Interested in hearing more opinions on the benefit of trying to cash FTPs, FPPs, etc in for cash or other value now in light of the news...

Front page CNN:

http://money.cnn.com/2011/04/15/news...dex.htm?hpt=T2

PPA Chairman Alfonse D'Amato has issued a public statement condemning these heavy handed actions by the US government.

There is not much else the PPA can do at this time. As more detailed information becomes available the PPA will try and share it on these forums and elsewhere.

As to the 2 main questions at the moment:

1) the substance of the case is not a big surprise. That the DOJ could initiate such a case has been known and talked about for quite some time. Why they chose to do it now I have no idea. The allegations regarding UIGEA violations and being an illegal gambling business have direct defenses. The money laundering charge is directly tied to being guilty of these charges. The only charge that is out there that does seem new is the one about bank fraud regarding lying to banks about the nature of the transactions. The sites could be guilty of this even if offering online poker is not illegal.

2) The international nature of Stars and FTP lead me to believe that player money held by these sites independently from site-operating money is still safe. I have no clue whether the same is true for Cereus/UB. Getting the money is vastly different question. One has to assume the DOJ is operating with typical thoroughness and the "restraining orders" it obtained are there to prohibit any transfers of funds. But that is an ASSUMPTION, it is not based on any direct knowledge. I would not make any rash moves with funds I had on a poker site until more information is available.

Bottom line:

The free-ride of the status-quo is over and the "all-in" fight has now begun. The lawyers will now get to work doing what we can to salvage what we can. The rest of you need desperately to get to work on making your voices heard politically.

Skallagrim

Any idea what this all means for MERGE, BODOG, and CAKE?

As an American living abroad I can confirm that this is NOT the case. I am still able to play on Stars and FTP. However, I have also previously provided the sites proof of my current residence.

http://www.justice.gov/usao/nys/pres...dictmentpr.pdf The release about the indictments here. I posted the news about this on FB so I hope everyone gets the clear message. Like Skall said, I wouldn't try depositing or withdrawing money at this time.

Ty Skall

I got on a withdrew when I heard the news and was able to connect (about 15 minutes ago). It warned that transfers are taking more time but that was it.

I'm ready to go on this, and I think there will be a ton of others ready to do so as well. Hopefully the PPA can release something letting us know how best to go about this, organize rally's, calls, whatever we can do to get the legislature to make the correct decision on fixing everything through regulation etc.? Thanks for the info you provided above on what has to be a crazy day for you guys!

I got that at my university connection as well. Ran home to try there and I can't do it there either.

I don't know what others will/should do but for me I'm taking all funds off all sites before the DOJ goes and gets it from them. luckily for me I moved most of my play off FTP/PS over 2 years ago and played mostly smaller sites. If the DOJ has goen after then its probably on a matter of time before they focus their attention on the smaller sites, so I'm getting out while the getting is good

same here

Thanks. When I went to the gym, all was quiet. Quite a shocker when I checked my iPhone on the way out!!! Yes, this is very, very bad. I'm not sure why so many here seemed to think all was golden, to the point where they shocked that the Reid bill even considered the interests of anyone but us (and even sent me hate mail and hate PMs over it), but hopefully we'll all band together and stand up for ourselves and end the delusions about keeping the status quo forever.

You are clearly a douchenozzle

this is so sick and depressing.... i am now unemplyed.... someone know of any job openings in the ny area?

Indictment 8 is the one that sounds like they will have almost no defense against, and it's the stiffest penalty. They can possibly beat the other 8 counts, but #8 (based on the official indictment) doesn't sound good.

Sigh... it was a good run. Poor guys facing these charges.

More detailed info:

https://docs.google.com/viewer?a=v&p...thkey=CJ6Jmu0C

https://docs.google.com/viewer?a=v&p...thkey=CLPTi4QF

Is it guaranteed that the 3 sites listed will cut off real money games to all US residents within a matter of hours/days or is it possible that 1 or more(Cereus most likely) continues to offer games despite the indictment? Or does the domain seizure make that impossible? What options do the sites have at this point?

Found this:

http://latimesblogs.latimes.com/mone...wn-by-fbi.html

Party Poker up 11% in the last couple of hours. Why didn't I think of that earlier...

Yes. In my non-lawyer opinion, there are a million defenses that can be offered up against charges of hosting a poker game online, but investing in a bank in exchange for them processing transactions was beyond stupid.

You want PPA to print money and use force to make players fight back? You seem to think all we have to do is ask. Well, we've been BEGGING poker players to fight back. I've spent over 2,000 hours a year for the past four years on this -- not for me to do the work, but to encourage others to jump in.

I really hope everyone will now take a strong stand. I just hope it's not too late.

I just made a withdraw thru e-check, and PokerStars sent me an email saying allow 72 hours for process then another 3-10 business days before it gets deposited into my account. Usually it's in my account in 72 hours or so.....so we will see.

i exchanged a bunch of fpps for cash just right now

I think Indian casinos being bed with the gov has everything to do with this.