Paradise Poker chairman arrested in US

[MagCFO]

why was the idiot in the US, if that's where he was nabbed.

[excession]

Listed in UK, based in Costa Rica - not easy to transit without going thru US really - and of course he will have flown it hundreds of times before.

I'm sure from now on all poker/internet casino/sports-betting company execs will make an extra effort to ban US cutomers or stay out of US...

So far they are attacking companies that run a sportsbook...but remember the Justice Dept. claim onlinepoker is illegal too - and that's why Party just lost 12% of its cap this morning..

Amazing country the US - you can buy prescription medication, guns and hardcore porn online and yet you commit a federal offence by making a $10 bet on an NBA match.....

[DeeJ]

I tried to buy a can of beer at a regular store in Plano, TX and was told I couldn't because although I could prove my age, I didn't have a club membership [img]/images/graemlins/confused.gif[/img]

[jrz1972]

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Hopefully not a lot of you US guys hedged your Mansion free bet at Paradise...

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Well, I did hedge there. [img]/images/graemlins/frown.gif[/img]

For those that followed the BOS thing more closely than I did, what are the odds that I never see those funds again?

[EricFlyingMidget]

"Well since we can't catch Osama Bin Laden the govt. will just work on catching poker players instead. God the US is the worst funking country in the civilized world. Pathetic."

They have caught/killed Bin Laden already but will never reveal it. Bush needs him as his terro boogeyman. Btw, they have killed the `10 million #2 guys in Al Queda now by my count.

[arcticfox]

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Hopefully not a lot of you US guys hedged your Mansion free bet at Paradise...

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Well, I did hedge there. [img]/images/graemlins/frown.gif[/img]

For those that followed the BOS thing more closely than I did, what are the odds that I never see those funds again?

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Its a £1 bn ($1.9 bn) market cap company pre today's announcement, has a lot of UK accounts as well as US one (maybe more UK and Europe actually) so can't see them being stopped from returning US player's funds. Bigger risk is that they make all US player's bets void from today as part of a deal with DoJ which means you could get your stake back but the hedge falls away. However they could also end up with a huge fine and given player's accounts are not segregated then your money is at risk if the company were to file as a result of the fine or loss of business.

Pokerstar's policy of keeping your cash segregated with Royal Bank of Scotland makes me feel like its the only site I want to keep my cash with whilst all this litigation continues.

I suspect though that your cash will be fine given the size of Sportingbet's UK, European and Asian franchise which will be unaffected by any actions of the DoJ as sportsbetting is legal in the UK and most European jurisdictions.

[jrz1972]

Thanks. My understanding is that BOS was basically forced into insolvency, but that seems pretty unlikely with Sportingbet.

With my luck, all our funds will get confiscated at Paradise, Mansion will turn out to be an elaborate scam, and I'll be out ~$1600. BBV. [img]/images/graemlins/grin.gif[/img]

[mackthefork]

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Holy crap - this is major news folks. Maybe the US realizes this legislation is doomed and is trying to instill the idea (to US players) that their money isn't safe and can be frozen or confiscated anytime. Scary. What was this guy doing in the US?

Jeff

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Sportingbet is a multi billion dollar company listed on the LSE, this is equivalent to Bill Gates being locked away in the UK, for selling software. The US is retarded.

Mack

[Tk79]

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The US is retarded.

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[RikaKazak]

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The US is retarded.

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The US is HELLA [censored] RETARDED!