***Feds Go After Online Poker sites_ 4betJam***

[kingtre]

Crazy to see these developments...I know theres not a huge poker playing population here but everytime we have  apoker thread a bunch of people come out the woodwork so i guess its post worthy

CNBC
Three Largest Internet Poker Companies Charged With Fraud, Illegal Gambling - Pokerstars, Full Tilt Poker, & Absolute Poker - Charged
less than 10 seconds ago via Seesmic Desktop

Looks like the Feds have seized the domains for Pokerstars, Fulltilt, AP

http://www.marketwatch.com/story/do...-sites-2011-04-15-1358350?link=MW_latest_news

http://www.marketwatch.com/story/doj...MW_latest_news

SAN FRANCISCO (MarketWatch) -- Federal authorities unsealed an indictment Friday against the founders of the three largest internet poker companies operating in the U.S. The indictment charges eleven defendants, including the founders of PokerStars, Full Tilt Poker, and Absolute Poker, with bank fraud, money laundering, and illegal gambling offenses, according to Federal authorities in New York. Restraining orders were issued against more than 75 bank accounts used by the poker companies and their payment processors, while five Internet domain names used by the companies to host poker games were seized, federal authorities added in a statement.
what you see when you access the sites:

[h1][/h1]

[h1]Online Poker's Big Three Indicted[/h1]

On Friday, an indictment against the founders of online poker's "big three" was unsealed by federal authorities. Accoridng to MarketWatch.com, the founders of PokerStars, Full Tilt Poker, and Absolute Poker were indicted on charges of bank fraud, money laundering, and illegal gambling. There were also restraining orders issued against over 75 bank accounts used by the online poker companies and their payment processors, as well as five Internet domain names.

The United States Department of Justice released a PDF of the indictment, and in it, 11 defendants are named: Isai Scheinberg, Raymond Bitar, Scott Tom, Brent Beckley, Nelson Burtnick, Paul Tate, Ryan Lang, Bradley Franzen, Ira Rubin, Chad Elie, and John Campos.

In the indictment, Manhattan U.S. Attorney Preet Bharara said, "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. Moreover, as we allege, in their zeal to circumvent the gambling laws, the defendants also engaged in massive money laundering and bank fraud. 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."

FBI Assistant Director-in-Charge Janice K. Fedarcyk said, "These defendants, knowing full well that their business with U.S. customers and U.S. banks was illegal, tried to stack the deck. 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. The defendants bet the house that they could continue their scheme, and they lost."

At least $3 billion in civil money laundering penalties from both the poker companies and defendants is being sought after. According to the indictment, Campos and Elie were arrested Friday morning in Utah and Las Vegas, Nevada, respectively. Franzen is expected to appear in court for his arraignment on April 19, 2011. Those who are not in the United States, Scheinberg, Bitar, Burtnick, Tate, Tom, Beckley, Rubin, and Lang, have not been arrested, but the U.S. Attorney's Office in the Southern District of New York is working with foreign law enforcement agencies and Interpol to arrest the defendants.

PokerNews has attempted to contact all three online poker sites, and thus far, only UB/AP has replied, and has no comment at this time.

US DOJ Press release:

http://www.justice.gov/usao/nys/pres...dictmentpr.pdf

http://www.justice.gov/usao/nys/pressreleases/April11/scheinbergetalindictmentpr.pdf

 

[kingtre]

Crazy to see these developments...I know theres not a huge poker playing population here but everytime we have  apoker thread a bunch of people come out the woodwork so i guess its post worthy

CNBC
Three Largest Internet Poker Companies Charged With Fraud, Illegal Gambling - Pokerstars, Full Tilt Poker, & Absolute Poker - Charged
less than 10 seconds ago via Seesmic Desktop

Looks like the Feds have seized the domains for Pokerstars, Fulltilt, AP

http://www.marketwatch.com/story/do...-sites-2011-04-15-1358350?link=MW_latest_news

http://www.marketwatch.com/story/doj...MW_latest_news

SAN FRANCISCO (MarketWatch) -- Federal authorities unsealed an indictment Friday against the founders of the three largest internet poker companies operating in the U.S. The indictment charges eleven defendants, including the founders of PokerStars, Full Tilt Poker, and Absolute Poker, with bank fraud, money laundering, and illegal gambling offenses, according to Federal authorities in New York. Restraining orders were issued against more than 75 bank accounts used by the poker companies and their payment processors, while five Internet domain names used by the companies to host poker games were seized, federal authorities added in a statement.
what you see when you access the sites:

[h1][/h1]

[h1]Online Poker's Big Three Indicted[/h1]

On Friday, an indictment against the founders of online poker's "big three" was unsealed by federal authorities. Accoridng to MarketWatch.com, the founders of PokerStars, Full Tilt Poker, and Absolute Poker were indicted on charges of bank fraud, money laundering, and illegal gambling. There were also restraining orders issued against over 75 bank accounts used by the online poker companies and their payment processors, as well as five Internet domain names.

