Pokerstars, Absolutepoker, Ub and Fulltilt Seized By Doj

**vinylweatherman** · 26th April 2011, 09:21 PM

Originally Posted by pokeraddict

I don't think AP/UB players will ever see any substantial amount of their deposits. They have cut non US player cashouts down to $250/wk and are not letting US players request them. They are still allowing US players to play for real money even though the lobby says (said?) they cannot. My guesses are either the software isn't capable of it or the need to rake US players outweighs the legal need to ban them. I hope I get proved wrong but I think the run on the bank and the feds have exposed a ponzi scheme.

This is a clear indication of how severely they have been affected. Non-US play is perfectly legal, and so there should have been NO changes to their terms because of an action targetting only the US market. It probably shows they don't have the funds to cover the balances of even the non-US players, let alone the US ones, and are trying to avoid non-US players from bailing out faster than they can make the rake to pay them. They may be letting US players carry on playing with their balances in the hope that rake will transfer the money from US players to themselves in accounting terms, and also because the loss of US players will make the room pretty "dead", and unappealing to the non-US player.

Non-US players should withdraw the max allowed each week, and find somewhere else to play, just in case this seizure does end up driving them to the wall.

**pokeraddict** · 2nd May 2011, 11:26 PM

I received my PokerStars cashout today. Full Tilt still has not started U.S. cashouts and seem to be slow paying non US players. AP/UB has paid quite a few non US players their $250 one time but I have not seen anyone report getting a second payment.

Also their $250/wk depends on how long they take to cash you out. For example if you cash out on May 1 and they take until May 8 to pay you then you still have to wait 7 days after that payment was processed to request another one. U.S. players can still play there but cannot deposit, cashout or transfer. I think AP/UB chips are worth about 10-20 cents on the dollar.

**pokeraddict** · 2nd May 2011, 11:42 PM

By he way here is an interesting story in the St Petersburg Times about unhappy AP investors and their shell games.

http://www.tampabay.com/news/busines...cle1166818.ece

**silcnlayc** · 4th May 2011, 03:18 AM

May 3, 2011

xxxx

Dear xxx:

Thank you for contacting me about your support for Internet gambling. I appreciate your taking the time to share your thoughts on this matter with me.

This issue is currently the subject of legislation before Congress. Introduced by Representative John Campbell, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act (H.R. 1174), would create an exemption to the ban on online gambling for properly licensed operators, allowing Americans to lawfully gamble online.

Gambling is currently illegal in the United States unless regulated by the states. However, with the development of the Internet, prohibitions and regulations governing gambling have been circumvented. The tremendous amount of gambling websites from the Caribbean and elsewhere are unlicensed, untaxed, and unregulated by any state, and thus potentially violate all 50 state laws in which they are available. These offshore gambling businesses are often fronts for criminal and money laundering enterprises.

H.R. 1174 has been referred to the House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit. I will keep your thoughts in mind should this bill come before the House of Representatives for a vote.

As your Representative in Congress, I appreciate your input in this matter. As always, if I may be of assistance to you on this, or any other issue, please feel free to contact me in my Washington DC office at (202) 225-6365 or online at http://randyforbes.house.gov. With kind personal regards, I am

Yours truly,

J. RANDY FORBES
Member of Congress

JRF:CH

**pokeraddict** · 4th May 2011, 04:33 AM

AP Update

1. They emailed all of their employees yesterday to tell them they were getting laid off and not to come in today

2. Today AP cleaned out their Costa Rica office

3. Blanca Games told their bond holders described here:

http://www.tampabay.com/news/busines...cle1166818.ece

that they would not be getting any money and the company was broke and to file bankruptcy

4. Non US players have not received more than 1 $250 cashout, many have not even received the first one

5. Nobody has been on VIP support chat or phone

6. No support emails got replied to today

I think it is safe to say that AP/UB is no more even though they are technically still open.

