http://www.billrini.com/2009/06/13/gov-seizes-funds/ The Bill Rini Poker Blog Fri, 30 Jul 2010 02:16:56 +0000 hourly 1 http://wordpress.org/?v=3.0 http://www.billrini.com/2009/06/13/gov-seizes-funds/comment-page-1/#comment-4344 Rob C Mon, 15 Jun 2009 17:40:30 +0000 http://www.billrini.com/?p=2304#comment-4344 What people seem to be forgetting and the US Attorney loves to conveniently forget to mention. This $30 million was not "Seized" it was merely "Frozen" pending a criminal process. They have had the funds "Frozen" pending investigation of a violation of the Wire Act and "Money Laundering" charges not violations of the UIGEA. The Wire Act charges will be easily set aside. The Money Laundering charges could be more difficult depending on how they are worded but should eventually be set aside as well. "Frozen" assets still continue to accrue interest since they are still in the bank. I just hope Stars and Tilt had some sort of interest bearing accounts. What people seem to be forgetting and the US Attorney loves to conveniently forget to mention. This $30 million was not “Seized” it was merely “Frozen” pending a criminal process. They have had the funds “Frozen” pending investigation of a violation of the Wire Act and “Money Laundering” charges not violations of the UIGEA.
The Wire Act charges will be easily set aside. The Money Laundering charges could be more difficult depending on how they are worded but should eventually be set aside as well. “Frozen” assets still continue to accrue interest since they are still in the bank. I just hope Stars and Tilt had some sort of interest bearing accounts.

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