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Business & Tech

Glendora Man Pleads Guilty To Conspiracy In Ponzi Scheme Case

Founder of Internet poker company reportedly admitted to conspiring with others to process gambling funds disguised as money from phony companies.

An ailing Glendora resident was spared prison Monday after pleading guilty to conspiracy involving his Internet poker company.

Raymond Bitar made an appearance in a Los Angeles courtroom and transmitted his response via videotape to a district judge in Manhattan. The owner of Full Tilt Poker reportedly suffers from a serious heart condition, one that would make prison a "death sentence" for him and he was immediately sentenced to time served, according to the Associated Press.

Bitar would have served six years in prison.

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Officials reportedly would not have been able to provide Bitar with the medical neessities to attend to his ailing heart.

After his sentencing, Bitar was ordered to relinquish his assets as part of a plea deal.

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Read more at Boston.com.

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