There is a saying, where is a lot of money, temptations are great.
Below are some of the great online poker scams presented by
www.tightpoker.com and at the end of the quote you have a link to the full article.
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Ultimate Bet / Absolute Poker Go Bust
The Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in 2006, making transactions between online sites and financial institutions unlawful. This led to many online poker sites pulling out of the US market, but Ultimate Bet / Absolute Poker continued to trade alongside other names such as PokerStars and Full Tilt – their combined player pool was known as the Cereus Poker Network.
This all changed in 2011 after ‘Black Friday’, when the US department of justice and the FBI closed down the operation of
sites in the US, with Absolute Poker / Ultimate Bet being indicted. The federal government seized the funds, which amounted to no more than $3 million, despite the balances of the players amounting to more than $50 million. The main reason there was such a huge hole in the finances is because the site had paid out the victims of fraud with other player’s funds.
‘Black Friday’ would also uncover another poker scandal, this time associated with Full Tilt, who were the second biggest poker site at the time. Alongside indictments aimed at PokerStars and Absolute Poker / Ultimate Bet owners and employees, Ray Bitar and Nelson Burtnick of Full Tilt poker were indicted. These individuals were charged with charged with fraud, money laundering, and violation of United States federal gambling laws.
On September 20th 2011, further accusations of defrauding poker players out of more than $300 million were made against Chris Ferguson, Howard Lederer, Rafe Furst and Ray Bitar. The justice department claimed that Full Tilt were running a ‘Ponzi’ scheme, allowing them to pay out $444 million to themselves and other famous poker players. More than a year and a half later, Ray Bitar reached a deal with prosecutors to plead guilty to criminal charges and was ordered to surrender his assets.
PokerStars would eventually purchase Full Tilt poker and the majority of the funds lost were paid back to players. This would take nearly three years in all.
In May 2012, Lock Poker made the move back to the Cake network, after allegedly buying the network and renaming it Revolution Gaming (this claim was later found out to be false). It was this point that player pay outs started to slow down and this caused other skins on the network to slow down with payments, laying the blame firmly at the feet of Lock Poker.
In October 2013, Lock suddenly started its own network, with brand new software developed for the site. The slow payment to players continued and eventually these stopped altogether. In April of 2015 Lock Poker shut down altogether and it is believed to have cost the player base millions of dollars. The site was regulated in Curacao and many players have criticized the local government for their complete inaction on the matter.
The Lock Poker scandal shows a good example of a site which offers bonuses, promotions and rake-back levels which are just too high, making the running of the company unsustainable.
In 2009 another scandal hit the online poker world, when ‘chesterboy’, a user of the 2+2 forum made claim that Pitbull poker might have super-users on the site. ''' ........
