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Discussion Starter #1
I wondered when something like this would happen.

Online poker companies indicted for fraud

http://money.cnn.com/2011/04/15/news/economy/online_poker_indictments/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+rss/money_topstories+(Top+Stories)

Ben Rooney, staff reporter April 15, 2011: 6:21 PM ET


NEW YORK (CNNMoney) -- The founders of the three largest Internet poker companies have been indicted for bank fraud and money laundering, federal law enforcement officials said Friday.

The United States Attorney in New York unsealed the indictment against eleven people, including the founders of PokerStars, Full Tilt Poker, and Absolute Poker. In addition to charges of bank fraud and money laundering, the companies are accused of illegal gambling offenses.

The sweeping 52-page indictment alleges that the companies, based offshore, used "fraudulent methods" to get around U.S. anti-gambling laws "and to receive billions of dollars from U.S. residents who gambled through the Poker Companies."

The authorities also issued restraining orders against more than 75 bank accounts, and seized five Internet domain names used by the companies to host their illegal poker games.

The companies allegedly arranged for the money from U.S. gamblers to be disguised as payments to hundreds of non-existent online merchants for the purchase of items such as jewelry and golf balls, according to the indictment.

The defendants include Isai Scheinberg and Paul Tate of Poker Stars; Raymond Bitar and Nelson Burtnick of Full Tilt Poker; and Scott Tom and Brent Beckley of Absolute Poker.

"As charged, these defendants concocted an elaborate criminal fraud scheme, alternately tricking some U.S. banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits," U.S. Attorney Preet Bharara said in a statement.

Prosecutors also filed civil charges against the poker companies and several individual "payment processors," seeking at least $3 billion in penalties.

Prosecutors also alleged that John Campos, a part owner of SunFirst Bank in Utah, agreed to process Internet gambling transactions in exchange for a $10 million investment in his bank by one of the other defendants.

Prosecutors said they are working with Interpol and foreign agencies to secure the arrest of the remaining defendants, who are not presently in the United States.

"These defendants, knowing full well that their business with U.S. customers and U.S. banks was illegal, tried to stack the deck," said Janice Fedarcyk, FBI assistant director-in-charge. "They lied to banks about the true nature of their business. Then, some of the defendants found banks willing to flout the law for a fee."
How a bridge champ beats the market

The indictment shines a light on Internet gambling in the United States.

"The operation of their business is illegal, and in about half the states the player himself is violating state law," said Denver attorney Chuck Humphrey, who runs a Website dedicated to online gambling laws.

Alfonse D'Amato, chairman of the Poker Players Alliance, said he was "shocked" by the indictments, adding that his group "will continue to fight for Americans' right to participate in the game they enjoy."

"Online poker is not a crime and should not be treated as such," D'Amato, a former U.S. Senator, said in a statement.

Humphrey said Internet poker companies have argued in court that online poker is legal because it is a game of skill, as opposed to a game of chance.

But he pointed to recent cases involving online sports gambling, which resulted in jail time for some defendants, as an example of what might happen to those indicted Friday.

By charging the defendants with bank fraud, a criminal offense, Humphrey said prosecutors stand a better chance of extraditing them from countries where gambling is legal.

It was not immediately clear what will happen to any money that U.S. citizens had in accounts associated with the poker companies.

In 2007, federal prosecutors charged NETeller, an online payment company, with taking part in an online gambling conspiracy. That case resulted in a so-called deferred compensation agreement, in which the company agreed to return $94 million to U.S. customers.
 

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Discussion Starter #3
GoldEnclave said:
So sad... :sosad:

BTW, Sailfish, you are quickly become the forum's news bug. ;)
What? ???
 

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Discussion Starter #5
wait4me said:
News?

Fodder... :happy:
LOL....hey welcome back....I think. ;)
 

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Discussion Starter #9
wait4me said:
Eh, just funnin' with ya... Tks... ;D

HAHAHAHAHAHA okay! Hey you better be careful I am about to pass you in post counts. ;)
 

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Discussion Starter #12
:'( :sosad: :'( :sosad: :'( :sosad: :'( :sosad: :'( :sosad: :'( :sosad: :'(
 

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Discussion Starter #13
I never played the online poker games. Preferred the real thing in Vegas or Atlantic City. Heck even the boats on the Ohio river are fun at times.

Online poker industry ponders next move

http://www.chicagotribune.com/business/ct-biz-0419-online-poker-20110418,0,6330525.story

They're playing Texas Hold 'em poker on many websites all over the world, but probably not in Texas — or Illinois or Florida or anywhere in the United States.

In the wake of a dramatic bust by the Justice Department, the poker industry is in turmoil. Three of the major sites — PokerStars, Full Tilt Poker and Absolute Poker — are inoperable in the U.S. Millions of Americans accustomed to playing cards at home on the top poker websites will need to find some other way to get their poker fix.

Whether the game has a digital future in America is anyone's bet.

"Along with everyone else in the poker world, I'm shocked," said Brandon Adams, a poker professional who has appeared in high-profile tournaments, including ones televised on NBC and ESPN and who maintains a teaching site at ExpertInsight.com. "The expectation was that there would be warning signs. These sites went from multibillion-dollar enterprises to on the ropes overnight."

(cont'd)
 

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I play and actually used one of these sites. Pokerstars. Left a couple of hundred dollars out there that I might never recover. :facepalm: Oh well, we have casino's now in Pittsburgh. Actually went this past weekend and took home 400 from the texas holdem tables. It helps when you have AA over KK in the first 15 minutes. 3-4 times a year is all I need to get my fix. :cheers:
 

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Discussion Starter #15
Haven't been to the river boat casinos in a while did stay at one in Detroit but that was a few years back.

I think I prefer Vegas or Atlantic City. Thinking I may see if we could head out to Atlantic City perhaps next spring.
 

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Discussion Starter #16
Looks like those of you who still had winnings online have the chance to retrieve it.

Online poker players get their cash back

By Ben Rooney, staff reporter
April 20, 2011: 12:53 PM ET


http://money.cnn.com/2011/04/20/technology/online_poker_players_accounts/index.htm


NEW YORK (CNNMoney) -- Online poker players will be able to withdraw money from accounts at two of Internet poker companies recently indicted for bank fraud and money laundering.

The U.S. government agreed Wednesday to allow PokerStars and Full Tilt Poker, two of the three largest Internet poker companies, to resume use of domain names that had been shut down last week.

Under the "domain name use agreements" the companies will be able to reactivate pokerstars.com and fulltiltpoker.com to "facilitate the withdrawal of U.S. players' funds held in account with the companies."

The agreement also allows for players outside of the United States to resume playing for "real money" on the two Websites.

Prosecutors said the same agreement is open to Absolute Poker, the third company indicted last week, if it chooses to accept.

(cont'd)
 

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Yeah it happens for a pity. Some casinos are not honest with their clients and they really fraud. But if casino works clearly and honestly just your skill and you luck matters. I am also playing casino, but at pocker pulsa online. Of course I loose sometimes but 60-80% of gamers I win just because I am a good poker player, If you are a player just find good legal casino.
 
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