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Three largest online poker sites indicted and shut down by FBI

  • SIAP. Bye-bye PokerStars, Full Tilt and Absolute Poker.

    This post has been edited 2 times, most recently by nedgo on 4/15/2011 at 4:16 PM

    Three largest online poker sites indicted and shut down by FBI | Money & Company | Los Angeles Times

    The founders of the three largest online poker sites were indicted by the FBI on Friday in what could serve as a death blow to the thriving industry. Eleven executives at PokerStars, Full Tilt Poker and Absolute Poker were charged...

    latimesblogs.latimes.com

    Photo on strike.

    nedgo ●

  • thanks nanny state!

    signature image signature image

    L.G.R.W.

    beal99 ●

  • beal99 said...

    thanks nanny state!

    x100

    Bush era law, Obama era enforcement. 100% bullshit.

    Photo on strike.

    nedgo ●

  • Atually, Online Poker was legalized in the budget that just passed. Someone from DC snuck in a rider authorizing DC to run online poker later this year. I would think the site would move to DC.

    PS I am not sure of the exact wording of the law so it may be only legal for players located in DC to play the DC hosted sites...

    Edit: link attached

    This post was edited by pulling69 on 4/15/2011 at 4:38 PM

    Washington, DC Online Poker Would be Set up in Hot Spots | Gambling911.com

    Washington, DC became the first US jurisdiction to legalize online poker Tuesday and other states are likely to follow, although plans to offer the activity in Florida fell through one day later.

    www.gambling911.com

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • pulling69 said...

    Atually, Online Poker was legalized in the budget that just passed. Someone from DC snuck in a rider authorizing DC to run online poker later this year. I would think the site would move to DC.

    PS I am not sure of the exact wording of the law so it may be only legal for players located in DC to play the DC hosted sites...

    I heard it was just players located in D.C. to be allowed to play legally.

    Just checked my pokerstars account and $$ is still there. I have been at Pstars for my whole poker playing life. What other sites are good to play at??

    signature image

    Kid A

  • This article explains why the execs were busted....I assume the sites are still going to run, the US just wants their cut of $3 Billion that may have been laundered:

    "According to the DoJ, however, 11 defendants behind these poker companies used fraudulent methods to trick payment processors like Visa and MasterCard into accepting payments from US users. Members from all three poker sites allegedly "arranged" for payments to be processed for things like jewelry and golf balls.

    It gets more sordid. After having bank accounts shut down in 2009, several defendants allegedly bribed small-time banking institutions into cooperating with the scheme. For example, a private bank in Saint George, Utah ended up accepting a $10 million "investment" from individuals behind the accused poker sites in exchange for the processing of gambling transactions, with a $20,000 bonus for the bank's vice chairman.

    As a result, the 11 individuals behind the three poker sites now face "at least" $3 billion—you read that correctly, billion—in money laundering penalties, in addition to the shut-down of 76 bank accounts in 14 countries. "

    FBI: online poker sites "bet the house" on money laundering, fraud

    Some of the biggest names in online poker are now facing federal money laundering charges for allegedly tricking and bribing US banks into processing payments for online gambling purposes. Five domains have been seized and 76 bank accounts have been shut down via restraining orders.

    arstechnica.com

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • I just want to know what corny name the FBI assigned the operation.

    Operation: Royal Flush or something like that.

    signature image

    PolskaSpartan

  • PolskaSpartan said...

    I just want to know what corny name the FBI assigned the operation.

    Operation: Royal Flush or something like that.

    Operation Read 'Em and Weep

    Photo on strike.

    nedgo ●

  • Go to www.pokerstars.net

    Sports Mechanic

  • Kid Poker seems to being well on the homepage. shrug

    Big John Studd

  • In Texas everything is working fine.Playing on both FTP and Stars now.

    San Juan Kid

  • The WOTS is that the sites are still up for some because the FBI takeover has not propagated through the all of the DNS yet and that all 3 sites will be down worldwide within 48 hours.

    Here is the press release from the DOJ with the details:

    http://www.justice.gov/usao/nys/pressreleases/April11/scheinbergetalindictmentpr.pdf

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • The FBI and Interpol should crack down on Zynga poker. That site has more hacking than on all the golf courses combined.

    Sports Mechanic

  • San Juan Kid said...

    In Texas everything is working fine.Playing on both FTP and Stars now.

    I'd work on getting your money out while u still can

    DayWalker ●

  • nedgo said...

    x100

    Bush era law, Obama era enforcement. 100% bullshit.

    Aren't they breaking the law?

    signature image signature image signature image

    Snake Plissken ●

  • Snake Plissken said...

    Aren't they breaking the law?

    Who: the poker sites, the poker site execs for their fraud, or the poker players?

