Online poker company founder from Calif. pleads guilty in NY federal case
{{#rendered}} {{/rendered}}
An Internet poker company founder accused of operating his business like a Ponzi scheme has pleaded guilty to conspiracy.
Raymond Bitar (BIH'-tahr), of Glendora, Calif., appeared Monday in a federal court in Manhattan. He's the founder of Full Tilt Poker.
He was sentenced to time served and had to give up his assets as part of his plea deal.
{{#rendered}} {{/rendered}}
Bitar flew from Ireland over the summer to face charges in a prosecution that shut down U.S. operations for the three largest Internet poker companies.
Prosecutors had alleged he falsely told poker players their money would be safe. But they said nearly $300 million owed to players worldwide was missing.
His lawyers said previously that he was helping recover money.