• State of Washington Seizes $553K From Online Payment Processor

    02 November 2010

    Newspaper

    It didn’t take long after the Sept. 23rd decision by the state of Washington’s Supreme Court that their ban on online gambling did not violate the U.S. Constitution for their federal prosecutors to seize $553,000 from Secure Money, Inc.

    Prosecutors asked a U.S. District Court judge to order the balance of 6 bank accounts they say are associated with the Canadian company to be forfeited to the government. According to a civil complaint filed on October, Secure Money, Inc. was paying payments to online poker players and labeling them as “payroll” checks.

    In court documents, 7 Washington residents was said to have received payments through Secure Money, Inc. In January 2009, an undercover agent with the state Gambling Commission began playing at Ultimate Bet. In July he requested a payment of $200 and received a check from Secure Money, Inc.

    Assistant U.S. Attorney said in the civil complaint:

    Secure Money, Inc. distributed checks on behalf of illegal websites that host gambling activity. Processing checks that represent the funds derived from illegal gambling … constitutes a violation of the money laundering provisions.

    The Poker Player’s Alliance executive director John Pappas is working on appealing the law. Pappas believes that a legislative route is the best chance to overturn the law and not go to the U.S. Supreme Court.

    “It would be a big challenge just to get the U.S. Supreme Court to hear it, and then if they did hear it I don’t know if there’s enough on record for a decision the PPA and its members would like,” Pappas said.

    Currently in this case, a seizure warrant has been issued but so far there has been no criminal charges filed.

    Related News

    • 30 December 2018

      Gambling Taxes in Italy See Big Jump, Playtech's Earnings Fall

      The taxes that gambling operators and software companies have to pay in a given jurisdiction are one of its biggest expenses. This means that even a relatively small shift in those rates can cause some major changes in what can be expected for business. This has recently been the case in Italy where their Senate has been working on a proposed budget for the following fiscal year, and this budget includes some unexpected increases to the taxes on gambling businesses.

      Read full article
    • 23 December 2018

      Spanish License Application in for Gaming Innovation Group

      Gaming Innovation Group has announced their application for a license to operate in Spain. They're looking to make an entrance into the Spanish market in 2019 with this application, and there's very little doubt that it will be granted. This is a pretty significant move for the company as they expand and get their offering in front of new players. About the Spanish Market

      Read full article
    • 23 December 2018

      Cherry AB Receives Eight Licenses for Swedish Online Gambling

      The Swedish Gambling Authority has been processing applications over the past several weeks for its upcoming regulated market that starts on January 1, 2019. This is a pretty big deal for online gambling in Europe as a whole, and Cherry AB has put themselves into a strong position with eight difference licenses being granted for operating brands within Sweden's borders in the new year as a part of this newly regulated jurisdiction. Size of the Swedish Market

      Read full article