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Brunson Says Lederer Claims He "Didn't Know" About Full Tilt's Financial Problems[ return to main articles page ]

By: Earl Burton    [See all articles by Earl Burton]
Published on Feb 22nd, 2012
In a recent blog post on his website, Doyle Brunson (pictured) seemingly came to the defense of the figures allegedly involved with the downfall of Full Tilt Poker. On Monday, Brunson used his official blog to offer his opinions on the Full Tilt Poker fiasco and included inside knowledge he had regarding the situation.

"I feel I was privy to things lots of people weren't because my best friend, Jack Binion, was interested in buying Full Tilt and did a lot of due diligence," Brunson stated in the post. Just as quickly, however, the two-time World Series of Poker Main Event champion emphasized what he wrote was simply his opinion on the issue.

"Was Full Tilt guilty of gross negligence and terrible mismanagement? Yes, of course," Brunson conceded. Brunson then revealed that Full Tilt's Ray Bitar, who was named in the original U.S. Department of Justice Black Friday documents, seemingly took over control of the company in 2008. This was done at the request of the largest stockholder, Chris Ferguson, and allegedly put Bitar at the helm of every aspect of Full Tilt's operation.

"The site under Bitar's direction started paying the stockholders huge dividends as the business grew," Brunson stated. Then, he looked to the reader for an explanation of what happened to the company: "If you were a stockholder, would you question the management of a company sending you hundreds of thousands of dollars each month? I doubt you would."

According to "Texas Dolly," once the financial troubles began to mount for Full Tilt - seizure of money by the DOJ, processors not clearing deposits, and the loss of a way to get money to the site were all mentioned - Bitar (pictured) continued to issue payments to stockholders and attempted to work his way out of the situation. "Bitar might have worked things out, but Black Friday happened and everything came to the surface," Brunson wrote.

When it came to the stockholders who received windfalls of cash, Brunson offered an explanation: "All of the stockholders said they knew nothing of the financial problems. I'm not defending nor persecuting anyone... Ferguson had a lot of faith in his friend Bitar. I've been in contact with Lederer and, when someone I've known for years, trusted, and respected looks me dead in the eye and says he didn't know about the financial problems, call me a big old Texas sucker because I will believe them."

As a way to end his post, Brunson stated, "All of the Federal agencies will do a thorough and complete investigation. I believe the truth will finally come out when the DOJ signs off on the case." In September, Lederer (pictured), Ferguson, and Rafe Furst were all named by the DOJ as operating a Ponzi scheme.

In the meantime, Brunson offered some sage advice to the poker community: "I know the majority of the poker world wants blood and believes they did know. I believe time will tell us the answer to that. I don't want to take a baseball bat and crush their grapes and I don't want to keep them from rejoining the poker world. Where do you stop the level of responsibility? The most widely read book in the world says, 'Let someone with no quilt cast the first stone.'"

The final words are probably in response to fellow poker pro Daniel Negreanu, who has made his feelings on the subject well known through outlets like a British poker magazine (where he called the Lederer family "scoundrels"), his own blog at Full Contact Poker (where he said, "Ray is a buffoon, Howard is arrogant, and Chris is a liar") and in a video blog released last week (where he advocated old school Vegas justice in saying he would have no problem with Lederer being "bashed in the nuts with a baseball bat").

Stay tuned to PocketFives for the latest Full Tilt Poker news.

Comments

  1. so doyle had 0 on ftp, good to know
  2. Fuck doyle brunson. Old bastard is probably in bed with Howard Lederer.
  3. Doyle is a legend, there is no disputing that, however his opinion on the whole situation is really worthless, and the fact that he is defending Lederer is mind blowing.

    Looks like doyle is getting senile with his old age, his trembling hands cant even shuffle chips.

