Online Casino Style: News - Goldwater Forfeits Funds

09/29/2010		Online Casino Style - News: Goldwater Forfeits Funds
Home History Games News Dictionary		According to a report by the DOW Jones news agency this week, in spite of overwhelming indicators that the majority of the US population is in favor of legalizing internet gambling, a new and interesting application of the US bank bailout scheme TARP will be utilized to boost the linings of federal coffers, at the expense (once again) of the online gambling community. The move was orchestrated by the Justice Department this week, which no doubt is trying to make good on whatever time they have left under the prohibitionary laws while change is imminently awaiting its turn in the corner. The final paperwork was drawn up and signed by Goldwater Bank out of Arizona this week, which agreed to forfeit $733,804 in order to make a federal accusation that they were assisting access to illegal internet gambling go away. According to the Feds, Goldwater accepting deposits in relation to the online gambling poker site Poker Stars. The monies in the Goldwater accounts were traced back to the Isle of Man operating site, and under the Unlawful Internet Gambling Enforcement Act of 2006, should have been blocked by the financial institution. It wasn’t just one instance, either. According to records, the bank processed and accepted more than $13.3 million from the Poker Stars online casino and other internet gambling sites through the first five months of 2009. The bank itself received payements from Allied Wallet brand named companies for clearing services. Ahmad Khawaja of Allied has already made a deal with authorities to make his problems go away, by allowing the government to permanently seize ownership of the $13.3 in question. Apparently now, the bank itself will be giving up $733K to make their side of the case disappear as well. "The deal was made not just with the Justice Department but the Troubled Asset Relief Program, in which the federal government invested in banks during the aftermath of the financial crisis," Dow Jones reports. Goldwater Bank was one of the financials to receive bailout money during the recession, to the tune of $2.5 million. "Today's charges and settlement should send a powerful message to TARP recipients that they will be held strictly accountable for any misdeeds while they stand as custodians of taxpayer dollars,” said TARP Special Inspector General Neil M. Barofsky.

09/29/2010

Online Casino Style - News:
Goldwater Forfeits Funds

According to a report by the DOW Jones news agency this week, in spite of overwhelming indicators that the majority of the US population is in favor of legalizing internet gambling, a new and interesting application of the US bank bailout scheme TARP will be utilized to boost the linings of federal coffers, at the expense (once again) of the online gambling community. The move was orchestrated by the Justice Department this week, which no doubt is trying to make good on whatever time they have left under the prohibitionary laws while change is imminently awaiting its turn in the corner.

The final paperwork was drawn up and signed by Goldwater Bank out of Arizona this week, which agreed to forfeit $733,804 in order to make a federal accusation that they were assisting access to illegal internet gambling go away. According to the Feds, Goldwater accepting deposits in relation to the online gambling poker site Poker Stars. The monies in the Goldwater accounts were traced back to the Isle of Man operating site, and under the Unlawful Internet Gambling Enforcement Act of 2006, should have been blocked by the financial institution.

It wasn’t just one instance, either. According to records, the bank processed and accepted more than $13.3 million from the Poker Stars online casino and other internet gambling sites through the first five months of 2009. The bank itself received payements from Allied Wallet brand named companies for clearing services. Ahmad Khawaja of Allied has already made a deal with authorities to make his problems go away, by allowing the government to permanently seize ownership of the $13.3 in question. Apparently now, the bank itself will be giving up $733K to make their side of the case disappear as well.

"The deal was made not just with the Justice Department but the Troubled Asset Relief Program, in which the federal government invested in banks during the aftermath of the financial crisis," Dow Jones reports. Goldwater Bank was one of the financials to receive bailout money during the recession, to the tune of $2.5 million. "Today's charges and settlement should send a powerful message to TARP recipients that they will be held strictly accountable for any misdeeds while they stand as custodians of taxpayer dollars,” said TARP Special Inspector General Neil M. Barofsky.