Been playing holdem and omaha since 1995 @ UT Austin. Been playing online since about 2002. Spend 4 minutes adn read the indictments here:
http://www.justice.gov/usao/nys/pres...dictmentpr.pdf
"For example, defendants ISAI SCHEINBERG and PAUL TATE of
PokerStars, RAYMOND BITAR and NELSON BURTNICK of Full Tilt Poker,
and SCOTT TOM and BRENT BECKLEY of Absolute Poker, arranged for
the money received from U.S. gamblers to be disguised as payments
to hundreds of non-existent online merchants purporting to sell
merchandise such as jewelry and golf balls."
"By late 2009, after U.S. banks and financial
institutions detected and shut down multiple fraudulent bank
accounts used by the Poker Companies, SCHEINBERG and BITAR
developed a new processing strategy that would not involve lying
to banks. PokerStars, FullTilt Poker, and their payment
processors persuaded the principals of a few small, local banks
facing financial difficulties to engage in such processing in
return for multi-million dollar investments in the banks. For
example, in September 2009, ELIE and others approached defendant
JOHN CAMPOS, the Vice Chairman of the Board and part-owner of
SunFirst Bank, a small, private bank based in Saint George, Utah,
about processing Internet poker transactions. While expressing
"trepidations," CAMPOS allegedly agreed to process gambling
transactions in return for a $10 million investment in SunFirst
by ELIE and an associate, which would give them a more than 30%
ownership stake in the bank. CAMPOS also requested and received
a $20,000 "bonus" for his assistance. In an e-mail, one of
ELIE’s associates boasted that they had "purchased" SunFirst and
that they "were looking to purchase" "a grand total of 3 or 4
banks" to process payments."
They literally bought a bank and paid the manager to violate the UIGEA. You just cant do that and brag about it.
These guys are criminals, f*&$ em. The silver lining is that the sheer numbers of us will force a reputable, regulated business at some point in the future. You would rather play in a game without thugs and guns right? Well then lets play in one where our hosts arent white collar criminals.