Federal prosecutors freeze $33 million owed to online poker players

June 10, 10:43 AMOnline Poker ExaminerSteven Ruddock

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The rumors have turned to fact in the ongoing saga between the US Attorney's Office in NY and online poker.

It turns out that federal prosecutors have asked four American banks to freeze $33 million owed to online poker players. This is a surprising move, since playing online poker is not technically illegal, and it's the players' funds that have been frozen. At this time it is unclear what law would cover the confiscation of players' funds, as opposed to the online companies' money.

The executive director of the PPA, John Pappas, told the NY Times: "prosecutors in the last two weeks have asked Citibank, Wells Fargo and two smaller banks to freeze funds in accounts belonging to two companies, Allied Systems and Account Services, that process payouts on behalf of the poker sites."

Mr. Pappas went on to say, "online casinos have assured their patrons will be payed what they are owed." Two of the largest online poker rooms --Full Tilt and Poker Stars-- have been caught up in the investigation.

The US Attorney's office has declined to comment on the matter.

Read more of Steve’s articles at RUFFPOKER.COM