Feds Seize Millions From Online Poker Accounts in Washington State

by Lou on January 10, 2011

Federal prosecutors in the state of Washington seized millions of dollars of online poker funds, according to a piece in Forbes. They report that “nearly $8 million” was taken from accounts used for processing payments from online poker rooms.

The story in Forbes, dated January 5, 2011, says, “According to four civil forfeiture complaints filed in federal court in Seattle since October, federal prosecutors have moved against cash sitting in accounts at Bank of America, JPMorgan Chase & Co., Wells Fargo & Co. and SunTrust Banks, belonging to payment processor firms like Arrow Checks, Secure Money, Etegrity Processing, Anaya Trading Solutions and Blue Lake Capital Management and Logistics.

“The cash grab is the latest move in the Justice Department’s battle against online poker and comes after Washington’s State Supreme Court in September upheld a 2006 state law that made it a felony to play online poker for money in the state of Washington.”

Since the State of Washington passed legislation making it a felony to play online poker, the last challenge to that law was dropped a month or so ago, and both Full Tilt and PokerStars pulled out of the Washington State market, DOJ felt the time was right to strike.

The full story can be read here: http://blogs.forbes.com/nathanvardi/2011/01/05/feds-quietly-freeze-online-poker-cash-in-washington/

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