Former Full Tilt CEO Ray Bitar Requires Heart Transplant and will Forfeit $40 Million in Assets
Ray Bitar has been diagnosed with Class IV heart failure and his chances for survival over the next 6-12 months without a heart transplant or an artificial heart is about 50%. Doctors have recommended that Bitar not travel due to his condition and a guilty plea is to be entered via video from California where Bitar is currently residing. If Bitar were to serve a prison sentence, this would eliminate his chances as a candidate for a heart transplant and therefore,
Bitar’s plea agreement with federal prosecutors could result in the former CEO of Full Tilt Poker forfeiting approximately $40 million in assets but serving no prison time, according to sources.
Bitar is expected to plead guilty to two of the nine felony charges he faced when he turned himself in at John F. Kennedy International airport in New York last July and was released on $2.5 million in bail after pleading not guilty to charges of wire fraud, money laundering, and operating an illegal gambling business in connection with the US Government’s crackdown on online poker known as “Black Friday”.