***Feds Go After Online Poker sites_ 4betJam***

[Bert.]

Hyper when you get your money back, slide me a c-note or something brah. damn.

 

[jewseejay]

/\ if... If he gets his loot back... Situations ugly man, im sure tens of millions are be syphined away as we speak... Feds came n with the ski masks n toolies demandin theirs

may be,being pessimistic but yea I could see site operators using player funds to pay off gov. (hide n offshore accts) Set up the new system n everyone basically being told they gotta start from scratch

 

[jewseejay]

/\ if... If he gets his loot back... Situations ugly man, im sure tens of millions are be syphined away as we speak... Feds came n with the ski masks n toolies demandin theirs

may be,being pessimistic but yea I could see site operators using player funds to pay off gov. (hide n offshore accts) Set up the new system n everyone basically being told they gotta start from scratch

 

[urbenyouth]

FTP has yet to deduct some $ from my account from a few weeks ago. Are they still gonna?

 

[urbenyouth]

FTP has yet to deduct some $ from my account from a few weeks ago. Are they still gonna?

 

[703 hwy]

Damn homie, in HS you was the man homie...

 

[703 hwy]

Damn homie, in HS you was the man homie...

 

[Deleted member 37467]

Originally Posted by Zyzz

Hyper when you get your money back, slide me a c-note or something brah. damn.

If I get the money back I'll do a big giveaway thread.

I'm long overdue for one anyway, that PS3 giveaway was a year and a half ago.

 

[Deleted member 37467]

Originally Posted by Zyzz

Hyper when you get your money back, slide me a c-note or something brah. damn.

If I get the money back I'll do a big giveaway thread.

I'm long overdue for one anyway, that PS3 giveaway was a year and a half ago.

 

[rawjs]

Originally Posted by UrbenYouth

FTP has yet to deduct some $ from my account from a few weeks ago. Are they still gonna?

Don't think they can now.

 

[rawjs]

Originally Posted by UrbenYouth

FTP has yet to deduct some $ from my account from a few weeks ago. Are they still gonna?

Don't think they can now.

 

[Bert.]

Originally Posted by Hyper

Originally Posted by Zyzz

Hyper when you get your money back, slide me a c-note or something brah. damn.

If I get the money back I'll do a big giveaway thread.

I'm long overdue for one anyway, that PS3 giveaway was a year and a half ago.

damn, didnt even know you gave something away

regardless props

hope you get your money back

 

[Bert.]

Originally Posted by Hyper

Originally Posted by Zyzz

Hyper when you get your money back, slide me a c-note or something brah. damn.

If I get the money back I'll do a big giveaway thread.

I'm long overdue for one anyway, that PS3 giveaway was a year and a half ago.

damn, didnt even know you gave something away

regardless props

hope you get your money back

 

[destination kicks]

Hyper- Who's that in your avy? Is that Portman?

 

[destination kicks]

Hyper- Who's that in your avy? Is that Portman?

 

[shoefreak77]

Hyper = NT Robin Hood...
hollaaa!!!
-sf77

 

[shoefreak77]

Hyper = NT Robin Hood...
hollaaa!!!
-sf77

 

[kingtre]

havent been around to update but the situation is MUCH more grim than it looked-

US players cant play at all right now- and the case is more focused on money laundering etc and not so much the gray area of online poker being illegal....

to dude with 500k - all i can say is wow and good luck....there's def people out there with those type of amounts so no need to call ducktales...but its def looking grim right now...all the processors are tied up in the schemes and in the indictment so once they start freezing assets and money its gonna be real hard to get at-  of course pokerstars and ft are saying everybodies $ is safe but time will tell....

they are basically making way for regulated and taxed poker...DC and Vegas just passed laws allowing for online poker....PS and full tilt had deals set up with major casino corps and were lobbying to get it all squared away where it would all be legal and they would continue business in a much more transparent and obviously legal way with the branding of the casinos...after all of this broke both casinos have backed out of the deals with the online sites....

everyone knew they were operating with the other foot set to drop at any time but this is how the house of cards fell...

same story as the major drug operations/mafia families etc etc - greed, snitching , money laundering, tax evasion, wire fraud etc

Meet The Boy Genius Who Just Took Down The Online Poker Industry

The internet is still coming to grips with the huge online gambling bust that just took down the U.S.'s three biggest online poker sites.

