Top news not only in the poker world but in the mainstream media as well is that Raymond Bitar, the CEO of beleaguered online poker site Full Tilt Poker was arrested and shortly thereafter released on bail for the charges alleged against him.

Raymond Bitar, former CEO of Full Tilt Poker (itself a former top poker site) was arrested under a recently amended version of the U.S. Justice Department’s 15-month old, 9-count federal indictment for his activities running the poker site. Bitar is looking at life imprisonment for charges of running an Internet ponzi scheme in the U.S., which is what federal prosecutors say Full Tilt Poker amounted to. They charge that Full Tilt Poker, under Bitar’s leadership, stole over $350 million from U.S. and worldwide online gamblers, the U.S. attorney claiming that Bitar fixed the online poker games at FullTilt against the players to favor the house and thusly line his pockets. A blatantly lavish lifestyle definitely supports the U.S. attorney’s claims against Bitar.

Bitar had originally exiled himself to Ireland to avoid arrest in the United States, but on July 2 he returned to face his accusers. He turned himself into the federal authorities and was, last week, officially arrested held in New York federal custody until posting a bond of $2.5 million and putting up $2 million in property to ensure that he turn to Manhattan’s U.S. Courthouse for his trial.

As of Monday, July 16, 2012, Ray Bitar is now under house arrest in his Glendora, California home, where he is being monitored by federal agents.