime for the protecting of US players.

"Congress should begin changing the laws to protect consumers from such schemes," said the group, referring to the alleged Full Tilt Poker Ponzi scheme, of which the online poker room is being accused of operating.

"Every time a shady website is shut down, an even shadier one pops up," said the group.