Full Tilt Poker Reportedly Investigated by Grand Jury

Full Tilt Poker Reportedly Investigated by Grand Jury

Here is a link to a very interesting article http://www.pokernewsdaily.com/full-tilt-poker-reportedly-investigated-by-grand-jury-9520/

Could be bad new for us, Americans
Here part of it.

According to the Financial Times newspaper, Full Tilt Poker, the world’s second largest online poker site, is being investigated on money laundering charges. A “federal grand jury in Manhattan” had taken up the case.

The article, which was published on Monday by a Financial Times reporter in San Francisco, read in part, “A federal grand jury in Manhattan is investigating one of the largest internet poker sites serving U.S. gamblers and could bring indictments against some of the world's best known professional players, according to people familiar with the case and a subpoena issued to a witness this week.” Two poker players singled out are Howard Lederer and Chris Ferguson, whose names were brought to light in a civil suit last year as having an ownership stake in the company

WTF.


Kentucky Justice and Public Safety Cabinet Secretary J. Michael Brown, who represents the state in the ongoing squabble over the rights to 141 internet gambling domain names, serves as the plaintiff in the new case. A 14-page complaint filed on March 25th calls for the defendant, Pocket Kings (owners and operators of Full Tilt Poker), to refund the State “the amount of money lost between March 25, 2005 and September 25, 2009 by persons located within the borders of Kentucky.” In addition, the Commonwealth is seeking pre-judgment and post-judgment interest, attorney fees, and “such further relief as the Court deems just and proper.” No dollar amount is given.

http://www.pokernewsdaily.com/kentuc...esidents-9555/

This is unfortunate, but I can't say I'm too surprised by this. Online poker sites definitely are taking a risk by making games available to players in the U.S. After the passage of the The Unlawful Internet Gambling Enforcement Act, Party Poker chose to leave the U.S. market because of the risk its officers would be criminally prosecuted. The sites that stayed behind, most notably Poker Stars and Full Tilt have benefitted immensely as their businesses have grown, but they have to have known that they are risking prosecution.

Thanks guys for the links...I'm writing a paper for one of my classes about internet gambling.

And these are very interesting reads!

Good choice on your topic WVUseller! s3, and you will actually be motivoted to complete this assignment. I feel that in many ways that the site is set up, I just decides to go my way

Yeah this sucks bad, but can't say I didn't see this coming either. Too bad there's going to be some good names thrown around through the mud for a while. Whatever. Can't have any fun, haha

I suppose to some this may come as a shock but now it gets harder and harder for us american players.I would hate if anything to severe comes out of this thing.I'll tell you the names listed are big!....not good at all.

I wonder how good Chris Ferguson's and Howard Lederer's poker faces will be when they are in front of the grand jury???

LOL

You can't punish Jesus.

I am curious why there have been so few posts in response to this story.

Actually only 5 players that expressed their concern out of 129 views.

I make 6, buts will cease and desist from commenting. I have probably expressed myself too many times here already.

I think most here are tired of the continuing saga of the US efforts to stop online poker and continuing discussions about it.

Hey, at least its not as bad as the online poker rigged thread. I think I finally got away from that one even though I was entertained for quite a while.

Does anyone know how long something like this actually takes to go to court? I'm thinking at least a year....but I have no basis for that statement.

As of now I really don't think it will affect anyone. I don't think FT will change at all until the court actually makes a ruling.

i don't think it will ever stick....they will all walk,,

Damn this suck cuz i only play at full tilt hope everything works out and they stay in business.

It's all about money anyway. It's not like they want to see "The Professor" in jailhouse orange.

LOL

If this ever gets to trial, this is going to super complicated. The government is looking at RICO, the Wire Act and UIGEA violations. Plus most of Full Tilt's businesses are set up overseas, offshore and in an Indian reservation, so there is going to be jurisdiction issues as well. I'm surprised the IRS has been snooping around. All this posturing because the government can't tax Full Tilt's revenues.

(Corporations Rolling in cash) + (Your Average Attorney) = Law suit

Trust me Full Tilt has a small % alloted budget wise for these type of issues.

And if not; I want all my losses back because they used coercive advertising to lure me in and I wasn't aware of what I was doing.



Honest!

^^^

Disclaimer: I'm not an attorney (& I don't play one on tv either ).

