Ray Bitar, the chief executive of Full Tilt Poker, was released on bail yesterday after a week in federal custody in Manhattan.
The deal allowed Bitar to return to his home in Glendora, California, for the first time since he was indicted by the Department of Justice on April 15, 2011.
"Bitar will be permitted to travel only to the Eastern and Southern Districts of New York and Central District of California, where he will be residing. Finally, not only will Bitar have to take part on strict pre-trial screenings, he will also be required to submit to electronic monitoring, which will fall under the auspices of the central district of California.", diamondflushpoker.com reveals.
According to several sources, Bitar posted a $2.5 million personal recognizance bond under the terms of the bail arrangement. He also agreed to add a warehouse he owns to the cash and assets he was posting for bail.
Forbes.com reported, that five people close to Bitar are backing his bail commitments:
"Five people close to Bitar are backing his bail commitments and will be on the hook if he does not honor the deal. Bitar will remain in the New York area for the next 48 hours until he discloses to federal prosecutors all of the assets he holds both in the U.S. and abroad."