Ray Bitar and Bright Trading

L

lwlee

Ray Bitar became the CEO of Full Tilt Poker. They were in the middle of big scandal when the US gov shut down Full Tilt Poker. Money mismanagement. Player funds and operations cash were being commingled. Bitar was taken into custody and I believe is still waiting trial. One respected sports bettor called him a "buffoon".

Some damning statements about Bright Trading.
While once a hugely prosperous operation, today I find and believe that the parking lot is all but empty. The dozens of traders are gone and not likely to return. Of all the people that have taken this training and joined Bright - practically none are still there today.

While to me the legacy of Bright Trading is is a long history of broken bankrolls and broken dreams, I believe the victims of Full Tilt are better off than those of Bright Trading because at least they have some chance of getting their money back.


Ray Bitar and Bright Trading
 
Quote from lwlee:

I've been reading a number of daytraders' books that mentioned how they use the bond market to forecast SP futures.

Is this still the case? If so, would the 5yr, 10yr treasury bonds be good indicators?
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Hop on a plane and head to vegas.

Don and his brother can help pull your head out of your butt.

fail.

s
 
Lol, WTF? stay on topic plz. ADD, they have drugs for it.

Edit: I had to look it up since I have no clue what the guy is referencing. A post I did in 2006. WTF?
 
Hey dumbass,
I trade the Russell Futures full time now.

Plus my OP is good info. If u don't like it, give counterpoints not personal attacks.
 
Hey maybe shopster is Ray Bitar. :D Or does he work for Bright. Dude is all over the place with random posts from my past. I must have struck a nerve.

Edit: shopster, why u deleting all those nasty posts? dumbass.
 
Forbes, what I would call a credible source, reports here that Ray Bitar who Don, in an article on his site describes as "Ray Bitar, our Los Angeles office manager for many years" faces "up to 145 years in jail if he is convicted on all counts filed against him by the government"

The banner on the article reads "Feds Arrest Full Tilt CEO Ray Bitar And Again Call The Online Poker Firm A Ponzi Scheme."

And this is the guy Don proudly references as a manager of their LA office?

This is the guy I believe orchestrated one of the biggest ripoffs/scams/schemes in gambling/poker history. It has been reported that this ex Bright manager cost tens of thousands of victims tens of millions of dollars.

From what I have read I think that the victims of Full Tilt are better off than past losers at Bright becasue as a result of the Poker Stars purchase at least they, unlike the victims of Bright, have a chance to get their money back.


Jack
 
it is not the teacher, it is the student that blows out .
failed traders are littered along the side of the road with the needle in their arm.

many apply, very few are chosen.

was the poker scam connected to Bright trading in any way

when he worked for Don , was he scamming traders.

nope.

s
 
Quote from shopster:it is not the teacher, it is the student that blows out .failed traders are littered along the side of the road with the needle in their arm.many apply, very few are chosen. [/B]
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Sometimes that is true but if the failure rate is as high as it is at Bright then something must be said about the effecacy of the program.

This is especially applicable at Bright.

While I do not think Don or Bright had anything to do with the Full Tilt mess, it demonstrates, at least in this case, the calibre of people selected by Bright to run their offices

The legacy of both is that a lot of people lost a lot of money but at least at Full Tilt they have some chance of getting their money back, not so from Bright.


Jack
 
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