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Originally Posted by $taybuffMM
This lawsuit has nothing to do with poker and everything to do with financial regulations. The indictment (suggest you all read) may charge them with operating an illegal gambling enterprise but thats just the frame. The real charges (the ones with 20 year and 30 year sentences and fines of 1,000,000 or double the gross (7 billion?)) are about financial regulations and how they bought a bank, paid off the bank manager to violate the UIGEA, then bragged about it, ad were going to buy 3 or 4 more. They dared the Govt to go after them. I love poker, been playing holdem for 16 years, online for 9, these guys were idiots and we will in the end get a better service, because the marketplace demands it. PLEASE DONT WRITE YOUR CONGRESSMAN, OR TRY TO SUE THE DOJ. iF YOU WANT RESPECT, DO NOT COME TO THE AID OF ******ED BUSINESSMEN WHO CUT AND DRY BROKE THE LAW. PRESENT A RESPECTFUL FRONT, NOT ONE WITH NO STANDING. They arent after us, people are going to get paid, we will get online poker in the next 3 years, thats that. Read and be educated. dont just say "Oh no poker, f*&^ the DOJ, F*&^ our govt. Our govt is right about this we just dont like it. you cant process gambling proceeds as jewelry and golf balls, just stupid. (yes they did that. ) And yes it violates financial disclosure laws.
I can legally send you money and say its for golf balls even if it isn't. I have no obligation to disclosure other than not transferring money in defiance of the UIGEA (for purposes of ILLEGAL gambling). PS & FT are going to argue they are not in violation of the UIGEA and they no doubt have some very high priced lawyers who think likewise. If poker is not illegal gambling there is no violation.
This from
http://jhub3000.livejournal.com/90426.html
Thoughts from Free Phil Ivey:
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So long as Full Tilt and Pokerstars don't freak out they will prevail in court. The government has to prove these charges. Legal precedent is not on their side. The govt.'s case seems entirely circumstantial and appears built around the suspicious behavior of the sites interactions with processors.
The government will argue that PS and FT acted suspiciously and thus must have known that their conduct was illegal. That will not hold water in court, however, because FT and PS will attack the heart of the law and argue that online poker simply is not prohibited under any federal statute and therefore their suspicious activities with payment processors is utterly irrelevant.
The government is basically prosecuting a "thought crime" (PS and FT acted as if they knew what they were doing was illegal therefore it "was" illegal"). That is not how our legal system works. Even if you "think" you are committing a crime - no crime is committed if what you did actually was not a crime in the first place.