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Thread: Absolute Poker next? Government and AP reportedly agree to liquidate assets

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    Owner Dan Druff's Avatar
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    Absolute Poker next? Government and AP reportedly agree to liquidate assets

    http://www.bloomberg.com/news/2012-0...ettlement.html

    Absolute Poker, an Internet gambling website, agreed to forfeit assets in a settlement of U.S. claims that the company conducted illegal online wagering inside the the country.

    The forfeiture will include deposited funds, receivables, hardware and intellectual property, according to court papers in the government’s lawsuit filed today in Manhattan federal court.

    Assets such as the database of Absolute Poker players are likely to “substantially decrease in value if not sold soon,” according to court papers filed by Manhattan U.S. Attorney Preet Bharara’s office.
    Here is the document filed today:

    http://www.scribd.com/doc/101644513/...H-Cowley-Re-AP

    Basically they're going to liquidate all of AP's assets (of course, they will need a buyer for them, unless they found one already). However, a company called Avoine (which briefly owned AP around 2007) has made a claim for these assets, claiming that they were unaware of any illegal activity on the site at the time (including both the cheating and the illegal payment processing). They are claiming to be "innocent owners" and want to be paid ahead of the players. The DOJ is likely to tell them to go fuck themselves, but this isn't certain.

    A Pocketfives article from March 13th claims that AP players could, at best, expect to see 15-20% of their funds.

    http://www.pocketfives.com/articles/...tivity-587224/

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    Platinum Rollo Tomasi's Avatar
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    Haley blogged about Avione on June 2nd 2012

    "At least seven of those individuals, US citizens working as AP executives, received ownership stakes in Avoine"

    http://haleyspokerblog.blogspot.com/
    Quote Originally Posted by tony bagadonuts View Post

    Look Corrigan, you've been a sideshow clown around here from the jump
    It's tough to take you seriously when you've made your bones acting the fool.
    Quote Originally Posted by Brittney Griner's Clit View Post
    Which one is he?

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