Feds seize another $1.5M from payment processors

CashThe ongoing federal probe in Maryland has resulted in three more bank account seizure warrants being served on a payment processor linked to online gambling, this time a company called HMD, Inc., for over $1.5M. Civil forfeiture proceedings will now be initiated to allow the government to keep the seized funds, after which Timothy Geithner will presumably look for some way to give the cash to Goldman Sachs. Read more.