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fatshaft
Prodigal
Joined: 07 Feb 2004
Posts: 4794
Location: Warrington/Wolston, England (but Scottish!!)
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 Posted: Tue Sep 30, 2008 10:37 am Post subject: UB Scandal - It's officially $6.1 MILLION stolen |
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Kanawahke have released their findings (some of them) and are pointing the finger fully at Russ Hamilton, and have stated the figure stolen as $6.1m.
A much much more damning outcome than the whitewash that followed in the wake of the Absolute cheating.
http://majorwager.com/index.cfm?page=27&show_column=694 |
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Scully
Joined: 25 Jul 2004
Posts: 729
Location: Manchester, UK
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| Posted: Tue Sep 30, 2008 10:46 am Post subject: |
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I read somewhere else (linked to a =4 post) that the total sum cheated was nearer $60m!!! No idea how much truth is in that.
Also, so the KGC fines UB $1.5m. Now maybe I'm a sceptic but who gets the benefit of the $1.5m????? |
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fatshaft
Prodigal
Joined: 07 Feb 2004
Posts: 4794
Location: Warrington/Wolston, England (but Scottish!!)
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| Posted: Tue Sep 30, 2008 10:58 am Post subject: |
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| Scully wrote: | I read somewhere else (linked to a =4 post) that the total sum cheated was nearer $60m!!! No idea how much truth is in that.
Also, so the KGC fines UB $1.5m. Now maybe I'm a sceptic but who gets the benefit of the $1.5m????? |
No, $60m was a typo on the site that reported it, they have sonce corrected their mistake. |
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Scully
Joined: 25 Jul 2004
Posts: 729
Location: Manchester, UK
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| Posted: Tue Sep 30, 2008 11:19 am Post subject: |
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| Well that's one thing cleared up - but what happens to the other $1.5m??? |
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Bullajami
Uber Squid
Joined: 03 Sep 2004
Posts: 8889
Location: Mrs. Bull's Doghouse
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| Posted: Tue Sep 30, 2008 11:53 am Post subject: |
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This is looking better, but I have lost my faith in KGC. I have no confidence that this is finally "justice". Or full disclosure.
My vote for the $1.5M is to fund the prosecution of Russ Hamilton. If the findings are true, he belongs in prison. |
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taz115
Hzamm9rd, Yo!!!
Joined: 08 Oct 2005
Posts: 8477
Location: Edmonton, Canada
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| Posted: Tue Sep 30, 2008 4:33 pm Post subject: |
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Also, I have a hard time believing that any one person is resposible. For 6.1M to be stolen and withdrawn from a site I think several people had to have had knowledge of this and done nothing.
I definately have no confidence in the KGC. When a big company names one person and one person only it looks like he was thrown under the bus because they know they can make it stick to him.
I hope he does wind up in jail. |
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Stew21
Joined: 03 Oct 2006
Posts: 999
Location: Orlando, Fl
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| Posted: Tue Sep 30, 2008 5:40 pm Post subject: |
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| If you look at the person, or persons, doing the finger pointing and you'll most likely see the other culprits. |
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fatshaft
Prodigal
Joined: 07 Feb 2004
Posts: 4794
Location: Warrington/Wolston, England (but Scottish!!)
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| Posted: Wed Oct 01, 2008 7:24 am Post subject: |
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| Scully wrote: | | Well that's one thing cleared up - but what happens to the other $1.5m??? |
Aye, good point. After all the KGC admitted they own both UB and Absolute (through Tokwiro Enterprises) at the start of the year. So effectively they have just fined themselves. Does that make the fine essentially $0? |
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Piscivorous
Bamboozler
Joined: 06 May 2004
Posts: 5001
Location: Just being lovable
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| Posted: Wed Oct 01, 2008 3:54 pm Post subject: |
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| fatshaft wrote: | | Scully wrote: | | Well that's one thing cleared up - but what happens to the other $1.5m??? |
Aye, good point. After all the KGC admitted they own both UB and Absolute (through Tokwiro Enterprises) at the start of the year. So effectively they have just fined themselves. Does that make the fine essentially $0? |
I'd like to see them donate the "fine" to something like the PPA. Doing that would at least show some kind of "good-faith" gesture. But I'm unsure how donations work in Canada and less sure about how they work for a First Nation company within Canada. If it works anything like here in the US, the act of donation can be written off in taxes which leaves us at square one.
Personally I have a problem with a Gaming Commission owning a poker site they are supposed to be watch-dogging. I don't even like the idea of them owning one that someone else might be watch-dogging. |
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Fumseck
Cannuque
Joined: 17 Jun 2005
Posts: 3358
Location: Quebec, Canada
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| Posted: Wed Oct 01, 2008 5:06 pm Post subject: |
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| Bullajami wrote: | | If the findings are true, he belongs in prison. |
Where? |
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toronexti
53o
Joined: 03 Sep 2004
Posts: 4242
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| Posted: Wed Oct 01, 2008 8:51 pm Post subject: |
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| Fumseck wrote: | | Bullajami wrote: | | If the findings are true, he belongs in prison. |
Where? |
Guantanamo |
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fatshaft
Prodigal
Joined: 07 Feb 2004
Posts: 4794
Location: Warrington/Wolston, England (but Scottish!!)
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| Posted: Thu Oct 02, 2008 10:22 am Post subject: |
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Seems that the $6.1m is less than half what has actually been stolen, according to the investigator himself..
http://www.msnbc.msn.com/id/26963451/
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The amount of money allegedly stolen from players in the high- and no-limit games on UltimateBet has not been made public, but the KGC news release said that the site has so far returned $6.1 million to players impacted by the cheating. Catania, who is president of Catania Gaming Consultants, declined to put a figure on the theft, but said that the amount repaid so far was less than half of the total. |
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