OPTIMAL TO HOLD DEPOSITS FROM ONLINE GAMBLING
18 May 2007
Warrants of Seizure for millions issued by US
Attorney's office
Judging by a press release from the listed Optimal Group
Inc. this week it appears that the parent company for
processors like FirePay has been under pressure from the
U.S. Attorney's Office in the Southern District of New
York relating to its ongoing investigation of the U.S.
Internet gambling industry.
The company has initiated discussions with the U.S.
Attorney's Office and is in the process of responding to
a "voluntary request" for information issued by the
authorities, the release informs interested parties.
Optimal Group has received a copy of warrants of seizure
issued by the U.S. Attorney's Office against funds of
certain payment processors on deposit with two U.S.
banks. These funds include monies on deposit to the
credit of Optimal affiliates, namely, approximately $4.2
million that FirePay Limited has on deposit in a reserve
account and approximately $15 million that Optimal
Payments has on deposit in a money market account.
Through counsel, Optimal has been assured by the U.S.
Attorney's Office that the issue of the warrants does
not impact in any way upon its discussions with the
enforcement officials, or upon any eventual outcome of
those discussions. What that means is not clear from the
release.
Optimal Group Inc. is a payments company with operations
primarily in North America and the United Kingdom.
Through wholly-owned subsidiary Optimal Payments, the
group processes credit card payments for Internet
businesses, mail-order/telephone-order and retail
point-of-sale merchants, and process electronic checks
and direct debits online and by phone.
Online Casino News courtesy of
InfoPowa
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