Update: DoJ Unfreezes Pokerstars Luxemburg Account

Funds to be released

A new development in the case between the U.S. Department of Justice and Pokerstars has been reported this week, informing the public that the two entities have closed a deal with the emergence of an order signed by U.S. District Court Judge, Leonard B. Sand, dated September 2 2011.

Based on the agreement, the funds from a seized Bank Hapoalim Luxemburg account belonging to Sphene International Ltd, one of the companies named collectively as PokerStars, will be released. The amount of the funds has not been specified, it is only known that it will not include $ 5.5 million which has been tagged as being derived from online poker play for real money in the United States and is to remain in the account frozen until the legal action against the company is resolved.

The company can thank its neat record-keepers for being allowed to access the rest of the funds, as it was their work that enabled it to prove exactly what portion of the funds came from its US operations.

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