**jetset** · 4th May 2011, 08:46 AM

I believe that this statement from Blanca Games tends to confirm pokeraddict's post above:

HARD TIMES FOR CEREUS ONLINE POKER GROUP (Update)

Online poker provider exits US market, downsizes

Amid independent reports that its traffic has dropped off dramatically since Black Friday, the Cereus network, owned by Blanca Games Inc., has issued a statement confirming it is experiencing tough times.

The company's statement advises that its internet poker subsidiaries Absolute Poker.com and UBPoker have now exited the US market "...due to recent legal developments in the United States."

The announcement advises interested parties that the company is currently restructuring and will focus its remaining resources on consolidating its non-U.S., operations and software business.

"Unfortunately, this also means an immediate need to downsize and streamline operations significantly at both online poker rooms, with a view of becoming more efficient in the way the business is conducted," the statement continues.

"Today’s decision has not been made lightly, or in haste. It comes after considerable review and analysis of the impact that ‘Black Friday’ has had on the business as a whole. All affected employees have been informed of this necessary restructure, and staff will be reduced across several areas of the business."

A company spokesperson added: “We regret that we have been compelled to take these actions. We have worked tirelessly to create a truly amazing company that is filled with extraordinary people. We have always been and still remain fully committed to our employees and players. At the same time, we are confident that this restructuring will strengthen the company and its future.”

The company’s legal counsel is in continuing discussions with the U.S. Attorney’s office to formalise an agreement that would facilitate the return of funds to U.S. players.

The spokesman promised that further information and timely updates will be provided to players as the situation develops

**pokeraddict** · 4th May 2011, 08:51 AM

They keep saying that they are leaving the U.S. market but U.S. players still play there. This is going to be an interesting next few days.

**lots0** · 4th May 2011, 04:01 PM

You know as much as I want too, I just can't bring myself to defend the A-holes at AP/UB.

I don't like what the DOJ has done or how it has gone about it... But, you know I keep thinking, this couldn't have happened to a more deserving group.

The only thing better would be to see Tom Scott and his cheating buddies in jail.

**MJackson** · 5th May 2011, 10:45 AM

Some pretty perspicacious posts ITT Poker Addict! I kinda hope you're at least wrong about them going completely under and taking everyone's money down with the ship though.

I remember laughing out loud, hysterically, a few years ago when I heard about their 12% interest bearing poker account. Who would be crazy enough to keep $500, much more $50,000 in that Guatemalan sinkhole of a poker room, I asked myself. Not only was the offer too good to be true, it so reeked of an outright scam its offering well may have overcome Bernie Madoff with guilty inhibitions.

I don't like what the DOJ has done or how it has gone about it... But, you know I keep thinking, this couldn't have happened to a more deserving group. The only thing better would be to see Tom Scott and his cheating buddies in jail.

Anyone else catch this thread over at four

http://forumserver.twoplustwo.com/29...tirade-962085/

Seems he is doing shamefully fine.

**3mptyseat** · 5th May 2011, 12:22 PM

I got my pokerstars monies paid out yesterday... Funny that Stars should be actually targeted by the DoJ and others, Villento for example, who owe me a similar amount, be only 'scared' out of the marketplace whilst claiming to have processed my w/d on the 14th meanwhile Pokerstars couldn't even begin processing the amount until last week and yet I have no funds from Villento nor a reasonable timeframe for the $'s delivery... Anyways...

@MJ: Classic thread about that scum, Russ Hamilton... Its amazing that he seems to have a friend base in the older, golfing/live poker crowd (lol, who knew), most of whom, I am sure, do not play online poker and who must have a bad opinion of online cards or be completely out of touch with the history of poker in general since 2007, to give that sob anything but the hardest of times...

Anybody else wonder if there were not some tip offs to a few of the biggest names? Hellmuth and Duke abruptly leave UB, Cake loses Lee Jones, I'm sure there are other examples, and just bc x preceded y, doesn't mean x caused y, but maybe...