But Australia's Courier-Mail newspaper already has the scoop on the one man who may have single-handedly built the online industry ... then handed it to the U.S. government on a platter.

According to this story, Daniel Tzvetkoff was a young Australian entrepreneur who set up the payment processing schemes used by the biggest poker sites to handle their (mostly illegal) transactions.

He is described by those who know him as a "boy wonder" and "genius" who started his first company at 13 and knew all the intricacies of e-commerce.

He made Full Tilt Poker and Poker Stars millions of dollars — and made as much as $150,000 a day for himself — but then got even more greedy and started taking their. They sued him, accusing Tzvetkoff of taking more than $100 million of their money.

Then last April, Tzvetkoff was arrested in Las Vegas and charged with the same crimes those sites' founders were charged with today: money laundering, bank fraud, wire fraud. As an Australian citizen with a lot of cash, he was considered a flight risk and denied bail.
Then after a "secret" meeting with prosecutors last August, he was suddenly out on bail. And now his former colleagues are the ones facing serious prison time.

Daniel Tzvetkoff knows the operations of these poker sites inside and out. It was knowledge of the financial industry that allowed them to operate. He's the one man positioned to give the U.S. Attorneys everything they needed to take down their businesses.

And it looks like that's exactly what he did, cooperating with the authorities to avoid his own lengthy jail sentence.

All the major gambling prosecutions in the U.S. since Tzvetkoff's arrest have been run out of the office of Arlo Devlin-Brown, the Manhattan Asst. U.S. Attorney who is Tzvetkoff's "handler."

According to a source, Tzvetkoff "knows how to reverse-engineer transactions to determine its original source," making him very valuable to investigators.

And the biggest irony of all? It's been rumored that the only reason the FBI got their hands on him is because Full Tilt or Poker Stars (the companies he used to work for and stole from) tipped off the FBI that he was going to be traveling to the United States last year.
They ratted him out ... and he turned the tables. No honor among thieves.

And as the Courier Mail put it, if this were still the old days, he'd be buried in the Las Vegas desert right now.

heres another article to explain the situation better for those who are just spewing nonsense

April 15, 2011, will come to be known as Black Friday in the poker community. The online poker world that we have become used to over the past decade is forever changed.

The indictments revealed by the U.S. Southern District of New York against the owners of PokerStars, Full Tilt Poker and Absolute Poker are serious. The short-term outlook for online poker is grim.

PokerStars already has stopped serving the U.S. market. I expect Full Tilt Poker and probably Absolute Poker to follow. I would not expect these sites to serve the U.S. market again until after online poker is officially legalized, licensed and regulated in the country. Even then, the chances of these sites obtaining a license have been severely impacted. Americans with money on the sites likely will get it back eventually but, as it did when the Neteller founders were indicted, it could take a while.

Innocent until proven guilty is the credo of the U.S. justice system. But the Southern District of New York is the strongest arm of the Department of Justice. It doesn't make indictments based on conjecture. It doesn't go all-in on draws. It waits until it has you drawing dead, then shoves. That the court is making these indictments public now means it is certain it has damning evidence.

This isn't likely to lead to a trial on the legal merits of online poker. In fact, it is probable that none of the indictments go to trial. The district attorneys at the Southern District of New York are not people you want to go to trial against. Most of its indictments end in a settlement.

