The Poker Grapevine – Chris Ferguson’s Bank Accounts
Posted by: James Carter - Mon, 2012-01-30 10:58
Chris Ferguson was one of the most respected and highly thought-of poker professionals before Full Tilt Poker’s Black Friday fiasco, which uncovered quite a bit of dirty laundry behind the stages of the world’s second most popular on line poker
operation. Ferguson was heavily involved with the site, and as new details emerge about the scale of the site’s financial woes, it becomes more and more obvious that he has never been one of the good guys.
According to the latest reports, Ferguson was actively involved in the funneling away of funds from the site’s coffers, which does explain why Full Tilt hasn’t been able to repay any of its players to this day. The online poker community has long known about the shareholders’ mishandling of funds, however no one was quite able to pin actual numbers on the allegations, not until now that is.
According to an article made public by one of the most trusted poker news sources, Feguson had siphoned $60 million into various secret accounts, money which came entirely from the site’s coffers. While he has made $14 million of that money available to Full Tilt Poker after Black Friday, Ferguson has also withdrawn and spent about $45 million. Apparently, he does intend to get the $14 million back as well, as he’s threatened through his lawyer to block the Groupe Bernard Tapie takeover if the funds are not returned to his account.
The attention of the authorities and the public first focused on Ferguson after the DoJ added him, Ray Bitar, Howard Lederer and Rafe Furst to its Black Friday complaint, alleging that the board members defrauded Full Tilt’s players. The accused have recently picked up another extension to issue a response to the above said civil complaint. This extension is the third one granted to the group by US Attorney Preet Bharara. Those named in the complaint will have to respond till March 12 2012.