I would give the guy in late position 2 options:
Complete the raise to 9,600 (the prior person had raised 3,600 on top of 2,400), or
Fold with his 4800 in the pot.
That's being kind. Technically, he should only have the first option (complete the raise).
He cannot call. He cannot pull his money back. He cannot raise it more than 9600. It is obvious that he wasn't paying attention and thought he was the first in the pot with his min raise. For him to argue otherwise is, well...
You know what I'm saying.
If he said nothing, you might have invoked cash game rules and allowed him to pull his money back if there had been no action after him. (I don't allow this at my games, dead money is dead money, no backtalk). Or he could call, but not raise.
"Raised." Without any other qualifying words (such as "Oh, he raised, damn." or "Who raised?") is a raise. Compounded by the fact that he put out 4800, which is exactly a min raise of the bb. The fact pattern makes me think that he just wasn't paying attention and, when he realized he made a mistake, he was likely trying to weasel out of it.
That being said, I wasn't there (and I haven't heard about this hand from other sources) but if you allowed him to complete to just a call, not giving the initial raiser an opportunity to re-raise and protect his (possibly to likely) better hand, and the guy called (because he had so much dead money already) and sucked out with a lower quality hand, the initial raiser would have a valid reason to be seriously pissed off at you.
So, what happened?
