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The downfall of the Cereus Network and its Absolute Poker, UB.com brands post “Black Friday” April 15 indictments has all but destroyed the company.
In just a matter of two months since being forced to exit the US market, Cereus has seen its “real cash” player base drop from several thousand daily average to a mere 86 during the final week of June. It had once ranked among the top 5 online poker sites worldwide. As of this writing, it ranked number 36.
Along with PokerStars and Full Tilt Poker, Absolute and UB.com, Cereus’s flagship brands, were charged by US authorities with money laundering and bank fraud. The company claimed it was sold to one Stuart Gordon, who operates the BingoMania.com website out of Antigua. Gordon is yet to comment on the failure of UB.com and Absolute Poker to relinquish funds to players.
Neither Absolute Poker, UB.com or Full Tilt Poker have paid out their US customers. PokerStars has paid everyone in full.
- Chris Costigan, Gambling911.com Publisher
