Saturday, 16 April 2011

Online Poker

Online Poker
The three largest online poker websites in the United States was busted by Federal authorities on Friday for charges of bank fraud and illegal gambling against 11 people. The poker websites were also accused of manipulating banks to process billions in illegal revenue the Associated Press reports.

The three famous poker websites involved are: PokerStars, Full Tilt Poker and Absolute Poker.

According to the Associated Press the indictment seeks $3 million in money laundering penalties.

“Unfortunately, as a result of this action, Full Tilt Poker has decided that it must suspend “real money” play in the United States until this case is resolved,” said Full Tilt Poker CEO Raymond Bitar in a statement. “However, Full Tilt Poker will continue to provide peer-to-peer online poker services outside of the United States.”

The Full Tilt Poker’s website is blocked, however, in the United States. A warning message appeared from the FBI explaining that the domain name has been seized. The warning from the FBI says: “Conducting, financing, managing, supervising, directing, or owning all or part of an illegal gambling business is a federal crime.” The same warning message appeared on PokerStars website, but not Absolute Poker.

Congress passed a law in 2006 prohibiting online gambling. But most online gambling websites got around the law by using foreign banks according to Lotter Post.

In Bitar’s statement he says he is looking forward to his “exoneration.”

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