The Department of Justice Releases Some of PokerStars' Frozen FundsPokerStars Is Forced To Leave $5.5 Million In The Unfrozen Account |
|
According to eGaming Review, the United States Department of Justice has released an undisclosed amount of frozen PokerStars assets from the Hapoalim Bank in Luxembourg.
The bank is tied to Sphene International Limited, a financial institution named in the Black Friday indictments and responsible for PokerStars payments.
It is unknown how much money was released, but a press release explains that “the Government and PokerStars have reached an agreement pursuant to which PokerStars consents to the restraint of US $5.5m in the account… and the Government agrees that it does not object to PokerStars’ use of the remaining funds in that account.”
The release then goes on to say that that the $5.5 million remaining in funds was “derived from online poker play for real money in the United States.”
PokerStars has bounced back from Black Friday by paying out nearly $125 million to their customers. Full Tilt Poker, meanwhile, has yet to start processing cash out requests and is said to owe somewhere in the neighborhood of $150 million.
Last week, attorneys representing Full Tilt Poker in a class action lawsuit against the company filed a motion to withdraw, citing an unreasonable financial burden to the law firm. Full Tilt Poker will have a hearing on Sep. 19 with the Alderney Gambling Control Commission (AGCC) to determine whether or not the site will regain its operating license.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