The charges of violating the Unlawful Internet Gambling Enforcement Act and the operation of an illegal gambling business are suspect because of the gray area regarding the legality of online poker. The money laundering charge also relies on online poker being considered an illegal gambling business. The most serious charge is bank fraud. The indictment alleges that the sites tricked U.S. banks into accepting Internet gambling transactions by disguising the transactions to create the false appearance that they were unrelated to gambling.

Another part of the bank fraud charge and perhaps the most damning part of the indictment is the allegation that defendant Chad Elie and his associates persuaded small, local banks facing financial difficulties to process gambling transactions in return for sizable fees and multimillion dollar investments in the banks. The indictment cites a Sept. 23, 2009, e-mail in which defendant John Campos, a vice chairman and part owner of the SunFirst Bank in St. George, Utah, proposes to accept processing gambling transactions in return for a $10 million investment in the bank, which would give Elie and his partners more than a 30-percent ownership of the bank. The indictment further alleges that Elie and his partners made a $3.4 million initial investment in December of 2009 and that, around that time, the bank began processing payments for PokerStars and Full Tilt that would total about $200 million over the next year or so. Campos and Elie were arrested Friday morning.

For the defendants located outside the country, the issue will be whether they want to face the indictment head on or stay out of the U.S., and whether the country where they are located would extradite them to the U.S. upon request.

These indictments probably set back the movement to federally license and regulate Internet poker by a year or two. When you have indictments such as these, people -- especially politicians -- run away from it, not toward it. It wouldn't look good for Senate Majority Leader Harry Reid to push for an online poker bill right after online poker sites that supported his campaign were indicted.

It is clear now that federal licensing is needed. There is no more being satisfied with the status quo. Sites, like Bodog, that would not be able to obtain an online poker license initially anyway because of their involvement in sports betting, might continue to operate in the U.S. for now. Some of the smaller sites not named in the indictment likely also will stop serving the U.S. based on the fear that they could be next. There won't be any sites to replace PokerStars and Full Tilt Poker in the U.S. with the ease that they replaced Party Poker when it left the market.

Without the status quo, poker players will band together prepared to fight for legalization like never before. PokerStars and Full Tilt Poker can focus more on the legalization effort, but their lobbying power will be weakened. Partnerships made recently by PokerStars with Wynn Resorts and Full Tilt with the parent company of Station Casinos may be in jeopardy.

Caesars Entertainment and Party Gaming were always expected to play hardball against PokerStars and Full Tilt Poker to try to keep them out of the market. Their argument just got a lot easier.

Eventually, regulated online poker will happen in the U.S. For now, the blackout period has begun.


Read more: http://www.pokernews.com/...day-indictment-10224.htm

 

[kingtre]

havent been around to update but the situation is MUCH more grim than it looked-

US players cant play at all right now- and the case is more focused on money laundering etc and not so much the gray area of online poker being illegal....

to dude with 500k - all i can say is wow and good luck....there's def people out there with those type of amounts so no need to call ducktales...but its def looking grim right now...all the processors are tied up in the schemes and in the indictment so once they start freezing assets and money its gonna be real hard to get at-  of course pokerstars and ft are saying everybodies $ is safe but time will tell....

they are basically making way for regulated and taxed poker...DC and Vegas just passed laws allowing for online poker....PS and full tilt had deals set up with major casino corps and were lobbying to get it all squared away where it would all be legal and they would continue business in a much more transparent and obviously legal way with the branding of the casinos...after all of this broke both casinos have backed out of the deals with the online sites....

everyone knew they were operating with the other foot set to drop at any time but this is how the house of cards fell...

same story as the major drug operations/mafia families etc etc - greed, snitching , money laundering, tax evasion, wire fraud etc

Meet The Boy Genius Who Just Took Down The Online Poker Industry

The internet is still coming to grips with the huge online gambling bust that just took down the U.S.'s three biggest online poker sites.

But Australia's Courier-Mail newspaper already has the scoop on the one man who may have single-handedly built the online industry ... then handed it to the U.S. government on a platter.

