BUSINESS

DoJ announces agreement to return poker player’s money

TAGs: Black Friday, full tilt poker, US Department of Justice

bag of moneyIn the wake of heavy backlash, outcry and outrage voiced on the DoJ’s Facebook page, Preet Bharara the United States Attorney for the Southern District of New York, announced today that the United States had entered into domain-name use agreements with PokerStars and Full Tilt Poker. The announcement only mentioned PokerStars and Full Tilt Poker which comprise two of three online poker companies indicted on Black Friday.

According to the DoJ: The Complaint, a related Indictment, and a related Restraining Order issued against multiple bank accounts utilized by PokerStars and Full Tilt and their payment processors do not prohibit the companies from refunding players’ money. How they are going to do so was not mentioned.

The DoJ did state in their release that this agreement will facilitate the return of money so that players can register their refund requests directly with Pokerstars and Full Tilt Poker.

Taken directly from the DoJ’s press release, Manhattan U.S. Attorney Preet Bharara said:

“On April 15th, this Office and the FBI took specific legal action against 11 individuals who allegedly engaged not merely in the operation of illegal gambling businesses, but in massive wire fraud, bank fraud, and money laundering, despite repeated warnings and clear notice that their conduct was illegal in the United States. No individual player accounts were ever frozen or restrained, and each implicated poker company has at all times been free to reimburse any player’s deposited funds. In fact, this Office expects the companies to return the money that U.S. players entrusted to them, and we will work with the poker companies to facilitate the return of funds to players, as today’s agreements with PokerStars and Full Tilt Poker demonstrate.”

If I’m one of those players, I’m from the “show me” state, that is, show me the MONEY.

Stay tuned to Calvin Ayre for more in-depth commentary, analysis and updates on this development.

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