The Money Seizure Saga Continues for Full Tilt Poker and Poker Stars
Not too long in the past, the seizure of $30 million in funds from Full Tilt Poker and Poker Stars made headline news all over the internet. The fact that the government felt that they had the right to step in and seize that kind of money caused outrage on many fronts. That is outrage that still exists today.
However, one thing that has not changed since that fateful day is the fact that the money seizure still stands. Both Poker Stars and Full Tilt Poker have given money back to players and absorbed the losses themselves. However, the $30 million hit is definitely one that hurts, even for the two largest online poker sites in the business.
The saga went forward a bit when Account Services was indicted as being a company that violated the UIGEA by accepting and transferring funds to online gambling institutions. Despite current legislation in the Senate that might change such things, as of right now the activity of online poker is still considered online gambling for the purposes of the UIGEA. Douglas Rennick was the specific individual indicted and continues to face charges and a hearing in court because of the indictment.
One of the main problems with this case from the point of view of the media has to be the lack of available information. The warrant application that was filed in order to arrest Rennick is almost entirely redacted. There are some sections available, but those do not shed much light on the case that the state thinks it has. The meaningful information that would really help the public understand what is going on here has been held back on purpose. In a way, this is understandable given the history of secrecy on the part of the three levels of government on this particular issue.
The only thing that can be noted from the parts of the warrant application that are not redacted is that both Full Tilt Poker and Poker Stars figure heavily into the warrant application. Only the court session will determine if this is indeed significant information.