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • Cool, so these guys are being busted for tax evasion, while Ben Bernanke sleeps soundly after counterfeiting $2,000,000,000,000.

    attachment

    hexydes

  • hexydes said...

    Cool, so these guys are being busted for tax evasion, while Ben Bernanke sleeps soundly after counterfeiting $2,000,000,000,000.

    soapbox

    Trevor Barnes ●

  • hexydes said...

    Cool, so these guys are being busted for tax evasion, while Ben Bernanke sleeps soundly after counterfeiting $2,000,000,000,000.

    Actually they were busted for wire fraud, money laundering, conspiracy(to volate the UIGE act), and operation of an illegal gambling business.....I guess the IRS could come after them at a later date?

    Count
    Charge
    Defendants
    Maximum Penalties
    1
    Conspiracy toViolate Unlawful Internet GamblingEnforcement Act (UIGIEA)
    ISAI SCHEINBERG,RAYMOND BITAR,SCOTT TOM,BRENT BECKLEY,NELSON BURTNICK,PAUL TATE,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease
    2
    Violation of Unlawful Internet GamblingEnforcement Act (UIGIEA) -PokerStars
    ISAI SCHEINBERG,NELSON BURTNICK,PAUL TATE,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease
    Count
    Charge
    Defendants
    Maximum Penalties
    3
    Violation of Unlawful Internet GamblingEnforcement Act (UIGIEA) - FullTilt Poker
    RAYMOND BITAR,NELSON BURTNICK,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease
    4
    Violation of Unlawful Internet GamblingEnforcement Act (UIGIEA) Absolute
    Poker
    SCOTT TOM,BRENT BECKLEY,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease
    5
    Operation ofIllegal GamblingBusiness -PokerStars
    ISAI SCHEINBERG,NELSON BURTNICK,PAUL TATE,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease; forfeitureof proceeds ofoffense
    6
    Operation ofIllegal GamblingBusiness - Full Tilt Poker
    RAYMOND BITAR,NELSON BURTNICK,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease; forfeitureof proceeds ofoffense
    7
    Operation ofIllegal GamblingBusiness Absolute
    Poker
    SCOTT TOM,BRENT BECKLEY,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE
    5 years in prison;fine of $250,000 ortwice the grossgain or loss; 3years supervisedrelease; forfeitureof proceeds ofoffense
    Count
    Charge
    Defendants
    Maximum Penalties
    8
    Conspiracy toCommit Bank Fraud and Wire Fraud
    ISAI SCHEINBERG,RAYMOND BITAR,BRENT BECKLEY,NELSON BURTNICK,PAUL TATE,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE
    30 years in prison;fine of $1,000,000or twice the grossgain or loss; 5years supervisedrelease; forfeitureof proceeds ofoffense
    9
    Money LaunderingConspiracy
    ISAI SCHEINBERG,RAYMOND BITAR,BRENT BECKLEY,NELSON BURTNICK,PAUL TATE,RYAN LANG,BRADLEY FRANZEN,IRA RUBIN,CHAD ELIE,JOHN CAMPOS
    20 years in prison;fine of $500,000 ortwice the amount laundered; 3 yearssupervised release;forfeiture of proceeds of offense

    This post was edited by pulling69 on 4/15/2011 at 5:32 PM

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • too late anyway.I'm sure the processors are all down.I remember when this happened with Neteller.There is a good discussion on twoplustwo in the Legislation forum now.

    San Juan Kid

  • San Juan Kid said...

    too late anyway.I'm sure the processors are all down.I remember when this happened with Neteller.There is a good discussion on twoplustwo in the Legislation forum now.

    I think the players funds at Full Tilt and Poker Stars are safe, it may be a while before they can get them though....and when they do the IRS might get it's dirty hands involved in the process.

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

  • pulling69 said...

    Who: the poker sites, the poker site execs for their fraud, or the poker players?

    all of the above

    signature image signature image signature image

    Snake Plissken ●

  • Take all of your money out right now if you can people

    SagnastysFinest ●

  • Ironically,did you guys read the article in the Free Press today on Joe Cada?

    San Juan Kid

  • Snake Plissken said...

    all of the above

    Actually the playing of online poker is not illegal under US Law, the UIGIEA only deals with banking issues. Also, if someone(such as myself) funded their account before the UIGIEA went into effect and was playing with that money no law has been broken.

    nerd

    PS Also the UIGEA only deals with the financial institutions and websites involved in the funding process, the "player" does not violate the act.

    This post was edited by pulling69 on 4/15/2011 at 5:47 PM

    United States Code: Title 31,5367. Circumventions prohibited | LII / Legal Information Institute

    http://www.law.cornell.edu/uscode/31/5367.html

    www.law.cornell.edu

    35,600 posts and counting since 09-09-2002. tRCMB Dead Pool Commissioner.

    pulling69

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