According to this story, Daniel Tzvetkoff was a young Australian entrepreneur who set up the payment processing schemes used by the biggest poker sites to handle their (mostly illegal) transactions.

He is described by those who know him as a "boy wonder" and "genius" who started his first company at 13 and knew all the intricacies of e-commerce.

He made Full Tilt Poker and Poker Stars millions of dollars — and made as much as $150,000 a day for himself — but then got even more greedy and started taking their. They sued him, accusing Tzvetkoff of taking more than $100 million of their money.

Then last April, Tzvetkoff was arrested in Las Vegas and charged with the same crimes those sites' founders were charged with today: money laundering, bank fraud, wire fraud. As an Australian citizen with a lot of cash, he was considered a flight risk and denied bail.
Then after a "secret" meeting with prosecutors last August, he was suddenly out on bail. And now his former colleagues are the ones facing serious prison time.

Daniel Tzvetkoff knows the operations of these poker sites inside and out. It was knowledge of the financial industry that allowed them to operate. He's the one man positioned to give the U.S. Attorneys everything they needed to take down their businesses.

And it looks like that's exactly what he did, cooperating with the authorities to avoid his own lengthy jail sentence.

All the major gambling prosecutions in the U.S. since Tzvetkoff's arrest have been run out of the office of Arlo Devlin-Brown, the Manhattan Asst. U.S. Attorney who is Tzvetkoff's "handler."

According to a source, Tzvetkoff "knows how to reverse-engineer transactions to determine its original source," making him very valuable to investigators.

And the biggest irony of all? It's been rumored that the only reason the FBI got their hands on him is because Full Tilt or Poker Stars (the companies he used to work for and stole from) tipped off the FBI that he was going to be traveling to the United States last year.
They ratted him out ... and he turned the tables. No honor among thieves.

And as the Courier Mail put it, if this were still the old days, he'd be buried in the Las Vegas desert right now.

heres another article to explain the situation better for those who are just spewing nonsense

April 15, 2011, will come to be known as Black Friday in the poker community. The online poker world that we have become used to over the past decade is forever changed.

The indictments revealed by the U.S. Southern District of New York against the owners of PokerStars, Full Tilt Poker and Absolute Poker are serious. The short-term outlook for online poker is grim.

PokerStars already has stopped serving the U.S. market. I expect Full Tilt Poker and probably Absolute Poker to follow. I would not expect these sites to serve the U.S. market again until after online poker is officially legalized, licensed and regulated in the country. Even then, the chances of these sites obtaining a license have been severely impacted. Americans with money on the sites likely will get it back eventually but, as it did when the Neteller founders were indicted, it could take a while.

Innocent until proven guilty is the credo of the U.S. justice system. But the Southern District of New York is the strongest arm of the Department of Justice. It doesn't make indictments based on conjecture. It doesn't go all-in on draws. It waits until it has you drawing dead, then shoves. That the court is making these indictments public now means it is certain it has damning evidence.

This isn't likely to lead to a trial on the legal merits of online poker. In fact, it is probable that none of the indictments go to trial. The district attorneys at the Southern District of New York are not people you want to go to trial against. Most of its indictments end in a settlement.

The charges of violating the Unlawful Internet Gambling Enforcement Act and the operation of an illegal gambling business are suspect because of the gray area regarding the legality of online poker. The money laundering charge also relies on online poker being considered an illegal gambling business. The most serious charge is bank fraud. The indictment alleges that the sites tricked U.S. banks into accepting Internet gambling transactions by disguising the transactions to create the false appearance that they were unrelated to gambling.

