Rafe Furst Responds with Open Letter Regarding Full Tilt

Rafael Furst
Rafe Furst.

An unexpected name to surface in the DOJ's amended claim against Full Tilt Poker yesterday, FTP shareholder Rafe Furst has released an open letter addressing the situation via his personal investment blog.

Specifically, Furst says due to the seriousness of the allegations he's not allowed to comment on the pending DOJ case.

He does however say he feels he has "nothing to hide" and that "it sucks to have to endure the character assassination and potshots" being taken at him.

The full letter can be found below or at emergentfool.com.

“By now you’ve no doubt heard about the allegations against me in a Federal civil suit regarding Full Tilt Poker.

“Because of the seriousness of the allegations I’m not able to comment at all about the pending case, much as I would like to.

“From a moral, personal and interpersonal perspective I feel I’ve got nothing to hide. And since I trust in our system of justice and have the utmost respect for my legal counsel, I will refrain from talking about the case until it’s resolved.

“What I would like to express here is concern for my family, friends, colleagues and supporters who believe in me and who feel my pain as if it were their own.

“It sucks to have to endure the character assassination and potshots being taken at me in the media and social networks without being able to defend myself.

“Privately though I have received incredible support from many of you, and I can’t tell you how much it means to me. May you never have to endure something like this, but if you do, I hope you have friends as good as mine.

“To the skeptics, please consider that not everything you read is true, and our society is built on a presumption of innocence until proven otherwise.

“It’s difficult to take back hurtful things that you might later regret, when the damage has already been done.

“To those of you who have asked what you can do to show your support, I am grateful for the offer.

“My only request at this time would be to not let the naysayers and haters be the only voices out there expressing their opinion of me.

"My twitter is @rafefurst, and I’d love to hear from you publicly.

"With Respect and Love,

Rafe"

According to the amended claim, Furst was one of the Board of Directors of Full Tilt Poker and was part of the disbursement of $444 million in payments to owners that were at least partially paid out with player deposits.

Furst himself was reported to have received $11.7 million in shareholder payments between April 2007 and April 2011.

See our news story for more on yesterday's amendend claim against Full Tilt Poker and its owners.

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Daniel 2011-09-22 06:35:39

Poor guy... Cry me a fucking river Rafe.

Tilted 2011-09-22 06:11:44

Kevin what you mean baseless? The only thing you are right with what you are saying is that prosecutors charges unfairly and off course we have only heard them so far since defendant are usually advised not to say anything at this stages by their lawyers. But by adding politics and such nonsense you either have no clue or your are Howards father. I'm owner off a IFA business and I see similar quite often in the financial industry. To say its a Ponzi scheme is not correct since such scheme don't even transact business. But looking at the information that's on the table now it's fraud. The reason is that you cannot not take out dividends and not even use money that's not yours and its clear that I and other that had money there was the owners off the account, its a simple as that. Its obvious that they have taken out heck of a lot more then was rightfully theirs and I would be surprised if this does not goes to criminal shortly. I personally know two off the FTP pro's that's 1% equity holders and they must be disgusted at this moment and as shocked as the rest off the poker world reading the ridiculous money that has been transferred to the Directors and the major equity holders. Sure the smaller owners has made money as well but I don't think they had a clue about the size of the payouts. And Kevin you need to wake up

Kevin 2011-09-22 05:48:09

In my opinion, the criminal charges, which I have dissected on my website, are baseless. And, in my experience, prosecutors often charge defendants unfairly, exaggerate any wrongdoing, and always assume the worst motives. Moreover, prosecutors will use any statement defendants make to the media against them, thereby denying individuals the ability to defend themselves publicly while the prosecutors trash their reputations. When you add politics to a law enforcement agenda, the prosecutors are even less trustworthy. Therefore, I will wait to see the actual evidence before casting stones at those who were running Full Tilt.

Mik 2011-09-21 23:53:29

Would you trust this man with your bankroll?

SickCallChuck 2011-09-21 23:13:56

I feel so sorry for him... are you f kidding me! Every murder on the Stand tells the Judge that he's innocent. Rafe is sadly no exception but a full grown criminal that feel's somehow, maybe because they got caught, that he is a victim now!! For being millions richer and not in Jail makes us being the Victims!! Put this Slimbag in Prison with the rest of these Crooks.

Mike Green 2011-09-21 22:51:47

Always seemed like a good guy to me, very charitable think he got screwed by lederer and ferguson too slimeballs.

Hank 2011-09-21 22:48:42

Seems like fitting name for his website.