U.S. enters domain-name use agreements with two online poker companies

[News_Editor]

U.S. enters domain-name use agreements with two online poker companies

2011-04-20 23:14:12 GMT+7 (ICT)

NEW YORK (BNO NEWS) -- The United States on Wednesday entered into domain-name use agreements with PokerStars and Full Tilt Poker, two companies named in a civil money laundering and forfeiture complaint, prosecutors said.

The complaint alleged bank fraud, wire fraud, money laundering, and illegal gambling offenses. In addition, a restraining order and an indictment were issued against multiple bank accounts used by three poker companies.

"This Office and the FBI took specific legal action against 11 individuals who allegedly engaged not merely in the operation of illegal gambling businesses, but in massive wire fraud, bank fraud, and money laundering, despite repeated warnings and clear notice that their conduct was illegal in the United States," said Manhattan U.S. Attorney Preet Bharara.

The agreements entered on Wednesday will facilitate the return of money so that players can register their refund requests directly with Pokerstars and Full Tilt Poker. No individual player accounts were ever frozen or restrained.

"We expect the companies to return the money that U.S. players entrusted to them, and we will work with the poker companies to facilitate the return of funds to players, as today's agreements with PokerStars and Full Tilt Poker demonstrate," added Bharara.

Under the agreements, PokerStars and Full Tilt Poker were allowed to use the 'pokerstars.com' and 'fulltiltpoker.com' domain names to facilitate the withdrawal of U.S. players' funds held in account with the companies.

In addition, the two companies agreed not to provide the ability for players located in the United States to engage in playing online poker for 'real money' or any other thing of value.

The deposit of funds by U.S. players is expressly prohibited but the agreements allow for the two poker companies to provide for, and facilitate, players outside of the United States to engage in playing online poker for real money.

An independent monitor will be appointed in order to verify PokerStars' and Full Tilt Poker's compliance with the agreements. The third company implicated, Absolute Poker, is expected to enter a similar agreement in the near future.

On April 15, an indictment was unsealed charging eleven defendants, including the founders of the three largest Internet poker companies doing business in the United States with conspiracy to commit bank and wire fraud, money laundering and illegal gambling offenses.

A civil complaint was also filed against the three companies, their assets, and the assets of several payment processors. In addition, a restraining order was issued against multiple bank accounts used by the fore mentioned companies.

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