Normally we wouldn\’t think much of a thread on 2+2 about some withdrawal problems at a major American-friendly online site. Usually these problems get resolved in a matter of days or maybe weeks, but this time something\’s different.
Developing …
We\’ll hold off on saying too much until we get more solid information, but basically, checks from PokerStars are \”bouncing\”, particularly with New York banks. Instant E-checks seems to be the payment processor most notably affected at present. However, it\’s not just e-checks … paper checks are proving uncashable, too. Reliable sources tell us that this is not just a little snafu, but that it\’s the direct result of DOJ enforcement actions somehow connected to the Federal Court in New York\’s Southern District.
This is the same court, of course, that handled Neteller way back when, and more recently came to non-prosecution agreements guilty plea settlements with Anurag Dikshit et al. While the Party Poker dudes are officially in the clear,* is it possible the Feds are now saying, hey, that was fun, and we got a lot of money … let\’s try it again with those PokerStars guys!?!
The FBI offers more clarity on who\’s agreed to what between Party Poker peeps and the Feds here.
The best I can tell, right now Stars seems to be the target. No confirmation on the fates of Full Tilt and UB payment processing.
UPDATE: Problems at Full Tilt, too. (Thanks, Ken, for the info/link!) And Ultimate Bet.
Regardless, whatever shakes down (pun intended), it raises a lot of questions at an interesting time, considering how much big money gets transfered passed between poker players — particularly in the summer — often on an online site in exchange for casino chips and/or bricks of cash.
Might the value of the Euro have just gone up, at least in the poker economy? Seems plausible if they\’re the only ones able to convert online bankrolls into real American WSOP buy-in dollars.
* Cases against (with?) two other Party principals, Ruth Parasol and Russ DeLeon, are still pending in the same court.
