..

Online Poker Indictments – Full Tilt Poker, PokerStars, UB.com – Latest News

Written by:
Ace King
Published on:
Apr/19/2011
Online Poker Indictments

Here are some late developments (Tuesday, April 19, 2011) related to Friday’s indictment of Full Tilt Poker, PokerStars and UB.com.  All related domain names were seized by the US Justice Department.  The three companies adopted .EU extensions and have stopped accepting new customers from the US.  All three are unable to pay out US customers at the current time following this action.  Players await word on the status of their payouts. 

The New York Times overnight featured an article drawing attention to funds coming into both the Poker Players Alliance and political campaigns, noting that a significant chunk of monies going towards the PPA were paid out by Full Tilt Poker and perhaps the other Internet card rooms.  While this may be an error on the Times part, they quote indicted Full Tilt CEO Raymond Bitar as representing the PPA or plays an integral role in running the PPA.  This is something a portion of the poker community  has been outspoken about in recent years, pointing to potential conflicts of interests that have served to stymie their efforts. 

From the Times:

One of the executives indicted, Raymond Bitar, 39, of California and Ireland, is a contributor to the Players Alliance Political Action Committee, donating about $15,000 of the $200,000 the committee has given to members of Congress in the last four years, with Mr. Frank collecting the biggest amounts.  But most of the money the committee gives to politicians here comes from individuals not cited in the indictment.

"It is the 1.2 million members who live and vote in congressional districts across the country,” said Mr. Bitar, who confirmed that more than half of his organization's budget is supported by industry companies, including those indicted Friday. But the push in Washington, and much of the fund-raising, is coordinated by Poker Players Alliance, which relies in large part on contributions from the Internet-based operators. The organization spent $1.6 million lobbying last year, using nine lobbying firms, and lobbyists like ncluding former Representative Jon Porter, Republican of Nevada, and Mr. D'Amato.

Some members of the TwoPlusTwo.com posting forum suggest a “new” alliance is in order that focuses more on the poker playing community’s interests.

We need a new alliance for poker players. If the PPA isn't willing to change its direction, then we need a whole new organization. I understand their hesitance to severe ties with Full Tilt and Pokerstars as these two sites have been fighting with the PPA for our rights to play online poker, but it is now obvious those two sites are toxic to the cause and attempts to regulate at the federal level are seemingly futile.

 

Minyanville points out the broader implications of Friday’s busts….

 

Busted: Last week’s surprise FBI raid on online poker sites netted only 11 arrests of the owners of three sites. But it seems that the abrupt disappearance of Full Tilt Poker, Absolute Poker and PokerStars is having broader implications. A whole industry had grown up around online poker, according to The Wall Street Journal. Celebrity players, bloggers, personal poker coaches and television shows all are out of business overnight, not to mention many under-employed people who made poker a Sunday second job.

 

Nevada Bill to Legalize Internet Poker likely to Still be pushed Through

 

Despite being backed by one of the online poker rooms indicted on Friday, PokerStars, a bill to legalize Web card rooms in the state of Nevada is likely to be sent to the Governor’s desk regardless.

Steve Sebulius of the Las Vegas Review Journal:

In any other state, Assembly Bill 258 -- which would legalize Internet poker in Nevada -- would be dead and buried.

That's what happens when the company pushing a piece of legislation gets indicted for money laundering, bank fraud and illegal gambling, after having treated the chief sponsor of the legislation to a trip to London and spread around nearly $300,000 in campaign contributions that are not only the possible fruits of a criminal enterprise, but may also be illegal donations from foreign nationals.

But this is Nevada, so not only is the bill alive, it's probably headed for the governor's desk. Why? Despite the bill's ignoble provenance, it may ultimately benefit the members of the Nevada Resort Association, which is pushing for its passage.

Ace King, Gambling911.com

Follow breaking headlines around the clock at Gambling911.com Twitter Here

Gambling News

Gambling and Sports Betting News April 4, 2020: TVG Horse Racing Network Seizing the Moment Amidst Pandemic

A handful of U.S. tracks have soldiered on through the pandemic, closing their gates to fans and running strictly for a TV and simulcast audience. TVG is providing a bit of balm for two bereft populations — people who watch sports, and people who bet on them — by continuing to show races on its cable channel and offering wagering via its website. Fox’s FS1 and FS2 networks also are airing some live horse racing.

SC Prosecutors: Deputy Took Bribes to Protect Gamblers

SC Prosecutors: Deputy Took Bribes to Protect Gamblers

A deputy in South Carolina took money from illegal gamblers for five years to protect them from the law and kept feeding them information after the payments stopped, authorities said.

Generate a Great Profit for Your Bookie Biz

Generate a Great Profit for Your Bookie Biz

Bookies, you must be generating a profit per head and we want to show you the best way to do so. You are in this business to earn a fantastic income and there is no reason you shouldn’t be doing exactly that. Now is the perfect time to start earning profits where you may not realize you can earn them.

MGM Springfield Taken For $30k By Brazen Cheat

MGM Springfield Taken For $30k By Brazen Cheat

The MGM hotel and casino in Springfield, Massachusetts is suing an individual for allegedly engaging in one of the oldest cheats in the books.

Bitcoin Gambling News: Bitcoin Shoots Past $7K Mark as Investors Search for Stability

Here you will find all the latest news pertaining to Bitcoin and the world of online gambling.

Syndicate