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Online Poker Companies Reach $731 Million Settlement for UIGEA Violations

By Brian Monroe

Two of the world's largest online poker Web sites will forfeit $547 million to settle U.S. Justice Department allegations that they violated anti-gambling laws and deceived financial institutions into processing their payments. Under a settlement with the Manhattan U.S. Attorney, PokerStars will absorb Full Tilt Poker and pay an additional $184 million owed by the latter to foreign poker players. U.S. clients of the companies will be able to sue the Justice Department for any winnings owed by the poker operations, which account for two of three businesses indicted in April 2011 for violating anti-gambling laws. In its 2011 indictment,...

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