A report I saw last week embattled poker site, Full Tilt Poker, and reported that it has signed an agreement to be acquired by the French investment firm owned by Bernard Tapie.
Under the agreement Tapie would repay Full Tilt players the millions of dollars they have been unable to collect. Federal prosecutors accused the site and two other offshore poker websites of fraud and money laundering.
Prosecutors shut down access to Americans. Then, last month, prosecutors separately filed civil charges against Full Tilt, asserting that the site’s owners and managers had siphoned off hundreds of millions of dollars that were supposed to be held in the accounts of individual players.
Under the terms of the agreement between Tapie and the management of Full Tilt , the acquisition would not go through unless the civil suit is resolved.
