Open Side Menu Go to the Top
Register
Reuters: Full Tilt Poker, Pokerstars and Absolute Poker charged with illegal gambling Reuters: Full Tilt Poker, Pokerstars and Absolute Poker charged with illegal gambling

04-18-2011 , 04:47 PM
Quote:
Originally Posted by SuckedOUt1
Why are the usa cutting themselves out of a $4.3 billion dollar industry. If you watched the social network you would recognise the quote 'its about getting there first'. America got their first and ruled the poker world at one stage. Now you have effectively handed power over to the europeans. You cant just step in and out of an industry and expect to be market dominators. The russians are about to take over.

First of all, anyone who references that film is a douchebag, now that we've cleared that up:
If you knew what you are talking about, America are not cutting themselves out of the market, quite the opposite probably as they are manoeuvring themselves into a position where they own the entire market as they are most likely going to monopolise the market in the not so distant future with a one-size fits all poker/gaming/betting site that is fully legalised/fully taxed and fully raked the **** out of all in the pockets of the US gov. = profit for US government.
04-18-2011 , 04:48 PM
Quote:
Originally Posted by SuckedOUt1
Why are the usa cutting themselves out of a $4.3 billion dollar industry. If you watched the social network you would recognise the quote 'its about getting there first'. America got their first and ruled the poker world at one stage. Now you have effectively handed power over to the europeans. You cant just step in and out of an industry and expect to be market dominators. The russians are about to take over.
I somehow don't think that one of the biggest governments in the world needs to take economic advice from a movie about facebook.
04-18-2011 , 04:48 PM
Quote:
Originally Posted by Quagmyer
lol@ gambling and play money in same sentance
lol @ your spelling of sentence.
04-18-2011 , 04:50 PM
lmao calling the doj and white house and pretending to be super confused and messing with them..they say they have been getting a lot of phone calls....

hello
is this the poker hotline?
um no this is the DOJ
oh can u transfer me to the deposits dept, im in the middle of a tourney on absolute poker and had a quick question

so ur telling me if i come down to ur office, u will give me my $?
no i never said that sir

oh so this was the main purpose of the safe port act? i was just at the port the other day, felt so safe. gotta love america and how the govt gets things done. u sure work for some good people. are u hiring?

click
04-18-2011 , 04:51 PM
HOW THE **** MUCH LONGER UNTIL WE KNOW WHEN WE GET OUR MONEY!!!!!!!!!????!!
04-18-2011 , 04:53 PM
A big question is whether those "restraining orders" against foreign bank accounts work or if they are symoblic gesture.

If it worked, surely we would hear some chest-pounding from the DOJ on the amount seized. There were a ton of foreign bank accounts all over the place and I'd be curious if the banks just handed the money over to the DOJ or what exactly
04-18-2011 , 04:54 PM
I'm not quite sure why my post got deleted, but here goes again.

www. fulltiltpoker .co .uk

Download the program again here after you've removed the original.

No update is required and US players will be able to go online for PLAY money.

Alex, UK
04-18-2011 , 04:54 PM
Quote:
Originally Posted by bubonicplay
HOW THE **** MUCH LONGER UNTIL WE KNOW WHEN WE GET OUR MONEY!!!!!!!!!????!!
Yep, you're at stage 2 - anger. I feel myself moving there from denial too. Next up - bargaining, depression and then eventually acceptance.

Or perhaps we get our money.
04-18-2011 , 04:55 PM
hey, i just quickly wanted to chime in re the frozen international accounts;

i work for a swiss bank, and it´s pretty easy for US agencies to freeze accounts in switzerland. It´s terribly hard to get the monies though , unless the account holder complies.

