Pokerstars Regains Access to Portion of Funds From Seized Account

Published on 2011-09-05 14:44:00

According to Subject: Poker (link below), Pokerstars will be regaining access to some of the funds in one of their seized bank accounts.

According to an agreement between the United States Attorney's Office for the Southern District of New York and Pokerstars that was dated September 2nd, the online poker site will now have access to some of the funds in a numbered account (272010) at Bank Hapoalim Luxemburg.

According to the agreement, Pokerstars represented that $5.5 million of the funds in the account were "derived from online poker player for real money in the United States". This amount will remain frozen.

The agreement also states that the "Government agrees that it does not object to Pokerstars' use of the remaining funds" in the account. The total amount of money in the account wasn't disclosed.

So, in short, Pokerstars will regain access to the money in this seized account, minus $5.5 million.

As far as I know, this is the first instance of the DoJ releasing any of the frozen funds from seized Pokerstars/Full Tilt Poker/UB/AP accounts.

Source: SubjectPoker.com - DOJ Releases Some Stars Funds

--

Filed Under: Poker Room News