Ferguson Accounts "Could" Impact FTP Deal

Chris Ferguson
Chris "Jesus" Ferguson

Online poker news site Subject: Poker is reporting that former Full Tilt Poker co-owner Chris “Jesus” Ferguson had “secret” accounts into which he funneled money prior to Black Friday.

According to Subject: Poker, over the last four years Ferguson transferred an additional $60 million in Full Tilt dividend payments (on top of the $25 million paid into his personal accounts) into accounts belonging to Pocket Kings Ltd.

Those bank accounts were understood to be Ferguson's personal accounts it claims.

Ferguson withdrew or moved $45 million of the money through various means, the report says, including transfers to other personal accounts, payments to his lawyer Ian Imrich, loans to other FTP shareholders and the purchasing of more FTP shares.

According to Subject: Poker, $14.3 million of the $60 million was not withdrawn and instead was used with Ferguson’s approval to cover Full Tilt’s post-Black Friday expenses.

As for how the accounts could affect the impending deal, Subject: Poker sources say Ferguson and Imrich have been trying to recoup this $14.3 million and have threatened legal action to see an accounting of the money and reclaim any money “spent improperly.”

This may or may not even be possible though, Subject: Poker says.

The report also claims early versions of Full Tilt’s agreement with the Bernard Tapie Group included giving the equivalent in shares to Ferguson but that changed when the DOJ stipulated Full Tilt’s board of directors could not be involved in the new company.

No sources have been officially named and neither Imrich or Ferguson were reached for comment.

Read the full report here.

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