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Full Tilt Poker CEO Released On Bail

The CEO of Full Tilt Poker Ray Bitar has been released from jail after meeting the bail conditions placed on him by a federal judge in New York.

Bitar was headed to his California home by the end of Monday after he met the $2.5 million bail commitment, agreeing to put $2 million in property up as insurance to make sure he comes back to the court when ordered to do so.

Federal prosecutors had argued against bail being granted to Bitar because of new charges against the poker executive. The government claims that Bitar knew that Full Tilt Poker was a Ponzi scheme and that more than $300 million is missing from the company's bank accounts.

Bitar could spend the rest of his life in prison if convicted of the charge.

Along with the hefty bail price, Bitar was ordered to surrender his US passport.

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