Absolute Poker Assets Forfeited to U.S. Government, Civil Suits Dismissed
In a Stipulation and Order of Settlement filed in the United States District Court for the Southern District of New York on July 16, a number of companies collectively referred to as the Absolute Poker Grouphave agreed to forfeit all assets to the U.S. Government “for disposition according to law.” Additionally, certain civil charges against the members of the Group have been dropped.
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The entities that comprise the Absolute Poker Group, as listed in the Order, are:
Absolute Poker
Ultimate Bet
Absolute Poker Entertainment, S.A.
Blanca Games, Inc.
Hoop and Javelin Holdings Limited
Lacrosse Holdings Limited
Hoop Payment Solution Services Ltd.
Morning Bliss Overseas Ltd.
While the assets of those companies are to be forfeited, the Order states, “The Forfeited Property shall not include any rights, title, or interest in any ownership interests (legal or beneficial) in any of the companies in the Absolute Poker Group.”
At the same time, Blanca Games, the alleged owner of Absolute Poker, withdrew its claim for the assets of four entities: Blue Water Services, Ltd. Trust Services Ltd., SGS Systems Inc., and Fiducia Exchange Ltd.
As a result of the agreement, the civil money laundering charges against the members of the Absolute Poker Group have been “dismissed with prejudice,” meaning that the U.S. Government cannot file another case against the defendants on the same claim. The civil claims against the other companies remain pending.
According to an article by Haley Hintze on FlushDraw, those four companies are “closely related to the original AP fratboy ownership group.” The “SGS” in SGS Systems, the article states, likely stands for the first initials of the founders of Absolute Poker: Scott Tom (pictured), Garin Gustafson, and Shane Blackford.
Additionally, the members of the Absolute Poker Group have agreed in the settlement to fully cooperate with the United States Attorney’s Office for the Southern District of New York and the United States Marshals Service in the process of the asset forfeiture. The Group will provide a full, detailed list of the all the applicable assets and help Government personnel get in touch with anyone who may be able to provide further information or documentation.
The settlement also states that despite the agreement to forfeit assets, it should not be interpreted as an admission of any wrongdoing by the Absolute Poker Group.
It thus appears that another of the dark chapters of Black Friday is closed, or at least almost closed depending on what of any importance is still tied up in the four companies whose cases are still pending. Even though all of the Absolute Poker Group’s assets are being shipped to the U.S. Government, it could be wishful thinking to expect former AP and UB players to see the entirety of their lost funds.
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