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U.S. Alleges Full Tilt Poker Was Ponzi Scheme

Posted By: Steve Mellen
Date: Tuesday, 20 September 2011, at 11:12 p.m.

In Response To: U.S. Alleges Full Tilt Poker Was Ponzi Scheme (Paul Weaver)

The US Government has a bad habit of throwing around the term "Ponzi scheme" to describe many things that aren't. (So do some private citizens, I've noticed.) I've handled enough cases involving Ponzi schemes to know the difference, mostly.

The fact remains, though, that Full Tilt players have never gotten their money back. This shouldn't happen with a company that segregates customer accounts from operating capital. Now, technically speaking, failure to segregate customer accounts as promised doesn't automatically make you a Ponzi scheme - but it's a pretty sketchy thing to do, at a minimum.

I do think it is a good idea to refrain from rushing to judgment in these cases.

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