Full Tilt CEO Released on Bail

After spending one week in jail, Ray Bitar, the chief executive of the online poker company Full Tilt Poker, is returning to his Glendora, Calif. home after posting bail, according to Forbes.

Bitar was arrested after voluntarily surrendering to police last week in New York. He was indicted last year following the federal government’s crackdown on the online poker industry. The indictment also included allegations that Bitar was involved in a major financial fraud of Full Tilt’s clients.

According to the Associated Press, U.S. Attorney Arlo Devlin-Brown said Bitar lied to online poker clients by claiming their money would not be combined with company funds. The alleged fraud was called an “Internet Ponzi scheme” by Janice K. Fedarcyk, head of the New York FBI office.

Bitar has denied any wrongdoing and claims to have worked to repay Full Tilt customers.

For more on this story, click here.