Also, unlike the UBS case, this has nothing to do with famous swiss bank secrecy, afaik the regulation in this is pretty similar all over western europe
04-18-2011 , 04:56 PM
Quote:
Originally Posted by Schadenfred
I think PartyPoker would be well-placed for re-entry. Heck, I'm thinking about putting some money into their public umbrella company, Partygaming (ticker symbol: PYGMF). It's a low-volume pink sheet, but there was a 10% jump with a volume surge during the last trading hour.
Partygaming (PYGMF) finished at $2.99 for a 30% jump.
04-18-2011 , 04:57 PM
Quote:
Originally Posted by scandilous
someone should go check out if there were a lot of put options sold on PS FTP AP stock the days before the bust to indicate inside trading
They would have to be publicly traded, which they are not.
04-18-2011 , 04:59 PM
Quote:
Originally Posted by bubonicplay
HOW THE **** MUCH LONGER UNTIL WE KNOW WHEN WE GET OUR MONEY!!!!!!!!!????!!

Not until a judge decides. As of right now the money belongs to the US government until they decide to keep it or return it.

I wouldn't expect to see a dime before early to mid 2012.
04-18-2011 , 05:00 PM
Quote:
Originally Posted by stampler
so what are you saying?
what is nonsense??

poker sites fined 3 billion;
wahovia fined 150 million

all they did was launder 370 BILLION in drug money.

I'm not saying that they were running an online gambling operation while falsifying transfers.

I'm saying that their crime was much worse, and the punishment was much less.
do you think running finances for 1000s of tons of illegal coke is no biggie??

you do'nt you think that has something to do w/ conflicts of interest and corruption on a higher level??
America needs to launder that drug $.
gotta feed the monkey.

my point is that money laundering is ok, if your in the 'club',
and the article proves it.
why did'nt they seize the entire 370 billion?
You didn't read the Article. It is a terribly written piece and very difficult to separate out fact from opinion from outright Demagoguery. But essentially what happened was Wachovia Processed Billions of Dollars from Currency Exchange Businesses. Only $110 Million of it was proven to be Drug Proceeds. That Sum was forfeited and an additional $50 Million was paid in Fines. The article tries to imply that all of the Billions was Drug Money, but it doesn’t appear that has been proven.

There was an internal “Whistleblower” who identified some of the fraudulent transactions. It is sort of difficult to construct a time line from the Article. Even that whistleblower concludes that it was a failure of process and controls or “governance”.

"What happened at Wachovia was symptomatic of the failure of the entire regulatory system to apply the kind of proper governance and adequate risk management which would have prevented not just the laundering of blood money, but the global crisis."

So basically the Bank failed to recognize Money Laundering transactions, but didn’t set up a criminal enterprise with the explicit intention to bypass money laundering laws and then they “cooperated fully” with investigators.
04-18-2011 , 05:00 PM
Quote:
Originally Posted by Jetto
after all this UB is still active.

such ****. and I cant still install this FTP update.
I had to uninstall full tilt and then download again from fulltiltpoker.eu
04-18-2011 , 05:01 PM
News articles are not usually the most correct when online at a random site... be careful what you read.
04-18-2011 , 05:04 PM
Quote:
Originally Posted by two2brains
Not until a judge decides. As of right now the money belongs to the US government until they decide to keep it or return it.
That's funny, because you don't have a clue which accounts DOJ actually has frozen and what, if any significant, amount was held there.

Once again, for you:

Quote:
during Pokerstars' licensing requirements in the Isle of Man, it was stipulated that all player funds be placed in trust accounts that cannot be seized by any authority other than the listed trustee
04-18-2011 , 05:09 PM
Quote:
Originally Posted by M-Theorist
That's funny, because you don't have a clue which accounts DOJ actually has frozen and what, if any significant, amount was held there.

Once again, for you:

They froze 76 US based processing bank accounts so I am pretty sure the seperate players account funds were in transit and were seized for players attempting deposits/withdrawals
04-18-2011 , 05:13 PM
Quote:
Originally Posted by scandilous
someone should go check out if there were a lot of put options sold on PS FTP AP stock the days before the bust to indicate inside trading
L.O.L.

