I'M sorry guys, but today We're gon na have to have a serious talk. You already know what it's going to be about and, frankly, who it's going to be about? No, no, the other, It's about the other guy, But the other guy in case you've not been following along. It has been made official Chris Ferguson is your World Series of Poker Player of the Year for 2017.
I Douche Douche Major douche Know this seems like it can't be happening. This can't possibly be true. Chris Ferguson, One of the major shareholders behind Full Tilt Poker, is our World Series of Poker Player up there. How are we supposed to handle that? How are we supposed to take that after what happened to all of our money?
I know I had money unfold, so I know a lot of you guys had money on Full Tilt and Even though we did get it paid back because poker star stepped in and bought back those funds or rather bought the company and paid Out those funds. It'S still something that we have to deal with when we see him at the World Series of Poker Getting his banner that will be hung at the Rio. That'S right next summer, Chris Ferguson will be getting his own banner at the Rio You're gon na have to look at this grill all day.
While you play in your oversized $ 400 tournament. Chris is 54 years old. Has six World Series of Poker bracelets after his most recent, when he's from Los Angeles And he's most known for his signature, cowboy hat, which again is kind of weird when you're from Los Angeles? Now, Let's give a little backstory here for some context on Chris Ferguson, He was one of the founders of Full Tilt Poker with Howard Lederer And he is rumored to have had the second largest piece of Full Tilt Poker. I don't know the exact breakdown I couldn't find it anywhere, But as far as I know, he was one of the major Shareholders. Now there were two major sites in the US market at that time: PokerStars and Full Tilt Poker and PokerStars had their money segregating to player account funds so that if they ever I depending went out, They would have the money to do so, which they did when Black Friday, hit Full Tilt ever was not exactly running shipshape.
They were had that money all over the place. They were paying people out, they had tons of Overhead. There were. There are many rumors of different Full Tilt, Poker prose being paid a hundred thousand a month.
Five hundred thousand a month, a million dollars a month and Sometimes from players needed money to get back into action. The company would just front the money to these players to get them playing again, So, rather than keeping the money somewhere safe where they could play pay players if they ended up needing to, They were Constantly throwing that money around and moving it around and paying people Or you know, lending people and engaging all in all kinds of acts That are certainly illegal with your money. Now It's unclear exactly what happened? I'M not an attorney. I don't want to say something that could be wrong, but Many people were indicted. There was a full legal case here where players were Sued or taken to both criminal or civil court, and many people were fined a lot of money along the way.