Former Full Tilt CEO Will Plead Guilty To U.S. Charges

The former Chief Executive Officer of poker giant Full Tilt Poker has reportedly struck a plea deal with the U.S. Department of Justice, which will see the defendant giving up a large sum of his personal wealth, but escape jail time.

Several news sources in the U.S. are claiming that Ray Bitar, the former CEO of the resurrected poker giant agreed to the deal with federal prosecutors, which will see the soon to be convicted felon staying out of jail due to his poor health. Bitar has a serious heart problem, which if not treated with a transplant could die within a year.

The cost to Bitar will be about $40 million, which will likely include cash and personal property including Bitar's house.

A hearing in federal court will happen soon, with Judge Loretta Preska set to confirm or deny the plea.

About the author