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DOJ indicts U.S. poker sites
are we allowed to mention other poker sites here?
http://www.marketwatch.com/story/doj-indicts-founders-of-top-us-online-poker-sites-2011-04-15-1358350?link=MW_latest_news
http://www.marketwatch.com/story/doj-indicts-founders-of-top-us-online-poker-sites-2011-04-15-1358350?link=MW_latest_news
Comments
Time for sky poker to go global maybe? lol
suppose its best to cash out then ?
And domains?
That sounds serious for the players?
just withdrew my cash ,
but u.s players are blocked at present according to other forums .
best advice seems from other forums is,
take your money and run .
hope you dont mind, i just copy/pasted that to my other forum I use
hope we arent creating a scare for no reason!
Is it best to withdraw or will it only be US players effected. Seems kind of hursh to punnish the rest of the world for something thats illeagal only in America.
Bloody Americans.
I think there will be mass withdrawals from all those sites now. No idea what it all means though. Luckily I have no rolls on those sites
Glad I only have a few pounds in stars and tilt!
Reuters News Content .
NEW YORK, April 15 (Reuters) - The owners of three of the largest Internet poker companies operating in the United States were accused on Friday of tricking regulators and banks into processing billions of dollars of illegal Internet gambling proceeds. Eleven people including the owners of Full Tilt Poker, Absolute Poker and PokerStars were charged with violating U.S. anti-Internet gambling laws, according to charges filed by federal prosecutors in Manhattan. The charges are part of a crackdown on Internet gambling in the United States, where it has been illegal since 2006. In March, Wynn Resorts Ltd said that it had entered into a partnership with PokerStars, and that they would work for passage of U.S. legislation that would define illegal Internet gambling. (Reporting by Basil Katz)
http://blogs.forbes.com/nathanvardi/2011/04/15/founders-of-worlds-biggest-online-poker-companies-indicted/
I have read on another forum that it will affect all players worldwide. Some players in the U.K. are unable to log in on Full Tilt. I still can but only have $4 there
THE WALL STREET JOURNAL
By CHAD BRAY
NEW YORK—Eleven people, including the founders of three of the largest online poker companies doing business in the U.S, have been charged in the latest crackdown on Internet gambling by U.S. authorities.
Federal prosecutors in Manhattan have alleged the poker companies, which are located outside the U.S., tried to sidestep U.S. laws prohibiting banks and credit-card issuers from processing gambling payments by disguising billions of dollars from U.S. gamblers as payments to nonexistent online merchants for golf balls, jewelry, flowers and other merchandise.
After U.S banks and financial institutions began detecting and shut down bank accounts used by the scheme in late 2009, prosecutors allege, a new strategy was developed in which two online poker websites allegedly persuaded a few small, local banks facing financial difficulties to process their payments in return for multimillion-dollar investments in those banks.
"Foreign firms that choose to operate in the United States are not free to flout the laws they don't like simply because they can't bear to be parted from their profits," said Preet Bharara, the U.S. attorney in Manhattan.
Those charged Friday include the founders of online poker websites PokerStars, Full Tilt Poker, and Absolute Poker. The charges include bank fraud, money laundering and online-gambling offenses.
Representatives of PokerStars and Full Tilt Poker didn't immediately respond to requests for comment Friday. Contact information for Absolute Poker couldn't immediately be located.
Federal authorities also have filed restraining orders against 76 bank accounts in 14 countries allegedly associated with the poker companies and others as a part of a separate civil forfeiture action. They are seeking at least $3 billion in civil money-laundering penalties and forfeiture.
Prosecutors also seized five Internet domain names used by the poker companies.
Friday's indictment and seizures mark the latest effort by U.S. authorities to crack down on online gambling. In recent years, some executives of overseas online-gambling firms have been arrested when the travel to the U.S.
In October 2006, the U.S. made it a crime for companies to knowingly accept electronic payments in connect with Internet gambling.
In the latest indictment, U.S. prosecutors have alleged that the poker companies recruited third parties to open banks accounts and process "e-check" transactions using phony company names. Four men who allegedly acted as middlemen in collecting payments also have been charged.
About a third of the funds deposited by gamblers went to the poker companies as revenue, known as the "rake," prosecutors said. A rake refers to a percentage of a poker pot that it is collected by a casino or online poker site after a player wins the hand.
Have just tried to access FT and PS but unable to get on website, just comes up with message saying site has been taken over by authorities. Withdrew my BR from Stars 3 days ago and just hoping money appears in my bank this week. Get out now while you can if I were you.
take it now before the cash cow dries up .
seriously though this situation looks a bit worrying!!