Former Full Tilt CEO found guilty

The disgraced CEO appeared via video link from a California courtroom as his ill health prevented him from travelling. “I regret my actions, I know they were wrong and illegal,” he said. U.S. District Judge Loretta Preska said Bitar’s “precarious health situation” drove her sentencing decision.

“Good luck to you sir, and good luck to your family,” Preska said to Bitar at the end of the hearing.

In total Bitar had been charged with nine criminal counts, including operation of an illegal gambling business, wire fraud and conspiring to take part in money laundering.

He pleaded guilty to one count of violating the Unlawful Internet Gambling Enforcement Act and one count of conspiracy to commit bank fraud and wire fraud. Bitar admitted to lying to customers about the safety of their money with the company.

Bitar could have faced a maximum of 35 years in prison for his crimes. John Baughman, his lawyer, requested that his client not be sent to prison given his failing health due to a severe heart condition. According to his lawyers Bitar now has to wear a defibrillator under his clothes and prosecutors agreed not to oppose a sentence that included no prison time.