Everywhere I go its talking about American players and if they'll get reimbursed or paid back. What about Canadian players?

Seriously. It's utterly insane how these guys have insulated themselves from the law in such a high profile situation

might be old news,
but
ub.com
and
absolutepoker.com

dont even exist any more.

FML

yes, very old... they switched to .eu i believe

I thought they still came up with the DOJ blazen shield icon and stuff for awhile

They made a deal with DOJ to get the .com domains back to facilitate repaying players (as did PS and FTP). Since that is never going to happen, Cereus just took the site down.

Poker scout says cereus has 24 ppl currently Playing. Do those 24 ppl have down syndrome or is that a mistake? Better yet, is there still a deposit option on the site?

my dad still plays on there occasionally (he has a couple of hundred bucks on there he knows he's not getting and doesn't want to deposit elsewhere). there's a couple of 2/4c tables and sometimes 5/10c running. he was on there last week and told me there was a player from canada asking why the site seemed a lot more quiet nowadays...

so... i havent even checked on absolute poker news since i assumed my money is gone but whats up anyway? any chance of us getting money back? I am willing to form a group to file a lawsuit if that will even help?

i have about 35,000 stuck there.

Has anyone of the francocanadians(if I recall they where quite some) tried to contact a lawyer in the montreal area and see if we got a chance going against the KGC?

yea I have 40ish stuck there but who are we going to get our money from? the owners ran with the money and unless we can find them the company owes more money then it has

Does anyone here actually blame Cereus for this? Honestly? You can say whatever you want about the company, the sketchy reputation, etc. but the site moved past that IMO. I'll say this: I played on the site for 8 years and I never once had trouble getting money off of it. In fact, they often honored special requests allowing me to withdraw above their standard limits. In those eight years I've never heard any honest player have trouble getting money off the site, either.

I blame the US Government and no one but the US Government for us losing the money. They seized an amount of money which they won't even disclose, they keep us in complete darkness, and nine months later, we haven't seen a penny. I've always been a Ron Paul fan, but after Black Friday it really hit me hard that our country needs a fundamental change or revolution. This is just absolutely unacceptable, there's no reason we as poker players (especially those of us who are American) should stand for it. It's just truly disgusting.

You're angry at the DOJ now. Just wait until another year goes by and we get paid like 5 cents on the dollar, scott tom walks, and the DOJ spins this so they look like our glorious saviours to the general public. Oh, as for not standing for it, that sounds nice and all but the DOJ can do whatever the **** they want.

+1

completely agree Onett.

We don't know how much was seized from Cereus on BF, but $40Mish was seized from FTP on BF and FTP owes about 5x as much to US players.

So, it seems fairly safe to assume that the amount seized from Cereus on BF is between, say, $5M and $15M. That's way lower than the amount by which they're illiquid, which is over $50M.

The information is much less clear about Cereus than FTP, but IMHO most evidence suggests that they would've gone broke even if the DOJ had not acted on Black Friday.

While Onett certainly makes some good points, it is certain that AP/UB did not have the cash on hand to cover a run on the bank. The money the DOJ took was a nice chunk, but the funds were not segregated and not all there. It just took the DOJ to expose that. This was going to happen eventually, regardless of what the DOJ did. They just sped it up.

It was a fraud that had a history of lying, cheating and stealing. The fact that they had timely cashouts before Black Friday is not really relevant. They failed to keep enough cash on hand and lied about who was running the company. Being able to keep the cashouts afloat with depositing dollars is irrelevant.

They didn't just have a history of lying, cheating, and stealing. Those quite literally appear to have been the main tenets of their business model from the beginning.

maybe i don't know what i'm talking about, but is there a bank in america that has enough cash on hand to cover a run?

it's a wonderful life...(fk you doj) (you too cereus) (you too annie duke)

1) Banks pay you interest or provide you with services (e.g. a checking account with checks and a debit card) in exchange for the right to invest your money. Poker sites do not behave like this.

2) Banks in America are insured by the FDIC, so in many instances consumers take no risk at all by depositing their money in a bank.

3) Banks are required to have assets much higher than liabilities. While those assets aren't typically liquid, the vast majority of American banks could repay a full run on the bank if they were given a month or so to liquidate.

the doj is merely enforcing laws that your elected officials enacted. Your anger is misdirected.

Poker sites aren't banks, and there is a poker site that could handle a run and did handle the DOJ seizing their money and shutting them down.

If PokerStars hadn't survived, I'd be driving the "blame the DOJ" bandwagon, but account seizures were an anticipated cost of doing business in the US even before the UIGEA.

Black Friday should have been a huge financial hit to FTP and UB, caused by the DOJ, just as it was to Stars. Instead, it was a huge financial hit to the players.

We can blame the DOJ for the fact that serving poker in the US was the business equivalent to playing craps, but all three companies lost, the difference is that two were playing with our money.

I was replying to someone else, I'm not that angry at the DOJ yet. I'll be really angry if someone (scott tom) doesn't end up doing serious prison time for screwing all of us but I won't we surpised at all if he doesn't. And I don't consider brent beckley's 12 month vacation adequate.

Yes, I honestly blame Cereus for this. IMO they didn't move past that, they simply employed Joe Sebok to keep bull****ting whilst retaining the same people in charge.

I'm sure Cereus themselves can disclose what the DoJ seized, but they chose to do nothing. The point about them being highly likely to have never had sufficient funds on hand to repay players in the first place has been dealt with above.

UB/AP could easily handle a run on the bank... but why the **** would they?

They were looting the money for years, but never woulda killed off their business had BF not happened.
Saying they were going busto is kinda lol. Facts pleaaaaaaase

Payout speeds were incredible; for about 25$, you could get 3.5k/check at your door in just under 48 hours if you timed it right.
A 3.5k check for free would take 7-10 days standard mail.

But BF did happen, they had a shady past, minimized their losses and ran since they have zero potential of renentering US market.

gg AP/UB cant blame ya, enjoy my 20k