FBI seizes PokerStars, Full Tilt, and Absolute domains, arrests executives

UPDATES

FBI Cracks Down on Internet Gambling Companies – ABC (With Video) (April 16, 2011) – http://abcnews.go.com/Technology/internet-gambling-companies-indicted-fraud-money-laundering/story?id=13389751
DOJ Indictment Press Release (April 15, 2011) – http://www.justice.gov/usao/nys/pres…dictmentpr.pdf
DOJ Indictment (April 15, 2011) – Indictment: DOJ vs. Scheinberg, Bitar, Tom, et al
Wynn/PokerStars and Full Tilt/Fertitta Interactive Deal is Over (April 15, 2011) – Poker Websites Targeted in Federal Crackdown – WSJ.com and Steve Wynn Cuts Ties With Embattled Online Poker Site, PokerStars – Steven Bertoni – Money Talks – Forbes
3 online poker houses face fraud charges in NYC – CBS (April 15, 2011) – http://www.cbsnews.com/stories/2011/04/15/business/main20054403.shtml?tag=stack
Online poker companies indicted for fraud – CNN (April 15, 2011) – http://money.cnn.com/2011/04/15/news/economy/online_poker_indictments/index.htm?hpt=T2
Full Tilt’s Announcement About Pulling out of US (April 15, 2011) – Full Tilt Poker Statement – Pulling Out of US Market
Full Tilt’s Statement Regarding Withdrawals (April 15, 2011) – http://www.fulltiltpoker.com/officia…er-withdrawals

In light of recent events involving the freezing of certain accounts, Full Tilt Poker would like to assure all players that their funds remain safe and secure. Processing of both deposit and withdrawal requests is proceeding as normal and is still available to all of our players.

All players who were affected by the current situation have had their funds returned to their accounts and all new withdrawal requests are processing normally. We assure all players on Full Tilt Poker that your online playing experience will not change and that you will be able to both deposit and withdraw funds as needed. Your money remains safe, secure and accessible at all times.

Full Tilt Poker remains committed to the protection of our players’ security and legal rights, and will continue to provide the best and safest online poker room available worldwide.

PokerStarsSteve replies on 2p2 (April 15, 2011) – http://forumserver.twoplustwo.com/sh…&postcount=564

As you may have heard, PokerStars has had to suspend real money poker services to people based in the US due to legal developments there. These developments are confined to the US and do not have any impact on the ability of players outside the US to continue using PokerStars services.

Please be assured player balances are safe. There is no cause for concern about loss of funds in your PokerStars account. For all customers outside the US it is business as usual.

The PokerStars website has been moved to Online Poker Games | Play for Free Texas Holdem | PokerStars, and the PokerStars Support email address is now [email protected]. PokerStars apologises to all players for any inconvenience caused by this disruption.

Please be aware that PokerStars Support is currently experiencing a very high volume of emails, so response times are delayed. Player emails will be answered as quickly as possible.

It is understood that many players, especially those from the US, may have additional questions or concerns about these changes, account status, and cashouts. The information above is all the information available at this time. PokerStars management and legal team continues to review the situation and will provide additional information it becomes available.

As there is no additional information available to pass on, I will not be answering follow-up questions at this time. Thank you for your patience and understanding in this matter.

Live QuadJacks USTREAM show talking about the issues (Day 2) – QuadJacks Black Friday on USTREAM: QuadJacks and friends reflect upon the current state of online poker in America, after the clusterfuck that befell it on…
Fight Back Thread on 2p2 – http://forumserver.twoplustwo.com/57/poker-legislation/official-time-fight-back-thread-1021812/

UIGEA and IGPEA Bills (for reference) – Bill Text – 109th Congress (2005-2006) – THOMAS (Library of Congress)
What the Pros Are Saying on Twitter: https://www.flopturnriver.com/poker-players-twitter.php

More updates and discussion can be found in this thread in the FTR Community.

The founders of the largest online poker sites in the world, PokerStars, Full Tilt Poker, and Absolute Poker, have been indicted by the FBI today. In a shocking and disastrous turn of events, the indictment was unsealed today in a Manhattan court. Two of the executives have been arrested, and FBI is searching for the remaining executives out of eleven total.

The indictment includes charges of bank fraud and money laundering. The FBI has seized the domain names for all three websites, with notices stating, “Conducting, financing, managing, supervising, directing, or owning all or part of an illegal gambling business.” The prosecutors are planning to recover $3 billion from the businesses.

Online poker is a worldwide industry, with an estimated 15 million Americans involved. In 2006, Congress made online gambling illegal, but companies such as these have worked around this through the use of foreign banks.

Preet Bharara, a U.S. attorney in Manhattan, said, “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.” Bharara continued, “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.”

Federal authorities have also issued restraining orders to 76 bank accounts in 14 countries, allegedly a part of the poker companies’ networks

FBI seizes PokerStars, Full Tilt, and Absolute domains, arrests executives

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