Another part of the bank fraud charge and perhaps the most damning part of the indictment is the allegation that defendant Chad Elie and his associates persuaded small, local banks facing financial difficulties to process gambling transactions in return for sizable fees and multimillion dollar investments in the banks. The indictment cites a Sept. 23, 2009, e-mail in which defendant John Campos, a vice chairman and part owner of the SunFirst Bank in St. George, Utah, proposes to accept processing gambling transactions in return for a $10 million investment in the bank, which would give Elie and his partners more than a 30-percent ownership of the bank. The indictment further alleges that Elie and his partners made a $3.4 million initial investment in December of 2009 and that, around that time, the bank began processing payments for PokerStars and Full Tilt that would total about $200 million over the next year or so. Campos and Elie were arrested Friday morning.

For the defendants located outside the country, the issue will be whether they want to face the indictment head on or stay out of the U.S., and whether the country where they are located would extradite them to the U.S. upon request.

These indictments probably set back the movement to federally license and regulate Internet poker by a year or two. When you have indictments such as these, people -- especially politicians -- run away from it, not toward it. It wouldn't look good for Senate Majority Leader Harry Reid to push for an online poker bill right after online poker sites that supported his campaign were indicted.

It is clear now that federal licensing is needed. There is no more being satisfied with the status quo. Sites, like Bodog, that would not be able to obtain an online poker license initially anyway because of their involvement in sports betting, might continue to operate in the U.S. for now. Some of the smaller sites not named in the indictment likely also will stop serving the U.S. based on the fear that they could be next. There won't be any sites to replace PokerStars and Full Tilt Poker in the U.S. with the ease that they replaced Party Poker when it left the market.

Without the status quo, poker players will band together prepared to fight for legalization like never before. PokerStars and Full Tilt Poker can focus more on the legalization effort, but their lobbying power will be weakened. Partnerships made recently by PokerStars with Wynn Resorts and Full Tilt with the parent company of Station Casinos may be in jeopardy.

Caesars Entertainment and Party Gaming were always expected to play hardball against PokerStars and Full Tilt Poker to try to keep them out of the market. Their argument just got a lot easier.

Eventually, regulated online poker will happen in the U.S. For now, the blackout period has begun.


Read more: http://www.pokernews.com/...day-indictment-10224.htm

 

[Deleted member 37467]

Originally Posted by Destination Kicks

Hyper- Who's that in your avy? Is that Portman?

Yup.

 

[Deleted member 37467]

Originally Posted by Destination Kicks

Hyper- Who's that in your avy? Is that Portman?

Yup.

 

[wawaweewa]

Originally Posted by Kingtre

havent been around to update but the situation is MUCH more grim than it looked-

US players cant play at all right now- and the case is more focused on money laundering etc and not so much the gray area of online poker being illegal....

to dude with 500k - all i can say is wow and good luck....there's def people out there with those type of amounts so no need to call ducktales...but its def looking grim right now...all the processors are tied up in the schemes and in the indictment so once they start freezing assets and money its gonna be real hard to get at-  of course pokerstars and ft are saying everybodies $ is safe but time will tell....

they are basically making way for regulated and taxed poker...DC and Vegas just passed laws allowing for online poker....PS and full tilt had deals set up with major casino corps and were lobbying to get it all squared away where it would all be legal and they would continue business in a much more transparent and obviously legal way with the branding of the casinos...after all of this broke both casinos have backed out of the deals with the online sites....

everyone knew they were operating with the other foot set to drop at any time but this is how the house of cards fell...

same story as the major drug operations/mafia families etc etc - greed, snitching , money laundering, tax evasion, wire fraud etc

When this all went down, one thing became obvious. PS and FT were set up by the Casinos. They were lulled into thinking that they could keep doing things as usual because the Vegas group would square things away on the legal side. I don't think that was the intention of the Vegas Casino's at all. Why share profits when you could get rid of the competition and keep it all to yourself. Especially knowing the influence/ wealth that the Vegas lobby has accumulated over the decades. 

