DoJ Releases Some PokerStars Funds; $5.5 Million Still Tied Up

A New York based attorney representing the Department of Justice (DoJ) has agreed to the partial release of funds from a frozen PokerStars bank account.
The money had been held in the Hapoalim Bank in Luxemborg - one of the financial institutions listed in the Black Friday indictments.
The bank, linked with a PokerStars payments company Sphene International Limited, had been involved in processing player deposits and withdrawals.
In a great development for European and other non-US based poker players, an unspecified amount of money has been released.
$5.5 million in US player funds remains trapped, pending the outcome of the ongoing DoJ, PokerStars legislation battle.
Two other Swiss based accounts linked to Sphene, Credit Agricole, seemingly remain frozen.
If any positive can be gleaned from this story, it is that the Department of Justice is willing to co-operate with poker websites so that players can get their money back.
Hopefully, Full Tilt Poker can negotiate similar deals with the DoJ as its 19th September date with the Alderney Gambling Control Commission approaches.
Read more ..