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74-YEAR-OLD POKER FAN JAILED FOR FRAUD
A 74-year-old former Irish school teacher with a persistent penchant for online poker found himself in the Dublin Circuit Criminal Court this week charged with defrauding his restaurateur employer of Euro 135,000.
The Irish Times reports that John Carlos was employed as a part-time accountant by the restaurant, and pleaded guilty to forging signatures on cheques, altering amounts on cheques and stealing money from his employer, Eddie Rockets franchise owner Peter Fortune, between 2005 and 2008.
The court heard that Carlos had been a highly-respected retired teacher and accountant in Bray, Co Wicklow, until he became a hopeless and deeply addicted gambler, ruining his family life and reputation.
Restaurateur Fortune hired Carlos, whom he had known for over 30 years, as an accountant in 1999.
In September 2008, Fortune got a letter from Revenue seeking a tax audit. He realised something was wrong and asked Carlos if he was a qualified auditor. He replied that he was not and he was let go from his position.
Fortune brought in hired external auditors who discovered that a large amount of suspicious cheques had been signed between 2005 and 2008. Fortune said some of the signatures purporting to be his were not genuine, while other signatures were his, but the amount on the cheque had been altered.
Carloss bank account showed numerous amounts going to the Paddy Power online poker website, the court heard.
In April 2011, Carlos called in voluntarily to a Garda (police) station and admitted defrauding his employer via dozens of cheques, totalling Euro 135,000. He told garda that he had lost about Euro 150,000 gambling and had run into considerable debt. He said what he had done was appalling but that he could not afford to repay the money.
The court heard that Carlos has a pension of about Euro 220 a week, Euro 150 of which he gives to his wife. He lives on the remaining Euro 70. He is now separated from his wife.
Presiding Judge Mary Ellen Ring expressed concern that Carlos had only done limited work to address his addiction, even though she said he was unlikely to reoffend because of his practical circumstances. She ordered a probation report and remanded him on bail for sentencing on June 5th.
PIONEER ONLINE SPORTSBOOK CLOSES
The World Sports Exchange, a nfl football betting NFL Betting Lines pioneering online sports betting operation in the Caribbean which has been making headlines - often for all the wrong reasons - since the 'nineties, has finally closed.
The site has frequently been the focus of attention from enforcement agencies, but the management claims the "halt" in operations is the result of "inadequate capital resources" and that its financial affairs are currently under review.
Any remaining players will hardly be reassured by the lack of detail on how their account balances are to be handled; the notification merely informs them that they will be kept informed on the company's plans to repay or transfer player account balances.
Founded by Jay Cohen, one of the first online betting execs to be prosecuted and imprisoned, in more recent times the company has become notorious for slow payments and has frequently been accused of bad player communications.
The current US enforcement drive against online sports betting companies (see previous InfoPowa reports) is hardly an encouraging development in the sector.
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FULL TILT LAUNCH REACTIVATES 400 000 PLAYERS
PokerScout published its online poker traffic report with some interesting summations on the return of Full Tilt Poker (FTP).
Full Tilt Poker took back its second place position in the market soon after launch, averaging around 8 500 cash game players which PokerScout said is nearly triple the traffic of iPoker Network or PartyPoker.
PokerScout opines that the majority of Full Tilt players weren't poached from competitors but rather returned to online poker, specifically Full Tilt, following a 16-month absence which as resulted in the reactivation of 400 000 players. It bases the opinion on an average 5 percent drop in traffic on the top five poker sites in the week following FTP's launch which totals only one quarter of FTP's traffic.
Acknowledging that 10 percent of launch-day visitors may be attributed to "novelty factor" and "curiosity-seekers", PokerScout said even so, figures show the site would have lost only 11 percent of its customers, a surprising and impressive development.
Other network news showed the benefit of the iPoker French network's acquisition of Everest Poker.fr, with the network showing growth of 2000 percent ahead of Party Poker.fr and third place overall in the French market.
Top Movers during the week:
-Full Tilt Poker took its second place pushing 15 websites and networks down a notch.
-iPoker.fr made its top 20 debut in 18th place after the Everest merger.
-PartyPoker.fr and International.it each dropped two spots to 19th and 20th, respectively.
-PeoplesNetwork.it and IPN, formerly in 19th and 20th place, respectively, fell out of the top 20.
Year-Over-Year, online poker traffic has increased by 3 percent as the market is buffeted by tough regulatory environments and harder economic times.
The top three company's year-on-year saw PokerStars down 7 percent, iPoker Network down 28 percent and PartyPoker down 32 percent.
Notable gainers year-on-year were iPoker.fr, up 1 500 percent and Revolution Gaming (formerly Cake Poker Network) up 59 percent.
Notable decliners include IGT Poker by 90 percent, International Poker Network (IPN) down 48 percent, Merge Gaming Network down 46 percent, iPoker.it - 31 percent, PKR - 25 percent, PokerStars.fr - 24 percent and Ongame Network - 20 percent.
Under the small but interesting heading, Winning Poker Network (formerly Yatahay) was up 200 percent and Everleaf Gaming Network down by 53 percent.