Owerners of PS, FTP and Absoloute get charged

#21
shadroch said:
What will get interesting is when their attorneys offer to give up the names of several million US residents that didn't pay any taxes. Will the government go after all the little fishies or just be happy to cut off the flow.
Whacko jackboot defenders of the status quo will drill right down the line. zg
 

MangoJ

Well-Known Member
#22
shadroch said:
You enforce it exactly the way the government is doing, but charging the major players with breaking the law. I'm not sure why that is so hard to comprehend.
What will get interesting is when their attorneys offer to give up the names of several million US residents that didn't pay any taxes. Will the government go after all the little fishies or just be happy to cut off the flow.
I don't know the government view (hey, it's not my government), all I'm saying is - national laws are not enforceable on the internet.
And I don't think players break the law by playing poker. Neither for gambling (which happens in Malta, not US) nor for money laundry. Players have no control how money transactions are implemented by the poker company. If they cash out and get a transactions from "Asian Pacific Network Group" instead of "PokerStars", there's nothing they can do about that.
Surely they should declare their winnings on tax forms - if wins from gambling is taxable.

Whether or not players have a legit claim of their held money, the company is surely going for bankruptcy with the billions of $ of charges. And guess who is served first from the player funds pool... it's certainly not the players.
 

shadroch

Well-Known Member
#23
The banks and the sites are breaking the law by accepting money from US residents. They erected a shadow system that pretended you were paying for X while they were delivering Y. That is fraud and may be money laundering.
As far as your claim as national laws not be enforceable on the internet, I'll simply refer you to the hundreds if not thousands of people in jail for logging on to kiddie porn sites. I am not equating playing poker with child porn. Just giving you a concrete and well publicised example to show the err of your thoughts
Were the players legally playing poker- thats a grey area but not what this case is about. As far as taxes go, why would you think theres even a remote chance that your gambling income would not be taxable?
 
#25
shadroch said:
The banks and the sites are breaking the law by accepting money from US residents.
And the users in US also breaking the law, as well.
So our illustrious imperial gummint decided that to be fair NOBODY gets their money back! zg

 

Katweezel

Well-Known Member
#26
For an alien from a land where Internet Gambling is God, this poker hullaballoo is a mystery. :confused: Um, why isn't Internet Gambling legal in the US again? I've forgotten. Strange how the gummint allows billions available in taxes to remain offshore. :confused: I think it may have been QFIT who hinted the bottom line is religion?? And it wasn't so long ago when an on-line poker website was busted cheating, as I recall. Now this... ;)
 

Katweezel

Well-Known Member
#28
zengrifter said:
And the users in US also breaking the law, as well.
So our illustrious imperial gummint decided that to be fair NOBODY gets their money back! zg

Hey, that's not a Gummint. It's a bunch of serious and sad-faced individuals standing around with their hands folded in front of their genitals; and Gummints don't have genitals, as far as I know. :eek:
 
#31
shadroch said:
The banks and the sites are breaking the law by accepting money from US residents.
zengrifter said:
And the users in US breaking the law, as well.
So our illustrious imperial gummint decided that to be fair NOBODY gets their money back! zg

From analysis by Criminal Trial Attorney Sanford I. Millar -
Claims by some of the three companies, that business may continue as far as payouts to players may
be “puffing” but if attempted could result in further charges being brought. Which in some ways gets
us back to the actions of the IRS.

In the event that there is a plea deal by any of “founders” there will most assuredly by a “cooperation”agreement.

The U.S. will want each companies player list with deposits, withdrawals and balances by year so that the IRS can follow-up to see if winning and losses were reported. If the civil fraud penalty applies, that is willful failure to file, willful failure to pay, or then the statute of limitations on assessment is open so some players may be exposed not only for cash balances on hand, but for tax on prior winnings.

If the criminal tax evasion statute applies, then not only will some of the players
face civil penalties of 75%, plus interest, but also time in custody. If the failure to file Foreign Bank
Account Reports statutes apply, then civil and criminal penalties under the Bank Secrecy Act are
possible.

As said above, some of the damage has already been done, but like the Fukushima earthquake, the
full assessment is going to take time. But the cost to the specific businesses, both direct and indirect,
as well as to third parties is already enormous.
 

Caesar

Well-Known Member
#32
And how many dishonest WS titans have been arrested?

Instead of devoting all these resources in this endeavor, you would think the US government might work on building cases against the Wall Street frauds behind the biggest economic collapse since 1929.:confused:
After all the leaders of Enron were brought to justice. Oh, that's right. The dishonest bankers behind the 2008 meltdown were too big too fail so they were bailed out. And not only have they escaped justice but they've continued to receive their bloated pay packages.:flame:
The overpaid and haughty WS titans did much, much more damage to the US than these three poker sites could ever possibly do.
 

Katweezel

Well-Known Member
#34
zengrifter said:
What damage did the poker sites do? z:confused:g
Well, quite obviously they were a serious threat to life as we know it on this planet. You oviously don't fully appreciate the great efforts your gumminent is doing right now to safeguard democracy, for the whole Western world. Bernie Madoff was target #1, and that threat was removed. Then, the dude with the funny money offering competition. He should join Bernie soon. And now, the card dudes. They all should be in the same joint before too long, playing poker together. You should show more gratitude, before it's too late. :(
 
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