French tycoon buys poker site dubbed Ponzi scheme by DOJ

by Gautham Nagesh - 09/30/11 5:23 PM ET

{mosads}Separately, Full Tilt had its gambling license revoked by the Alderney Gambling Control Commission in the U.K.’s Channel Islands on Thursday. The commission had suspended the site’s license in June, forcing the shutdown of its international website.

The Justice Department shut down Full Tilt and two of the other largest online poker sites in April in the largest crackdown on illegal online gambling to date. The casino industry has responded by lobbying fiercely for the legalization and regulation of online poker.

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