15 Apr 11
LIVE TICKER: PokerStars, Full Tilt Poker, UB and AP charged in US
The FBI has seized the main internet domains of the biggest US-facing poker rooms and charged its owners and managers with fraud, money laundering and illegal gambling.
Executives at PokerStars, Full Tilt Poker, UltimateBet and AbsolutePoker have been charged with several felonies such as illegal gambling, money laundering and fraud. The main internet domains of these poker rooms were seized and now show an FBI notice. The FBI apparently also seized or froze more than 75 bank accounts of poker payment processors located in the US.
The main subjects of the charges are eleven poker executives such as Isai Steinberg of PokerStars and Raymond Bitar of Full Tilt Poker. Thus far there have been two arrests in the US, but neither are thought to be poker executives. The other defendents aren't currently on US soil according to a statement by the US Department of Justice. If arrested and convicted, the defendants could face very significant fines and possibly even jail time.
The orginial Twitter message released by news agency Reuters reads: "Three Largest Internet Poker Companies Charged With Fraud, Illegal Gambling – Pokerstars, Full Tilt Poker, & Absolute Poker – Charged".
Please note: Currently you can access the websites of PokerStars and Full Tilt Poker using the domains below. You can also download the client software there.
18:30 GMT durrrr comments
Tom Dwan writes on Twitter: "I long ago realized that laws replaced common sense in every day government, however I still thought n hoped the regulation of billion dollar industries was usually done in a logical fashion."
18:34 GMT PokerStars Traffic declining
Kevmath from the US, editor at Bluff Magazine and 2+2 moderator reports: "Last 10 minutes or so, Stars has dropped 15k players".
18:36 GMT PokerStars doesn't allow any US players
ESPN reports via Twitter that several US players are facing problems while connecting to PokerStars.
18:44 GMT Onyx Cup?
The first Full Tilt Poker Onyx Cup is scheduled to take place in May in Las Vegas. Discussions are heating up on Twitter whether or not this will still go ahead.
18:50 GMT 11 managers charged
Wall Street Journal reports that a total of 11 managers from several poker rooms has been charged.
18:53 GMT Over 75 accounts frozen
The Wall Street Journal further reports that over 75 bank accounts of companies linked to poker rooms have been frozen.
18:56 GMT Poker rooms are facing up to 3 billion USD in fines
According to Forbes, poker rooms are facing fines up about 3 billion US dollar.
19:03 GMT The names of the 11 managers charged
The names of the managers charged can be found in the charging document here: Isai Scheinberg, Raymond Bitar, Scott Tom, Brent Beckley, Nelson Burtnick, Paul Tate, Ryan Lang, Bradley Franzen, Ira Rubin, Chad Elie und John Campos.
19:08 GMT nanonoko comments
Online legend and PokerStars Pro nanonoko said on Twitter: "hmm...might need to consider buying from the value menu again at McDonalds if things don't work so well".
19:10 GMT Poker rooms used "fraudulent methods"
The charging document states "...used fraudulent methods to avoid restrictions and to receive billions of dollars from United States residents who gambled."
19:13 GMT Charges of money laundering
Phil Galfond via Twitter: "Whatever is gonna happen is gonna happen. All we can do is try to voice our support for online poker, and then wait and see. (...) Try not to freak out..."
22:26 GMT Also durrrr remains rather cool...
... and posts on Twitter: "99.93 might be a little high lol, but I wouldn't be worried about getting paid. Might take a little time. Goodluck if ur not on ftp/ps ;("
22:40 GMT Complete indictment is online
Click here to read the document.
00:40 GMT PokerStars.eu
PokerStars hosts their website now at www.PokerStars.eu and says that "there is no change in general" for players outside the USA.
02:57 GMT Wynn Resorts end cooperation with PokerStars
The partnership between casino magnate Steve Wynn and PokerStars has been ceased as it was announced in a statement issued by Wynn Resorts.
05:30 GMT Statement by Full Tilt Poker CEO
Raymond Bitar, CEO at Full Tilt Poker, offiicially confirmed that his poker room is no longer accepting US players. He adds: "I am surprised and disappointed by the government’s decision to bring these charges. I look forward to Mr. Burtnick’s and my exoneration".
Saturday, 13:15 GMT Erick Lindgren still in the mood for jokes
Team Full Tilt Poker Pro Erick Lindgren writes on Twitter: "This is all clearly the fault of @RealKidPoker [Daniel Negreanu]. I told him if he ever started beating online poker the world would end."
Saturday, 13:30 Statement from PokerStars - "Bankrolls are safe"
Saturday, 15:30 EuroPoker increases deposit limits
EuroPoker has just informed us that they are about to increase the deposit limits for Moneybookers and Neteller customers significantly. Players can now deposit up to €35,000.
Saturday, 19:19 PokerStars announces decrease in prizepools
PokerStars have recently released an update to the guaranteed prizepools of some of their biggest tournaments. This is what they'll look like now:
Nightly Hundred Grand => $70,000 guarantee
Nightly Seventy Grand => $30,000 guarantee
Wednesday Quarter Million => $100,000 guarantee
Sunday Million => $1 million guarantee (down from $1.5 million)
Sunday 2nd Chance => $125,000 guarantee (down from $200,000)
Sunday 500 => $250,000 guarantee (down from $500,000)
Saturday, 20:20 Full Tilt Poker Onyx Cup possibly cancelled
Sources close to the television production of the Onyx Cup say that the first two events, scheduled for May 11-12 and July 7-8 have been postponed and most likely cancelled.
Sunday, 02:00 GMT Our opinion: Moneybookers, Neteller and Poker rooms without US-traffic are safe
There were questions in the forums about the safety of payment providers like Moneybookers and Neteller as well as about poker rooms. We think that any payment provider or poker room which decided a long time ago not to take US-traffic any more is 100% safe. However this can not be considered as official legal advice.
We will keep you posted as the events unfold.
This is what Fulltiltpoker.com looks like:
Click for more information.