1) they'd have to be publicly traded companies first
2) they'd have to have listed options second (not all listed companies have options)
3) if you want to profit from a downswing, you buy puts, you don't sell them. (yes, all option trades are two sided. But *if* you knew the indictments were coming, you'd be the guy buying the puts).
04-18-2011 , 05:13 PM
Quote:
Originally Posted by SuckedOUt1
The russians are about to take over.
be interesting to see if any of the european companies get their act together in time and provide a rival high qualty software / good rakeback program that matches Stars/FTP and would entice new players to stay on the site even after after the inevitable relaxing of restrictions, ect. I mean after playing on a few euro sites in the last few days i wonder how much it can cost to create a really slick user friendly poker client, since everything i have played has been B-grade to say the least.

Certainly there is a gap in the market at this point in time - i wonder if it is the programming costs that prevents companies like i-poker from churning out a product that doesnt feel like its designed by a 16 yr old IT student for his A-level school project.

Maybe someone like the Russian billionaire Roman Abramovich could jump in, he also has an interest in the game so i'm sure he is aware of this situation. (he was one of the biggest fish on FTP ever lol) http://www.pokertableratings.com/sta...earch/scout326

either way thats just chump change to him, but the potential profit from creating a good quality rival poker company sure wouldnt be
04-18-2011 , 05:14 PM
Quote:
Originally Posted by irajfritziii
I had to uninstall full tilt and then download again from fulltiltpoker.eu
What he said. .co.uk or .eu

REDOWNLOAD THE PROGRAM
04-18-2011 , 05:14 PM
I just want to say this screwing with the DOJ or other Government offices is a bad idea and it is just going to make us look like a bunch of immature degenerates.

I know many of you are very intelligent you have to be to be good at poker take a nap or whatever clear your head a bit then contact your officials for your area the DOJ or whoever you think can help the situation for us American players but do so in an intelligent manner.

Prank calling, making stupid threats, attacking the DOJ's facebook ect just for the lulz is a bad idea and won't help our cause at all.
04-18-2011 , 05:14 PM
I will have to go back to playing poker with my dog's. when they wag thier tails they have the nuts.

PS: May boofy be with you!
04-18-2011 , 05:16 PM
Quote:
Originally Posted by ml02kr
o and FYI anyone who wants to move to europe, it is almost impossible, unless u get married, go to school, or live their illegally. It is almost like trying to move to the US.
Depending on your ethnic heritage not that impossible. Every country has different laws on dual citizenship and they are worth looking into if you're contemplating a move.

For instance... my great grandfather on my mothers side never naturalized (took the oath of allegiance) when he came here from Italy and by law i can qualify to become an Italian citizen. I believe it's called "Jus sanguinis" (here's a wiki http://en.wikipedia.org/wiki/Jus_sanguinis). My cousin looked into it because she was thinking of taking a job in London,

I have another friend who has Irish citizenship and works for RBS in London because of "The Nationality and Citizenship Act" also covered in the above wiki under lex sanguinis.
04-18-2011 , 05:19 PM
Quote:
Originally Posted by MoniesRemovalPLC
be interesting to see if any of the european companies get their act together in time and provide a rival high qualty software / good rakeback program that matches Stars/FTP and would entice new players to stay on the site even after after the inevitable relaxing of restrictions, ect. I mean after playing on a few euro sites in the last few days i wonder how much it can cost to create a really slick user friendly poker client, since everything i have played has been B-grade to say the least.

Certainly there is a gap in the market at this point in time - i wonder if it is the programming costs that prevents companies like i-poker from churning out a product that doesnt feel like its designed by a 16 yr old IT student for his A-level school project.

Maybe someone like the Russian billionaire Roman Abramovich could jump in, he also has an interest in the game so i'm sure he is aware of this situation. (he was one of the biggest fish on FTP ever lol) http://www.pokertableratings.com/sta...earch/scout326

either way thats just chump change to him, but the potential profit from creating a good quality rival poker company sure wouldnt be
the link shows he's up by $5mill since 08. fish?
04-18-2011 , 05:21 PM
Quote:
Originally Posted by michael12345
the link shows he's up by $5mill since 08. fish?
i was gonna say. shark.

      
m