Full Tilt Poker’s licence suspended, hundreds of jobs in limbo

30 Jun 2011

The Alderney Gambling Control Commission has suspended the licence and operations of Full Tilt Poker, which has headquarters in Cherrywood, Dublin.

The commission issued a statement saying that suspension notices were given to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, which collectively trade as Full Tilt Poker.

This suspension comes after an investigation in which the commission discovered that Full Tilt Poker was operating contrary to Alderney legislation.

“The decision to suspend the e-gambling licence was in the public interest and, because of the seriousness and urgency of the matter, it required that immediate action be taken ahead of the regulatory hearing,” said the commission.

The Irish Independent reports that a hearing will take place on 26 July in London.

The Journal reports that, in April, Full Tilt Poker CEO Ray Bitay was one of 11 charged by the FBI for illegal online gambling and bank fraud. This resulted in Full Tilt Poker’s US operations closing down, however, it continued to operate in Europe.

Manhattan US Attorney Preet Bharara said the defendants in this case “concocted an elaborate criminal fraud scheme, alternately tricking some US banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits.”

Bharara also said the defendants engaged in “massive” money laundering to circumvent gambling laws.

Full Tilt Poker has between 600 and 700 employees in Cherrywood and it is unclear how this action will impact staff.

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