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PokerStars Gets Seized Account Back

PokerStars has reached an agreement with the U.S. Department of Justice that will see the troubled poker site's funds released from a bank account.

The agreement, which was signed by U.S. District Judge Leonard B. Sand will see seized funds in the Bank Hapoalim Luxemborg account held by Sphene International Limited (one of the companies that forms the group PokerStars) released. The bank account was seized by U.S. authorities on April 15th, 2011, which is commonly referred to as "Black Friday".

The agreement stipulates that Sphene International will be given access to a portion of the funds, but $5.5 million in the account will be held as it was determined that it originated from real money poker play in the United States. The money will be held until the case has reached its conclusion. Reportedly, PokerStars was given access to the funds because accounting records were able to indicate which portion of the funds originated from the United States.

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geGambleMaster
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6 September 2011 - 12:34pm
#1

Does that mean that PokerStars will allow US players again?

auCL-Ed
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7 September 2011 - 12:22am
#2

No, it just means that Pokerstars will have access to money that is owed to players who are not from the USA.

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geGambleMaster
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7 September 2011 - 7:59am
#3

Thank you CL-Ed, it is clear now. My friend is from the US and had a positive balance on his account till the very Black Friday, I doubt he's gonna get compensated ever....

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