PokerStars, great name of the online casino industry, has recently experienced some troubling situations. Its founder, Isai Scheinberg was accused of violating the 1971 Games Act 1971. In addition, this one pleaded guilty. Basically, he confessed to having directed an illegal online gaming site. Today, the case is almost behind Scheinberg and the players of his platform have been refunded almost immediately. He also wanted to reassure players from other sites he would ensure that they are also refunded. Let's make all the light on this case.
After two months of federal guard, Isai Scheinberg, founder of PokerStars pleaded guilty. This one was judged before a Federal Court of New York. The charge against him was the management of an illegal online poker site. As a reminder, 11 people were continued in the famous "Black Friday" case of the world of poker. For nearly 9 years, Scheinberg was able to avoid prosecution and was the last to go to court. This one has, however, directly accepted its guilt. For many, this case has greatly bighed the American game industry online. Faced with his confessions, Scheinberg, 73 years old, risks five years imprisonment. Until the time, the condemnation of the founder of PokerStars has not yet been set by Lewis A. Kaplan. It should also be known that the other 11 accused all pleaded guilty in this case.
A case that took time
In the United States, among the largest online poker companies are PokerStars, Full Tilt Poker and Absolute Poker. Unfortunately, it has been shown that since 2010, they operated through fraudulent payment processing services. 11 people were then accused of exploiting illegal game companies and other crimes. Despite the period of time between the debut of the case and the guilt advocacy of ISAI Scheinberg, it does not change the accusation. Each of these 11 people is held responsible after violating the American law. They all pleaded guilty. So they have, in other words, confessed that they were aware of what was tracing. They knew that the operation of online poker sites in the United States violated New York and Federal Act. For Scheinberg, it did not prevent it from operating by continuing to offer its products online for a while. As said above, it is the only one hitherto not yet having had a fixed condemnation. The other accused all of them have erupted prison sentences. Their condemnation does not exceed, however, not three years behind the bars.
Back on the "Black Friday"
It was April 15, 2011 that things tilted for PokerStars, Full Tilt Poker and Absolute Poker. This date is particularly known in the world of poker to be the "Black Friday". That day the assets and areas of these were seized by the federal government. At this moment Scheinberg is accused of banking fraud and money laundering. Added to this is the charge of violation of the Law on Gambling on the Internet. As a reminder, Isai Scheinberg is an Israeli-Canadian businessman. Following the case, this one remains on the touch. However, its society rule, with the US Department of Justice, the issue of civil accusations related to the case. In 2012, PokerStars then decided to pay $ 731 million to maintain its assets. The business giant even benefits from the opportunity to recover the assets of his competitor Full Tilt Poker. The latter quickly broke against the charges. Indeed, he owed $ 400 million to his players while he had only 60 million. PokerStars, with the sum, therefore proposed an agreement that Full Tilt Poker could not have refused. After several years of Cavale, Scheinberg is arrested on Swiss soil in June 2019. It was only in October that the Tribunal orders extradition to the United States. Of course, the businessman has tried to appeal to the court decision. Only January 17 he agrees to go to the American agents. Nevertheless, this one benefits from a bond release, up to $ 1 million. His passport was also removed. However, it is allowed to travel to the New York and Washington DC districts where are his lawyers.
Stars looking for mega-fusion
Faced with all this agitation, Scheinberg and his son Mark, have had no choice but to sell PokerStars. In June 2014, they managed to withdraw $ 4.9 billion by ceding it to Amaya Inc. today, the former name of the casino is known as The Stars Group. The latter is considered a publicly traded company based in Toronto. With regulations returned to normal, the company is then authorized to resume its activities on American soil. In March 2016, TSG even launched its own online poker in New Jersey and then Pennsylvania. Working well, the company has even developed its activities towards sports betting. A partnership with Fox Sports has also emerged. Last quarter 2019, The Stars Group and Flutter Entertainment merge for $ 12.2 billion. It should be noted that the latter is none other than the owner of Betfair and Fanduel. This goes without saying that such a merger will give birth to the Golf Games online from here regulatory approvals.