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More Poker Black Friday Fallouts
Courts refuse to block takeover of credit union implicated in online poker indictments
The federal indictments against online poker activity in the United States claimed another victim this week when the US government's National Credit Union Administration imposed a conservatorship on Vensure FCU, a $4.7 million credit union allegedly linked with the online poker sites.
U.S. Judge Rosemary Collyer refused to grant Vensure a temporary restraining order in a Washington court, citing federal law, which gives the NCUA extraordinary powers to take over and liquidate federally insured credit unions.
NCUA has never lost a court challenge to its conservatorship powers.
Mesa, Arizona-based Vensure's legal team argued that the NCUA takeover threatens the existence of the credit union and of its chief corporate sponsor, Vensure Employment Services.
Evidence was led that only hours after the indictments were unsealed by federal enforcement authorities in New York, the NCUA imposed its authority over Vensure, freezing an account that allegedly processed $25 million a day in automated clearinghouse transactions for the two biggest online poker websites, PokerStars.com and Full Tilt Poker.
Vensure lawyers told the judge that their client has made moves to terminate its relationship with the poker sites and is capable of surviving without those revenues, which made up the vast majority of its business last year.
They expressed concerns that the NCUA would liquidate the company whilst its CEO and four employees were on NCUA-enforced leave with full benefits.
Media reports on the case claim that the NCUA knew all along of Vensure's gambling connections and core business, warning the company in January this year to cease and desist its gambling
ties, which the Vensure board voted to do later that month. At that point it is claimed that Vensure notified the online poker sites of its intention to terminate its processing agreement within 180 days.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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