Assets of Online Poker Money Processors Seized in USA

Published Friday, October 14, 2011 -

Just when poker players and operators thought it was safe to go back in the water, the USA has again dropped the hammer on another couple of payment processors. The Greenville South Carolina US Attorneys Office and the Secret Service have seized the assets of two international money processing firms. The announcement points to over $2m in “criminal assets” from Prime Investment Ltd. and Trading 24/7 Ltd. whose principals are accused of illegally processing transactions associated with online poker operators.

Bill Watkins the assistant the US Attorney has said the operators processed more than $40 million during October 2010 and February of this year. It has been alleged that the processing firms routed the transactions so that the actual source of the money could not be known. While there is speculation that the poker firms are known that was not revealed during the announcement.

Thomas Griffin an agent with the US Secret Service which is now part of the Department of Homeland Security, has said the investigation was an ongoing nationwide endeavor. He continued to say, “ many of the online gambling sites were set up in South Carolina.”
After tracking he transactions officials said they contacted South Carolina residents to whom the funds were traced. The players confirmed the money was connected to online poker winnings.

The Unlawful Internet Gambling Enforcement Act has been violated said, US Attorney for the District of South Carolina Bill Nettles adding that other federal laws that deal with fraud and money laundering have also been breached. The USA continues to crack down on online poker in its efforts to wipe the slate clean and get on with legalizing and regulating online gambling in America. The government and its police enforcers are focusing on the money processors’ “dubious business activities,” and not on players at least for now.

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