Calling The Clock: PPC Ponzi Scheme; PokerShares & More

In this week’s Calling the Clock we bring you up to speed on the collapse of the Poker Player’s Championship tour, the return of the Bank of Timex, and the coronation of King Peters.

We begin our weekly poker news round-up with a scandal.

Several players who failed to receive their winnings at the most recent Poker Player’s Championships (PPC) in Aruba are suing the tour’s owners, Bryan Oulton and Thomas ‘Sandy’ Swartzbaugh, and four more defendants including Maryland Live! casino, after it came to light that the top seven finishers only received $10,000 in prize money.

Amongst the allegations cited on the legal paperwork, include the words ‘Ponzi Scheme.’ The four plaintiffs are event winner Stephen Deutsch, Michael Lerner (4th), John Ott (5th) and Joan Sandoval (6th). Former tour ambassador, and World Series of Poker (WSOP) bracelet winner, Ronnie Bardah, has severed ties with the now maligned outfit. Maurice “Mac” VerStanding is the man trying to get the boys their money back.