 

[wawaweewa]

Originally Posted by Kingtre

havent been around to update but the situation is MUCH more grim than it looked-

US players cant play at all right now- and the case is more focused on money laundering etc and not so much the gray area of online poker being illegal....

to dude with 500k - all i can say is wow and good luck....there's def people out there with those type of amounts so no need to call ducktales...but its def looking grim right now...all the processors are tied up in the schemes and in the indictment so once they start freezing assets and money its gonna be real hard to get at-  of course pokerstars and ft are saying everybodies $ is safe but time will tell....

they are basically making way for regulated and taxed poker...DC and Vegas just passed laws allowing for online poker....PS and full tilt had deals set up with major casino corps and were lobbying to get it all squared away where it would all be legal and they would continue business in a much more transparent and obviously legal way with the branding of the casinos...after all of this broke both casinos have backed out of the deals with the online sites....

everyone knew they were operating with the other foot set to drop at any time but this is how the house of cards fell...

same story as the major drug operations/mafia families etc etc - greed, snitching , money laundering, tax evasion, wire fraud etc

When this all went down, one thing became obvious. PS and FT were set up by the Casinos. They were lulled into thinking that they could keep doing things as usual because the Vegas group would square things away on the legal side. I don't think that was the intention of the Vegas Casino's at all. Why share profits when you could get rid of the competition and keep it all to yourself. Especially knowing the influence/ wealth that the Vegas lobby has accumulated over the decades. 

 

[kingtre]

more info:

Real Money Transaction Processing and Currency Conversion

The User agrees and acknowledges that:

PokerStars will make reasonable efforts to ensure that deposits and cashouts are processed in a timely manner. We give no warranties regarding the amount of time needed to complete processing. We cannot be held responsible for delays in the banking networks, failures on part of the processor or actions of other parties involved in the processing of funds that may result in processing delays, reprocessing or reversal of transactions or the seizure or freezing of funds, nor will we be liable for any actual or consequential damages arising from any claim of delay or seizure.

BLACK FRIDAY ONLINE POKER INDICTMENTS — LATEST UPDATES
Steven Stradbrooke
April 16, 2011
5 Comments and 53 Reactions
This story is obviously evolving rapidly, so bear with us as we try to summarize the latest casualty figures. Meantime, here are links to the main Department of Justice documents:

READ THE DoJ PRESS RELEASE ON THE INDICTMENT

READ THE FULL CRIMINAL CHARGES

READ THE FULL CIVIL COMPLAINT

First off, looks like Sen. Harry Reid’s going to get that blackout period after all… (Sorry, too soon?)

[emoji]10006[/emoji] In the day’s least surprising news, those US land-based casino giants are all disavowing the online poker deals they struck just weeks ago. Wynn Resorts says it has “terminated

 

[kingtre]

more info:

Real Money Transaction Processing and Currency Conversion

The User agrees and acknowledges that:

PokerStars will make reasonable efforts to ensure that deposits and cashouts are processed in a timely manner. We give no warranties regarding the amount of time needed to complete processing. We cannot be held responsible for delays in the banking networks, failures on part of the processor or actions of other parties involved in the processing of funds that may result in processing delays, reprocessing or reversal of transactions or the seizure or freezing of funds, nor will we be liable for any actual or consequential damages arising from any claim of delay or seizure.

BLACK FRIDAY ONLINE POKER INDICTMENTS — LATEST UPDATES
Steven Stradbrooke
April 16, 2011
5 Comments and 53 Reactions
This story is obviously evolving rapidly, so bear with us as we try to summarize the latest casualty figures. Meantime, here are links to the main Department of Justice documents:

READ THE DoJ PRESS RELEASE ON THE INDICTMENT

READ THE FULL CRIMINAL CHARGES

READ THE FULL CIVIL COMPLAINT

First off, looks like Sen. Harry Reid’s going to get that blackout period after all… (Sorry, too soon?)

[emoji]10006[/emoji] In the day’s least surprising news, those US land-based casino giants are all disavowing the online poker deals they struck just weeks ago. Wynn Resorts says it has “terminated