On June 10 2009 08:04 PandaSaurus wrote:
Is this affecting other countries or just US?
As in, if I cashout and the money has to go through a US bank first, will it get held up?
it's only US
Im not sure what to do tomorrow when I see her, should I shake her hand?? -Floofy
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ToTehEastSide United States. Jun 10 2009 11:17. Posts 1337
fighting for peace is like fucking for virginity
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ToTehEastSide United States. Jun 10 2009 11:19. Posts 1337
all bluff? I think u misread Twisted
On June 09 2009 23:57 Stim_Abuser wrote:
An advocacy group for online poker said Tuesday that the federal government has frozen more than $30 million in the accounts of payment processors that handle the winnings of thousands of online poker players.
land of the free baby
Uncle Sam = Father Sam and daddy wants his piece
ToTehEastSide United States. Jun 10 2009 13:17. Posts 1337
was this not in that article when u read it Stim? This is key
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In a letter dated Friday and faxed to Alliance Bank, the prosecutor said accounts held by payment processor Allied Systems Inc. are subject to seizure and forfeiture “because they constitute property involved in money laundering transactions and illegal gambling offenses.” The letter was signed by Arlo Devlin-Brown, assistant U.S. attorney for the Southern District of New York.
In another letter faxed the same day, Devlin-Brown asks that the bank treat the funds “as legally seized” by the FBI, saying that the government has probable cause that the gambling payments of U.S. residents had been directed to offshore illegal Internet gambling businesses.
“The FBI has authority to seize proceeds of specified unlawful activity without a warrant under exigent circumstances,” wrote Devlin-Brown — a process criticized by the Poker Players Alliance.
In addition, a grand jury subpoena issued last week to Allied Systems seeks communications, financial transactions and processing services between the company and Internet gambling operations. The subpoenas also seek corporate records and bank accounts."
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another decent article
I'll post the good parts then I'm going to find out about my $1200 echeck w/ Stars
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The seizures relate to payments believed to total at least $33m belonging to upwards of 24,000 players at sites including PokerStars.com and FullTiltPoker.com, and are focused on the accounts operated by third party payment processors that handle eCheck instant payments on behalf of the poker sites.
Because of restrictions applying to the major credit card issuers, eChecks are known to be one of the few remaining ways in which online poker sites have been able to successfully repay player winnings electronically.
Stephen Cohen, a spokesman at Citibank, a unit of Citigroup confirmed to the New York Times that the bank had received a request from prosecutors. He said that, as a matter of policy, Citibank complies with such requests.
Two processors, Allied Systems and Account Services, are known to have been targets of the seizures and others may be affected.
The seizure of money belonging to poker players, as opposed to the money of the companies involved, falls into a legal grey area.
Joe Kelly, professor of business law at Buffalo College, New York, told GamblingCompliance that it was widely held that the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA) “covered only payments made by players to the casino. "Payments that are made by the casino to players are exempted,” Professor Kelly suggested.
The 1961 Wire Act, which has been used as a legal weapon before by the Southern District, is thought to apply specifically to sports betting and has never been tested on other types of online gambling activities.
Nevertheless, this week’s developments mark a radical escalation of the campaign by the Southern District of New York’s prosecutors against online gambling businesses and signal the first time that they have turned their attention to poker rather than sports betting.
The Southern District is known to be particularly aggressive in pursuing online gambling prosecutions, beginning with the arrest and subsequent prosecution of Jay Cohen, the operator of Antigua-based World Sports Exchange.
Subsequently, the district has been involved in recent cases or settlements involving payment processor Neteller, and PartyGamings’s co-founder Anurag Dikshit, each of which involved a settlement of over $100 million.
A. Jeff Ifrah, a lawyer representing Account Services, which has offices in San Diego and Canada, told the New York Times that, to his knowledge, the government “has never seized an account that belongs to players who are engaged in what I would contend is a lawful act of playing peer-to-peer poker online.”
fighting for peace is like fucking for virginity
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NewbSaibot United States. Jun 10 2009 14:21. Posts 4955
I wonder what the feasibility in opening an off-shore bank account to handle these transactions would be. Anyone know if a US citizen can open up an account in the central bank of London or something and just wire transfer their own funds back to the states?
bye now
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NewbSaibot United States. Jun 10 2009 15:03. Posts 4955
I wouldnt be too concerned anyway. Look at the sum of money we're talking about here. Theres no way stars and ftp and any others are interested in losing 30 million dollars worth of business, and that is just current funds. We all know how many hundreds of millions of dollars they make running these operations, they're not about to abandon this business.
bye now
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CrownRoyal United States. Jun 10 2009 15:13. Posts 11386
god dammit.
i pay taxes just like everyone else, get off my fucking back.
WHAT IS THIS
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newbie.cjb United States. Jun 10 2009 15:14. Posts 3096
good bye online poker
my lose is a win. my wins are nothing.
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ToTehEastSide United States. Jun 10 2009 15:19. Posts 1337
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