Served with Search Warrant


Ueber Meister Mouse
Sep 12, 2004
If this has already been posted here somewhere, forgive me.

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Served with Search Warrant
By Kirsi Bertolini
Published Oct 11, 2007
According to the California-based online horse gambling website, was served with a federal search warrant recently. The SEC filed a document October 9, stating that officials from an affiliate agency of the U.S. Department of Homeland Security performed the search warrant at the wagering company's Woodland Hills headquarters.

According to the filing search warrant involved different types of records, including IRG records related to the wagering activities of certain customers, is a sole owner of the off-shore wagering entity IRG. Not all details from the Las Vegas investigation by the U.S. Attorney's Office have been disclosed as of now but it is believed that this investigation also includes at least one other off-shore gambling company not related to and maybe others.

Immigration and Customs Enforcement is "responsible for eliminating vulnerabilities in the nation's border, and with economic, transportation and infrastructure security" stated in its own website. There is four law enforcement divisions in ICE and other support divisions according to their website. clarifies in the SEC filing that it does not believe to be a "target" of this investigation and is "cooperating with U.S. government in investigation".

On October 10m, gave a following statement: " is assisting the U.S. Immigration and Customs Enforcement agency, the Department of Homeland Security and the U.S. Attorney's Office in an investigation involving several individuals. To that end, provided documents to officials as part of a search warrant that was served at company headquarters last week." ... if you follow the link there's a second page...


Dormant account
Sep 14, 2001
North of Pluto
Here is a bit more on this:

It is important to note that federal authorities indicated that no employees or subsidiaries are the focus of this inquiry. Further, has not been accused of any wrongdoing whatsoever. is making all of the required disclosures and notifications to the U.S. Securities and Exchange Commission and the Board of Directors regarding this issue. Going forward, will continue to assist authorities as it has done since last week.

The SEC filing also contained the first public comments by the company regarding a federal lawsuit filed Sept. 19 against Youbet by Colonial Downs and the Virginia Horsemens Benevolent and Protective Association. Youbet said it disagrees with the complaints allegations, including its claim that the company is operating without
a required ADW license in Virginia and hasnt paid source market fees.

Youbet said it will vigorously defend itself against the lawsuit and continues to accept wagers from Virginia residents.

In Oct. 10 trading on the Nasdaq market, Youbet shares closed at $1.48, a drop of 26%