The United States Department of Justice released a PDF of the indictment, and in it, 11 defendants are named: Isai Scheinberg, Raymond Bitar, Scott Tom, Brent Beckley, Nelson Burtnick, Paul Tate, Ryan Lang, Bradley Franzen, Ira Rubin, Chad Elie, and John Campos.

In the indictment, Manhattan U.S. Attorney Preet Bharara said, "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. Moreover, as we allege, in their zeal to circumvent the gambling laws, the defendants also engaged in massive money laundering and bank fraud. 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."

FBI Assistant Director-in-Charge Janice K. Fedarcyk said, "These defendants, knowing full well that their business with U.S. customers and U.S. banks was illegal, tried to stack the deck. 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. The defendants bet the house that they could continue their scheme, and they lost."

At least $3 billion in civil money laundering penalties from both the poker companies and defendants is being sought after. According to the indictment, Campos and Elie were arrested Friday morning in Utah and Las Vegas, Nevada, respectively. Franzen is expected to appear in court for his arraignment on April 19, 2011. Those who are not in the United States, Scheinberg, Bitar, Burtnick, Tate, Tom, Beckley, Rubin, and Lang, have not been arrested, but the U.S. Attorney's Office in the Southern District of New York is working with foreign law enforcement agencies and Interpol to arrest the defendants.

PokerNews has attempted to contact all three online poker sites, and thus far, only UB/AP has replied, and has no comment at this time.

US DOJ Press release:

http://www.justice.gov/usao/nys/pres...dictmentpr.pdf

http://www.justice.gov/usao/nys/pressreleases/April11/scheinbergetalindictmentpr.pdf

 

[crumbs]

wonder on what basis.

 

[crumbs]

wonder on what basis.

 

[in yo nostril]

what happens to the money that people had in their accounts?

 

[in yo nostril]

what happens to the money that people had in their accounts?

 

[wheaties]

lol they aint gettin that money back. That was probably part of the plan for the government to take all that money.

 

[wheaties]

lol they aint gettin that money back. That was probably part of the plan for the government to take all that money.

 

[ohyeah10]

oh shhh! my mom always puts money on that site

 

[ohyeah10]

oh shhh! my mom always puts money on that site

 

[kingtre]

Originally Posted by Crumbs

wonder on what basis.

theres alot more detail in the press release but basically:

UIGEA violation
operating an illegal gambling business
conspiracy to commit wire fraud
money laundering

this was bound to happen- theres is gonna be a power play soon to get this legalized and taxed...right now they cant stand to see all of this money being raked in and they are not getting a cut...online poker will obviously be back - but the US Gov will be seeing it's cut

what happens to the money that people had in their accounts?

as of now the clients are still up and running...the seizure of the processors has happened plenty of times before and they usually find new ones and keep it moving-  there are a bunch of bank accounts and processors listed in this so we'll see

theres def a mad dash to withdraw right now so that wont help

 

[kingtre]

Originally Posted by Crumbs

wonder on what basis.

theres alot more detail in the press release but basically:

UIGEA violation
operating an illegal gambling business
conspiracy to commit wire fraud
money laundering

this was bound to happen- theres is gonna be a power play soon to get this legalized and taxed...right now they cant stand to see all of this money being raked in and they are not getting a cut...online poker will obviously be back - but the US Gov will be seeing it's cut

what happens to the money that people had in their accounts?

as of now the clients are still up and running...the seizure of the processors has happened plenty of times before and they usually find new ones and keep it moving-  there are a bunch of bank accounts and processors listed in this so we'll see

theres def a mad dash to withdraw right now so that wont help

 

[freakazoid]

I was going to hop back on the other day too.

I will stick to my cash games around here

 

[freakazoid]

I was going to hop back on the other day too.

I will stick to my cash games around here

 

[Bert.]

that sucks

 

[Bert.]

that sucks

 

[kingtre]

looks like its reaching the clients now...a bunch of people are reporting this message when trying to play on pokerstars

Tournament Registration:
We are sorry but, due to government regulations, playing real money tournaments is not allowed in your area.

 

[kingtre]

looks like its reaching the clients now...a bunch of people are reporting this message when trying to play on pokerstars

Tournament Registration:
We are sorry but, due to government regulations, playing real money tournaments is not allowed in your area.

 

[Deleted member 37467]

This is absolute %!%@$%@+. 

 

[Deleted member 37467]

This is absolute %!%@$%@+. 

 

[proshares]

Originally Posted by In Yo Nostril

what happens to the money that people had in their accounts?

I would imagine the same thing that happens if the police raid an illegal poker club, which means you chalk that up as a loss

.
  

 

[proshares]

Originally Posted by In Yo Nostril

what happens to the money that people had in their accounts?

I would imagine the same thing that happens if the police raid an illegal poker club, which means you chalk that up as a loss

.
  

 

[pip777]

Damn

 

[pip777]

Damn

 

[usainboltisfast]

a lot of people will be mad.