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Texas Online Poker Payment Processor Agrees to Forfeit $6m

Written by:

Aaron Goldstein

Published on:

Jul/12/2012

Texas Online Poker Payment Processor Agrees to Forfeit $6m

A Texas-based online poker payment processor indicted April 15, 2011 has agreed to forfeit $5 million.

LST Financial of San Antonio and managing director Gregory Colton also promised "not to knowingly provide, either directly or indirectly, payment processing services for Internet gambling, including Internet poker”.

The company claims it was duped into processing the payments by three online poker rooms that were also charged at the time, including PokerStars, Full Tilt Poker and UB.com.

"LST is gratified that the government agreed to return assets unrelated to the PokerStars activities," said Michael Bachner, a lawyer for LST Financial.

- Aaron Goldstein, Gambling911.com

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