Barney Frank Speaks Out Against Poker Indictments

[Fonzi]

Barney Frank, the Democratic Congressman, let the Obama Administration know how he felt regarding Black Friday and the indictment that led to several arrests and the seizure of four well-known and big names in online poker on April 15th, 2011. He told them in so many words that this indictment and the criminal charges against [...]

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[mjo]

He went on the record with the Hill asking the government to “Go after the people responsible for empty houses, not full houses.”

Whoa......., the spokesman for Fannie, saying that?

While he is not giving the go ahead for USA players to break the law,,,,,,

okay, in a nutshell:
aside from Washington State & maybe Kentucky,
is it considered illegal to play in real money internet poker games in the US
or just illegal to transfer funds in & out of an account utilizing US financial institutions?

my take was always on the latter?
(actually, my thought was it was illegal for US financial institutions, to transfer funds)

[Fonzi]

There is no federal law that says playing online poker is illegal. Being a processors for illegal gambling is illegal. The only problem is illegal gambling is not defined in any law.

I know everyone is pissed off that they can't play or get their monies out but this isn't about online poker. The charges are money laundering and tax evasion.

[mjo]

I know everyone is pissed off that they can't play or get their monies out but this isn't about online poker. The charges are money laundering and tax evasion.

Exactly!!!
this was not an action taken by the DOJ
it was a RE-action

the top dogs in US online poker
were (allegedly) trying to circumvent the system

[woohoo sue]

Go frank go go frank go ...

[LDJ]

Let me see, they enact UIGEA which is unenforceable (missed deadline for regs) but banks shut down money transfers anyways and then when sites find ways to get around the unprosecutable UIGEA the DOJ charges them for THAT.

I really dont see this as being about money laundering, I see this as being about the fact that the feds know UIGEA wont stand up in a court of law so they looked for the results of UIGEA and charged them for those actions. The only reason money laundering was going on is becuase of UIGEA and if is unenforceable then it isnt really money laundering at all.

However, in a country where minting some numismatics and medallions is considered terrorism, the courts can not be ever considered to render an unbiased judgement, and freedom is a tenuous commodity.

[KingBorgo]

Why we can easily give the Feds a bad rap for this, it REALLY has nothing to do with poker, at all.

The plain and simple truth is: they WERE committing the crimes of bank fraud and money laundering. Plain and simple, by the easy cut letter of the law. Were this a legitimate, regulated industry in which this happened, the outcry would be loud in favor of the gov't. Yet, because it is hindering what we want to do (including me), we are critical and trying to blame the government.

Pokerstars, FTP, and UB (and many others) really are in the wrong here, due to current legal landscape. This shut down really provides the clean slate we will need to see in order to see governmental regulation on sites entering the U.S. Market.

[LDJ]

Nope. They were circumventing a law that has not been tested, probably wont be tested, and probably wouldnt pass the test of a truly unbiased court of law.

Money laundering happens when you are trying to move around the proceeds of crime. Exactly what crime was being committed?

Yes, they will probably be convicted, but only because the playing field isnt level. Personal freedoms are being eroded daily and it seems no one can stop it.

[no1here]

They were lying to the banks to trick them into honoring credit cards.
When I deposit the bank was told it was for computer equipment.
I suspect any checks from now on will say POKER on them.

[LDJ]

Yes, I am aware of that no1here. However, they were doing that to circumvent UIGEA and reportably it is unenforceable as the regulations were not released in time. If that is true, again I ask, what crimes money was being laundered?

This is like the FBI setting your house on fire and when you put it out with water from the nearest river they swoop in and charge you with water rights violations. I guess in a sense it is almost a form of entrapment.