PrepaidATM connected to Unified site manager

[mary]

Author Topic: Mary worried about Prepaid ATM
The Original Mary
Member posted 08-16-2002 02:37 PM
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I know this isn't going to make me popular, but I want players to be aware of two things about Prepaid ATM.
1. Banking and financial institution regulations do not apply. I can find no assurances of financial solvency or record keeping that would be required of such institutions.

2. Only online casino sites, and few of those, use this service. This indicates to me that it is a business expressly set up for online casino transactions.

I'm not an attorney. But I don't see this business adhering to any oversight any more than does the average online casino...and, as an online gambling centered business headquartered in the USA, they could be vulnerable to having their assets held during any law enfrocement investigation, for example, looking for money laundering.

My personal opinion is for players to not use this service. This is my opinion only and does not reflect the OPA, my friends, family, church, or political party.

If anyone has information otherwise to my assertions here, I welcome that it be posted.

If your opinion is that I'm being a meanie and judging someone as guilty without evidence etc.--hey, financial handling, bank service, investment advice, etc. are not things to screw around with in the US.

IP: Logged

The Original Mary
Member posted 08-16-2002 02:45 PM
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PrepaidATM.com is registered to Allen Ross in Ohio.
Here's an interesting bit of info from The Prescription:

Allen Ross, a co-manager of Island Casino, was one of the original pioneers. He plead guilty to a reduced misdemeanor charge and is not permitted to leave the country. He gave up his involvement with Unified Gaming, a gambling software platform based out of San Jose, Costa Rica, back on April 1, 2001.

"I have not been in involved with Unified since April 1. The only involvement I have is sitting on an advisory board, which determines new products and future plans," according to Ross, who now resides in Akron, Ohio.

Ross was the last to turn himself in to authorities, excluding those still on the lamb. Ross, like Bob Dole, is a big Britney Spears fan, though he uses the excuse "I've been taking my 12-year old son to see her in concert". Sure you have! And Bob Dole's dog is the only one with its tongue out in those Pepsi commercials too. Just admit it, we all love Britney!
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Anybody want to make bet on how many Allen Rosses there are in Ohio with an interest in online gaming?

 

[mary]

This is from World Gaming's 20-k.

The yourteller.com service, for example, being a transfer of funds between the US and Lebenon, could well be subject to the Patriot Act.
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We derive most of our revenues from the revenues of our licensees, which
are directly dependent on the amounts of funds deposited by their customers. A
substantial portion of these deposits are made by credit cards. Many issuing
banks of the major credit cards, Visa and MasterCard, like MBNA, Bank of America
and Chase Manhattan Bank and Citibank have announced that they will decline
authorization to Americans who try to use their credit cards for online gaming.
Non-U.S. Banks processing the online gaming transactions can become targets of
the U.S. criminal proceedings under the newly enacted Patriot Act. The
jurisdiction of the United States now extends to all non-U.S. banks that have
correspondent accounts in the United States. United States can freeze the
non-U.S. bank's U.S. correspondent account, if that bank is processing U.S.
gaming transactions or holding operating funds or the profits of an operator
accepting U.S. wagers, because the U.S. Justice Department currently views all
offshore gaming funds as tainted, and all offshore gaming as illegal. This
creates a disincentive to the banks to process online gaming transactions and
could adversely impact the revenues of our licensees.