TARP Used as Weapon Against Banks

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The United States Attorney's Office for the Southern District of New York has snagged a further $733,000 from an Arizona - based bank allegedly involved in clearing financial transactions for global poker giant, PokerStars.com.

The forfeiture by Scottsdale's Goldwater Bank, announced by the USAO for New York's Southern District last week, follows directly from the same office's recent receipt of monies from payment processor Allied Wallet, Inc. and further underscores the continuing focus on payments mechanisms in US Department of Justice enforcement activities against online gambling sites.

While the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA) outlawed payments involving illegal online gambling, the DOJ has subsequently tended to lean more heavily on other statutes to pursue gaming payments activities.

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Published In: Administrative Agency Updates, Communications & Media Updates, Criminal Law Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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Sanford Millar
Law Offices of Sanford I. Millar

Experience and Qualifications: Over 30 years of experience in domestic and international tax... View Profile »


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