Feds charge online gambling sites with fraud, bankers still untouched

Apparently you can be involved in fraud when it comes to millions or billions, but when you’ve cost and lost trillions, that’s OK. How is it that federal prosecutors can be so aggressive with the online gambling industry yet the bankers have barely been scratched? Most Americans don’t care that much about gambling but they are upset with the lack of progress on prosecuting the bankers who caused the recession.

Who owns you, Washington?

In the most aggressive action yet to try to prevent Americans from gambling online, federal prosecutors on Friday charged three of the largest Internet poker companies with tricking banks into processing billions of dollars of illegal betting proceeds.

Eleven people, including the owners of Full Tilt Poker, Absolute Poker and PokerStars, were charged with violating U.S. anti-Internet gambling laws, under an indictment unsealed by federal prosecutors in Manhattan.

Prosecutors also filed civil money laundering charges seeking to recover at least $3 billion from the companies, are of which all based overseas, court documents said.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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