Your tax dollars at work:
The founders of the three largest online poker sites were indicted on Friday in what could serve as a death blow to a thriving industry. Eleven executives at PokerStars, Full Tilt Poker, Absolute Poker and a number of their affiliates were charged with bank fraud and money laundering in an indictment unsealed in a Manhattan court. Two of the defendants were arrested on Friday morning in Utah and Nevada. Federal agents are searching for the others. Prosecutors are seeking to immediately shut down the sites and to eventually send the executives to jail and to recover $3 billion from the companies. By Friday afternoon Full Tilt Poker’s site displayed a message explaining that “this domain name has been seized by the F.B.I. pursuant to an Arrest Warrant.” The online gambling industry has taken off over the last decade, drawing an estimated 15 million Americans to bet online. In 2006 Congress passed a law curtailing online gambling. Most of the leading sites found ways to work around the law, but prosecutors allege that in doing so they broke the law.
Over at Reason, Radley Balko succumbs to righteous anger (profanity in headline alert), denouncing Obama as being ‘worse than Bush’ on this topic, adding:
Good to know where the DOJ’s priorities lie. In this case, it’s preventing millions of people from consensually wagering money in online card games, an exchange that causes no harm to anyone else.
But Radley, don’t you understand that Obama is against irresponsible spending?