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UB.com and sister site Absolute Poker are rumored to be figuring out a quick remedy for its payout quagmire. Remaining executives of the company do not wish to be marked targets of the US Feds. Over the past couple of days, there has been whispers throughout the online poker community that UB.com is approaching a resolution that would allow customers to finally be paid. Whether this comes to fruition remains to be seen, however, they now have their backs against the wall.
On April 15, executives from UB.com/Absolute Poker, Full Tilt Poker and PokerStars were indicted and charged with money laundering and bank fraud. Not all the executives were charged and this remains a key.
Two weeks ago, the Department of Justice decided to go after individuals who were deemed as stakeholders in Full Tilt Poker, accusing them of running an elaborate ponzi scheme. Chris Ferguson, Howard Lederer and another individual were named as part of a civil complaint with Feds suggesting they may press charges.
“By paying back players, UB.com executives could avoid being accused of running a similar scheme,” a Gambling911.com source advised, noting that UB.com/Absolute Poker execs were not yet linked to the alleged ponzi scheme.
Customers are now being advised that a solution to the current payout woes is near.
“If UB.com can even enter into some type of settlement arrangement with US players, this could potentially keep them out of the Feds crosshairs as they continue to aggressively pursue those connected with Full Tilt Poker,” noted our source.
It is becoming abundantly clear that US law enforcement will relentless pursue those charged as part of this investigation, searching out every corner of the Earth and apprehend the likes of Raymond Bitar, Full Tilt Poker’s founder, similar to how they captured BetOnSports.com founder Gary Kaplan after he was on the lam for more than 6 months. There is no place to hide! UB.com executives likely understand this and realize the importance of paying back players immediately or else face dire consequences.
UB.com has continued to pay players outside the US, albeit slowly and in denominations of a few hundred dollars.
- Jagajeet Chiba, Gambling911.com Publisher