    Anyone defending those morons at FTP can go to hell, straight up, and that's putting it nicely. Fuck FTP and now, FUCK doyle brunson.
    Edited By: smokerock247 Feb 22nd, 2012 at 10:59 PM
  4. This statement is so retarded for a man so well respected. In the corporate world, if you did not know of problems such as full tilt, being in the position someone such as Lederer is in, it is nobodies fault but his own for not knowing the company was in such shambles. He tells Doyle he didn't know anything, but refuses to make such a statement on the record after nearly a year? That i highly doubt. Doyle is overstepping his boundaries here. With so many peoples money tied up for over this debacle, he needs to STFU and stop defending a coward who is unwilling to defend himself.
    Edited By: scottypimpin1 Feb 22nd, 2012 at 11:01 PM
  5. This is all a bunch of he said she said bull shit
     
  6. I haven't got a quilt...someone hand me a stone plz.
     
  7. lol at everyone instantly saying doyle is full of shit blah blahyou retards know nothing on the subject other than what is reported as mere speculation on these forums.while i don't myself believe that the players were completely unknown to the situation jumping onto doyle for defending a friend who he believes to be innocent is out of order imoguilty before proven innocent on these boards
     1
  8.  
    Originally Posted by mcandrews3rd View Post

    lol at everyone instantly saying doyle is full of shit blah blahyou retards know nothing on the subject other than what is reported as mere speculation on these forums.while i don't myself believe that the players were completely unknown to the situation jumping onto doyle for defending a friend who he believes to be innocent is out of order imoguilty before proven innocent on these boards


    stick to poker.
  9. but yet none of the "stockholders" are giving anything back..RIGHT.
     
  10. Wasnt it Coward Lederer's job to know the financial condition of a company that he was a Director and major shareholder in? And if he didnt know its just as bad but it should have been and was his job to know, and to say he didnt know is even more of an insult to all of us, F&#@ YOU Lederer, Ferguson, Bitar, and every FTP pro that hasnt paid back their debts.
     
  11.  
    Originally Posted by fattymcbones View Post

    I haven't got a quilt...someone hand me a stone plz.

    I lol'd
     
  12. Look, if Howard actually didn't know about the financial debacle FT was in then he should have been out there defending himself the second after the story broke. I mean wtf. You're accused and lumped in with Bitar and Jesus as being a thief and you say nothing for almost a year??? And why, because your lawyer told you to stay quiet? Total BS imo. If I was accused of being a thief and honestly thought and knew that I was being wrongly accused you can bet your ass I'd be telling everyone I had nothing to do with it.
  13. FYI-

    Doyle Brunson @TexDolly For the record: I had 28,000 on Full Tilt. My son had 30K, my daughter 5K. We never got anything back

    Looks like he & his family got stuck for over 60K.
     
  14. Guess it was bound to happen, given his age and all . . . so how soon before all the charity tournies are in support of senile dementia and Alzheimer's now that one of the greats is afflicted?
  15. Am I the only one that remembers that U.S. Doyle's Room players were moved over to Full Tilt after DR left Tribeca? He likely knows a bit more than he's saying.
  16. OK, let's say we accept that "they" didn't know the company was stealing players' money and giving it to them.

    They sure as hell know it now!

    If they were honest decent people they would hand over every penny they got from Full Tilt to whatever entity can ensure it will be returned to the players.

    They have received stolen property. They have no right to keep it.
    Edited By: Cabo Feb 23rd, 2012 at 01:48 AM
  17. This would have meant alot more coming from FTP 6 months ago..this means nothing to me..if I met any of them in a dark alley..(or a well lit area)..let's just say I'd be spending the night in jail..I highly respect Mr. Brunson, but this is not his responsibility..FTP's silence is inexcusable..no matter who's to blame for the mishandling
  18. Id sit back and let you all call me names to for $40 mill in the bank....Id like to be in a cage fight with any of those 3 bitches for my 2500 on Full Tilt. If I lose donate it to Alzheimer's fund. Way to go Doyle
  19. I would maybe ask a question as to why I keep getting money sent to me when I wasnt getting nearly as much before
  20.  
    Originally Posted by Bigredscot View Post

    I would maybe ask a question as to why I keep getting money sent to me when I wasnt getting nearly as much before


    No you wouldnt
 
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