New Online Poker Bill Circling
A new federal online gambling bill with an online poker carve out is currently floating around Washington while the next round of Full Tilt repayments will commence around the middle of June.
Finally, Australian poker pro William Jordanou could be facing some serious jail time after defrauding banks out of $100 million.
New Federal Online Gambling Bill Floating Around Washington DC
On Wednesday, Jon Ralston of RalstonReports.com reported that a new Federal online gambling bill is making its way around Washington D.C.
The bill entitled "Internet Gambling Prohibition and Control Act of 2014" has yet to be introduced and does not list any sponsors at this time.
In its present form the bill would ban most forms of online gambling with the exception of online lotteries, horse racing and other activities exempted under the UIGEA.
Online poker is listed as an exemption but only in states where the game has been legalized. The bill does not provide a blanket legalization of online poker.
Essentially, if it is legal at the state level, it will be legal under this bill.
This bill is being compared to the Reid-Kyl bill from 2012, and that bill failed to be introduced to Congress. It is unknown at this time whether this bill will actually be introduced or if this is more "wishful thinking" by lobbyist.
More Repayments on the Way to Full Tilt Poker Players
The Garden City Group has released information on the next batch of payments to former Full Tilt Poker players.
According to a recent release on FullTiltPokerClaims.com, $15 million in funds will be paid to approximately 3,500 petitioners around the middle of June 2014.
In addition to players, former Full Tilt affiliates will be paid during this round of distributions. This distribution will bring the total distributed to players this year to approximately $96 million.
Australian Pro Jordanou Arrested for Allegedly Defrauding Banks for $100m
Australian poker pro William Jordanou has been arrested for allegedly defrauding banks of over $100 million from 2004 through 2013.
According to allegations the 55-year-old Jordanou drew funds using false invoices and client approvals and used those funds for property development and supporting his glamorous lifestyle.
Australian authorities have reportedly been building their case against Jordanou for the last three years, likely meaning it will be a slam dunk for prosecutors.
Jordanou has nearly $600,000 in live tournament cashes. He finished third in the 2010 Aussie Millions $100,000 Challenge behind Dan Shak and Phil Ivey.