As a reminder, a grand jury decides if there is a probable cause to indict (accuse) individuals or corporations on criminal charges based upon the evidence presented.

Even though PartyPoker exited the US market, following the passage of the UIEGA in OCT 2006, in 2009 they agreed to pay a $105M fine as part of a non-prosecution deal with the US DoJ.

IMHO, this current Grand Jury investigation is occurring @ an inopportune time -- potentially collecting a fine from Full Tilt is like killing the goose who lays golden eggs >>> in the long run, on-going tax revenue would far exceed any fines.

The Wire Act of 1961 (the basis of the 'money laundering' charges) is sorely in need of revision to include the technological advancements that have occurred since it was enacted.

As a UK citizen, I'm amazed at the fact that a simple online poker site like Full Tilt is considered a money laundering organization?

Isn't America designed to be a democracy, land of the free, etc, and surely this should mean that if people want to play poker online then they should be able to? =s

American politics and legislation is so complicated.
Wouldnt it be easier to do like us in Europe.
Have a king who decides everything.

+1 I agree 100%, it's my money, I should be allowed to do anything I want with it as I have worked for it.

^ LOL! +1

im also a uk citizen but im not amazed at all about anything the american government do to control their citizens they claim to be world leaders in freedom and democracy yet their legal system is amongst the toughest in the world even a small misdeamener that would get you a comunity service order in the uk can get you hard time their prison system is draconian an woe betide anyone who is making a buck and not giving the irs a cut..

the way some ov top player play at mega high stakes cash games that ive watched over the last few years,,on ft,,is not the way u see live cash games played on tv,,wen stakes are as high,,lets face it,,its an easy way to loose a good stake ov money to a m8 ,,then tax man cant touch ye,,so much

In defence of my countries' legal system, I understand that it is believed Professional players have accepted funds from parties believed to have acquired the same from ill-begotten means. These same pros then aledgidely "washed" the funds through the gaming sites for a fee. Again, I dont know these allegations to be acurate but thats what my aupair said she heard from the guys that does our grass.




.

I'm not worried. I believe this case will be eventually thrown out.

The UK? That's the part of the world that has to ask a rich old lady permission to do things, right? And where her qualifications are nothing more than being descended from a long line of other rich, old (now dead) people?

My point isn't to bash the UK's largely symbolic monarchy than to say that to find a government doing something stupid, one rarely needs to look beyond their own borders.

RF

The queen doesn't rule the UK. I think you need to know more about the UK to make a comment like you did. Least we don't have to pay any tax on poker winnings . And it might be banned in USA in a few years time (forgive me
if I'm wrong)

FYP

Baby, you have not seen anything yet. This new regime in Washington now is trying to get the Federal government involved in everything that every person does. It is well known the United States governement is the biggest single employer in the world. It is totally out of hand. And speaking of hand I would love to get the federal government out of my pocket.

politics are fun

if anything comes of this i'll have to find a new hobby, lol. and i play a lot of poker on FT.

On the contrary, I realize there hasn't been a true monarchy in ages and the role is nearly completely ceremonial. I don't pretend to know much about the political process on your side of the pond, but do recall the actual leader having to talk to the queen, or ask her to wave her magic wand to make things happen. My prime source of UK news is the BBC, which is on every day as I drive to work. The whole thing seems quaint and silly to me, rather like asking Liz Taylor to play a role in government.

But again, my point is not to bash the UK at all. I could just as easily throw stones at my own. My point is they ALL do stupid things. I mean really, we elected George Bush now once, but twice. Top that. ;-)

RF

Just because they keep saying it dosn't make it true. lol. Ah, but I digress.

Any company/corporation that deals with money and has millions of clients is usually a good target for some sort of legal action.

More likely than not this will end in a settlement, done in private to avoid too much media attention. Though that thing about citizens in Kentucky getting their lost money back is IMO, just silly.

You guys really have to get your shiit together down there when it comes to onlne gaming, and I think a win against the UIGEA would be a big step in the right direction. If FTP does come out of this unscathed it will help the cause immensely. Certain lawmakers are going to run out of reasons to keep it illegal eventually.

(and in case you're all wondering, yes, I am Canadian)

I havent ben able tologin to ft for the last 3 days it keeps telling me to email loginsupport@fulltilt which i have done but got no reply anyone else having probs logging in?

re-install the program. It should fix your probs!
Ciao!