poker stars,daniel negreanu and phil ivey busted on poker site crackdown !!

[tech fan]

Chunghwa dont think they were arrested think it was only the owners and the bosses that were finding ways to mislead the banks.Phil and Daniel fan always say as far as I knew they were doing things legitimately

[ToDaClub]

I thought that was your schedule minus the P90X and Poker...

We play our fair share of sit and go's after Golf. It appears he goes to bed a little early though.

[kbsooner21]

I love his schedule, up at noon, I guess I would skip the P90x thing and just head to the golf course though

I thought that was your schedule minus the P90X and Poker...

[ToDaClub]

do you have any specifics on his police bust ?

Couldn't find anything on it except he says he's not to comment on it.

Yours truly,

Club Investigations

[WayneChung]

I love his schedule, up at noon, I guess I would skip the P90x thing and just head to the golf course though

do you have any specifics on his police bust ?

[ToDaClub]

I love his schedule, up at noon, I guess I would skip the P90x thing and just head to the golf course though

[ToDaClub]

Here's Daniels blog posting from yesterday


Full Contact Poker : Your online poker community

[WayneChung]

just heard this news guys,both these guys were part-owners in one of the sites that got popped,will send more details as they occur,but fact-these guys were booked in jail yesterday i believe,anybody with more details please share .

anybody with more specifics on these two guys ??

[Spark]

just heard this news guys,both these guys were part-owners in one of the sites that got popped,will send more details as they occur,but fact-these guys were booked in jail yesterday i believe,anybody with more details please share .

The U.S. Attorney for Manhattan announced Friday that 11 people, including the persons who founded the three biggest online poker sites doing business in the U.S. -- Pokerstars, Full Tilt Poker and Absolute Poker -- had been indicted for alleged violations of federal laws that make it a crime for gambling businesses to "knowingly accept" most forms of payment "in connection with the participation of another person in unlawful Internet gambling." The indictment seeks an aggregate of at least three billion dollars in penalties and forfeitures from the individuals and the three sites.

The indictment alleges the defendants used "fraudulent means" to trick various banks and credit card issuers to process billions of dollars of payments that, unbeknownst to the banks and credit card companies, were generated by unlawful internet poker games. It is also alleged that several of the sites bribed banks to process their unlawful transactions, which also would violate federal law.

The sites have been closed in the U.S.; an attempt to log onto any of them leads only to an FBI warning that the site has been shut down. Of the eleven named individual defendants, eight are not now in the U.S. and have not yet been arrested; the other three either have been arrested or have arranged to surrender to authorities.

No Allegation that the Poker Sites have Stolen Money from Anyone

Online poker sites, just like gambling casinos operating legally in the U.S., generate revenue by taking a "rake," a small percentage of the amount wagered on each hand. The U.S. Attorney's announcement implies that hundreds of millions, and possibly billions of dollars, were raked by the three poker sites. There is, however, no allegation that the sites stole money from any bank or credit card issuer, or from any poker players in the U.S. or anywhere else.

The government's action in closing down the sites will probably cause U.S. players to lose access to any money they may be owed by the sites, at least for the foreseeable future. Without internet access to their accounts, it is hard to see how players can be paid what they are owed. All of the eleven indicted individuals are involved in the ownership and operation of the poker sites; no one has been indicted simply for playing poker on the sites.

Many Famous Poker Players Affiliated with the Three Sites

The indictment is sure to be an embarrassment to some of the most famous names in poker who are affiliated with the three closed sites. For example, Howard Lederer (the "Poker Professor") and Phil Ivey , two of the biggest names in poker today, were both associated with Full Tilt Poker at the time the indictment was announced (although those associations may soon end). Similarly, PokerStars numbered Daniel Negreanu, Chris Moneymaker, and Joe Hachem among their stable of affiliated players.

Brick and Mortar Casinos May Benefit

On the other side of the ledger, it may well be that brick and mortar casinos may see an increase in their poker room traffic as a result of the shuttering of the online sites. Some of the millions of U.S. poker players who frequented the online sites will no doubt be itching to find a game somewhere, and real live casinos in Nevada, Atlantic City, on some Indian reservations, and elsewhere around the country would seem to be likely places to scratch the itch. So, almost certainly without intending to do so, the U.S. Attorney in Manhattan might have just given a big boost to the law-abiding part of the gambling industry.

[WayneChung]

just heard this news guys,both these guys were part-owners in one of the sites that got popped,will send more details as they occur,but fact-these guys were booked in jail yesterday i believe,anybody with more details please share .