PokerStars begins US payouts under DOJ deal

AP News
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Posted: Apr 27, 2011 2:21 PM
PokerStars begins US payouts under DOJ deal

The world's largest online poker company says it has started the process of repaying millions of dollars in funds deposited by American players as its executives face allegations of bank fraud and money laundering to conceal illegal Internet gambling.

PokerStars said in a release on Wednesday that it has made arrangements with a bank to return the funds as part of an agreement with the U.S. Department of Justice.

The Isle of Man-based company says player money is safe and has been kept in separate accounts than those used for company operations.

PokerStars recently shut down its real-money gambling offerings to American players after federal authorities in New York announced indictments of 11 executives at PokerStars, Full Tilt Poker and Absolute Poker.

PokerStars has said it plans to defend itself.