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Bitar Sentenced to Time Served, Forfeits Assets
Ray Bitar appeared by video link in a Manhattan court today to finalize his plea deal and relinquish his assets obtained via Full Tilt Poker.
According to Bloomberg News Bitar pleaded guilty to conspiracy on two counts, was sentenced to time served and relinquished his ill-gotten assets as previously agreed to in his plea deal.
In custody at his home in California since his arrest in July of last year, Bitar agreed to a deal which sees him evade jail time while he awaits a heart transplant. The judge in the case had the discretion to setence Bitar to up to 35 years in prison.
Doctors estimate Bitar's heart condition gives him a 50% chance of dying within the next 6 to 12 months if he doesn't receive the transplant.
The exact dollar figure of Bitar's forfeiture was listed at $40 million, which is comparable to Howard Lederer's forfeiture agreed to last year.
Bitar's lawyer also told the judge Bitar would be enrolled in a heart transplant program on May 6.