Entry #18 (2011-04-15)Here's what just happened.
Today indictments were levied against almost a dozen key people in the online poker industry. These indictments came through a U.S. Attorney's office (Southern District of New York). At risk is access to real-money online poker in its entirety for those in the United States, billions of dollars in forfeited profit, and potential prison terms for those targeted by the serious criminal charges — including money laundering and bank fraud.
PokerStars.com, currently the world's largest online poker site, has already suspended play for U.S. players.
The notice at left appeared on the FullTilt home page. It's a bit stark, scary, and possibly doesn't demonstrate the FBI's best design talents. You can see a larger, more readable, view at the bottom of this entry.
Here is a growing list of high-quality or otherwise interesting links I've chosen to provide you with more detail:
http://www.businessinsider.com/online-poker-players-get-their-money-back-2011-4
http://www.abcnews4.com/story/14457037/3-online-poker-houses-face-fraud-charges-in-nyc
http://www.huliq.com/12079/fbi-shuts-down-online-poker-sites-and-seizes-customer-money
http://community.seattletimes.nwsource.com/mobile/?type=story&id=2014787436&
http://www.crainsnewyork.com/article/20110415/FREE/110419892
http://www.latimes.com/business/la-fi-poker-busts-20110416,0,308055.story
http://latimesblogs.latimes.com/money_co/2011/04/full-tilt-poker-fbi.html
http://www.mpcpoker.com/company-seeks-seized-winnings/
Plus some of my thoughts in previous Poker1 entries…
http://www.poker1.com/archives/8879
http://www.poker1.com/archives/11360
http://www.poker1.com/archives/8830
http://www.poker1.com/archives/6020
FOLLOW-UP…
Online poker players will get their money back in accordance with deal made by Department of Justice. Two links:
(Link to story a mlive.com. GO THERE.)
Poker1 link contributions related to this story…
http://www.pokeraddict.net/opinion-more-to-the-pokerstars-full-tilt-and-absolute-pokerub-seizures/
(Link above recommended by Jake Ferguson.)
(Link to Wall Street Journal story, stating that the DOJ considers Full Tilt operations to have operated as a poker Ponzi scheme or, more specifically, a "global Ponzi scheme." Whatever. GO THERE.)
If you want to contribute other related links of interest, please add them to the comments below. — MC
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It was dissappointing to me when online poker got shutdown it was the day after my birthday it was a real Bummer. I started playing poker this past January started buying books trying to gather as much information as possible to get better. Its not that hard to find time for me to invest in poker being my current situation, I have with some health problems and being unable to work. But I found another good web site http://www.clubwpt.com its not what I would ideally have in mind for online poker but they have cash prizes for tournaments and I have actually won a few so its alright in this time of gloom for online poker.
Outstanding Job Mike, Thanks for additional links!
Thanks for you support, Mike! As I’ve said on every forum, ALL US players should contact their lawmakers and tell them how they feel. Tell them to support H.R. 1147. The Poker Players Association has an easy to use mailing-form you can use here to contact your lawmakers: http://capwiz.com/pokerplayersalliance/home/
Not 1147 – 1174!
Ty Mike. Following the news from Argentina and concearned too.
Take online poker away from US players but still allowed to access porn. Maybe they rather see Sarah Palin naked then to beat her at poker.
Time to revolt!!!
Why can’t we have both?
rats
Mike, thanks so much for the links. Here’s a blog I have been following closely: http://www.pokeraddict.net/opinion-more-to-the-pokerstars-full-tilt-and-absolute-pokerub-seizures/
Dear Mike: I have met you a few times during various poker tournaments, you were charming. As a matter of fact, I sent you a copy of my poker book (godness another poker book) The Prometheus Stratagem. However, I am disappointed in the fact that you keep changing the date to open up your site. Your archives are great, but why delay. Poker is exponentially growing and if you do not get this site up and running, you will fall by thw wayside.
Sincerely, Daniel Olarnick
Mike Caro note: This comment was originally intended for blog #017, but was reassigned when that entry was briefly overwritten by this one.
Hi Mike, I wish you success for your project! Cheers, Nico
Mike Caro note: This comment was originally intended for blog #017, but was reassigned when that entry was briefly overwritten by this one.