PokerStars Begins Refunding American Players

PokerStars has begun processing withdrawals for American players following a settlement with the US Department of Justice. The company announced that it has reached an agreement with the US Department of Justice and has started the process of returning funds to its former American players. PokerStars assured that all player funds were kept separate from the company's assets, in accordance with the strict licensing requirements of the Isle of Man.

Ira Rubin, the fourth suspect in the online poker money laundering case, was arrested on April 25, 2011. Rubin was one of 11 suspects indicted in the case. He was previously arrested in February 2008 for allegedly organizing money transfers across borders. Rubin was arrested in Guatemala and his current legal status is unclear, as his lawyer has refused to provide services due to lack of prepayment.

Starting May 1, 2011, PlayersOnly.com and Sportsbook.com will stop serving US players. However, several other poker networks, including Merge (LockPoker), Cake (RedStar, AdamevePoker), Everleaf, and Yatahay (Doyle's Room), as well as the independent poker room Bodog, will continue to operate globally without restrictions. Notable regular verneer has joined the Merge network and shared his thoughts on the current situation in his blog on CardRunners.