PokerStars Past Deeds Under Scrutiny

PokerStars is the largest online poker gaming community and one of its former employees was indicted due to a certain sum of money that was laundered in 2011.

Indeed the amount that was forfeited led to several businesses closing their sites this year. Paul Tate was responsible for processing payments on behalf of the company. Paul Tate came back from Isle of Man to US in order to face the charges. The judge, who was handling the case, commended his actions. The judge stated that Paul would not have been extradited even if his charges were found. Hence, the fact that he decided to come and face the music showed his character in a good light.

Tate had been a former employee of PokerStars, much before the company was owned by Amaya Gaming which occurred in 2014. At that time there was a settlement made of about seven hundred million with the federal government by the company. The company also admitted that there had not been any wrong doing on their end.

The shares of the company since then have increased by seventy percent. When Tate filed his plea of guilt it left Isai Scheinberg as the founder of the company with charges that were pending. Nine others who were in charge of divisions like Absolute Poker and Full Tilt Poker were also found guilty. A total of eleven people faced criminal charges as a result. Some employees are facing charges and have undergone imprisonment while others have been set free like Paul Tate. However, the company officials have cooperated with the federal authorities and are undergoing all steps to ensure that the charges are met and resolved in a speedy manner so that the company’s future operations can proceed as usual without the same being affected with the past deeds.