US poker players waiting for a refund from Ultimate Bet (UB) and Absolute Poker can heave a sigh of relief because the Cereus Network has stated that it has chalked out an effective refund plan.
It may be recalled that the US federal government had cracked down on UB and Absolute Poker and had seized their funds in mid-April this year. Besides UB and Absolute Poker, Full Tilt Poker and PokerStars were also accused of violating the Unlawful Internet Gambling Enforcement Act (UIGEA) 2006 and their CEOs were booked on various counts of money laundering, bank fraud, and illegal gambling.
Six months have passed after the federal crackdown, and during these six months, Absolute Poker and UB players have been unable to withdraw their frozen poker funds. Now, they will finally be refunded.
The Kahnawake Gaming Commissioner (KGC), based in Canada, issued a press statement regarding numerous meetings held over the past weeks with Blanca Gaming, the company that took over the Cereus Poker Network in August 2010, to discuss ways and means of refunding UB and Absolute Poker’s US players. According to the KGC statement, Blanca’s assets will be liquidated and the proceeds will be delivered to the players. The proposal has been placed before the US District Court of Southern District of New York (SDNY) for its approval. The KGC has also assured that, throughout these past six months, it has been concerned about refunding Absolute Poker’s and UB Poker’s US as well as non US players’ frozen poker funds at the earliest possible.
Needless to say, this piece of news should make aggrieved ex poker players of UB Poker and Absolute Poker happy. Many of them have already migrated to other online poker rooms and have resumed their online poker activities there. Simultaneously, these players cannot be expected to start celebrating until and unless they have seen their frozen poker funds in their own bank accounts.
Bitter players have not forgotten that UB Poker and Absolute Poker had talked of reaching an agreement regarding refunding players with the US DoJ in May. Nothing came out of this assurance, and players were left wondering if they will ever see their money again. Five months later, the Cereus Network is again promising to refund the players.
Ex players of UB and Absolute Poker have been waiting long for what is rightfully theirs and it can be only hoped that they will be refunded soon.