Absolute Poker Forfeits All Assets To U.S.A.

After more than two years of legal trouble, shuttered internet poker firm Absolute Poker has reached an agreement with the United States government, which will see the poker firm will forfeit all of its assets in exchange for having money laundering charges dropped.

The deal was struck and finalized on July 15th by U.S. Judge Kimba M. Wood. As part of the deal all of the firm's assets are forfeited to the United States, with the government abdicating its claims for the assets of Absolute Poker owners Blue Water Services Ltd., Trust Services Ltd., SGS Systems Inc. and Fiducia Exchange Ltd. A civil lawsuit against those firms remain, however.

The language of the official deal reads:

"The Absolute Poker Group agrees that all assets, including property of all kinds, real and personal, tangible and intangible, goodwill, right or non-physical resource that is presumed to represent an advantage in the marketplace, and anything having commercial or exchange value, of the following Absolute Poker-affiliated and controlled companies (collectively, the the Absolute Poker Group"), or any other transferee of assets f/b/o the Absolute Poker Group, its owners or designees shall be forfeited to the United States, for disposition according to law, pursuant to Title 18, United States Code, Section 981:"

"As set forth herein. Blanca Games hereby withdraws its claim in this action for the assets of Blue Water Services Ltd., Trust Services Ltd., SGS Systems Inc. and Fiducia Exchange Ltd."

"The civil money laundering claims against the Named Absolute Poker Companies are hereby dismissed with prejudice, with the exception of the civil money laundering claims against Blue Water Services Ltd., Trust Services Ltd., SGS Systems Inc. and Fiducia Exchange Ltd., which remain pending."

"Each party shall bear its own costs and attorneys' fees."

Absolute Poker was shut down by the U.S. government on 2011 in what is known around the internet betting industry as Black Friday.