The cavalcade of news coming from the U.S. Government continues to churn today, as word broke that the Department of Justice filed a motion requesting a settlement agreement with Absolute Poker and UB that requires the parent companies of the two poker sites to forfeit all of their assets.

In a press release announcing PokerStars’ purchase of Full Tilt Pokerreleased on Tuesday, U.S. Government officials explained, “The motion also requests that the Government be permitted to liquidate the Absolute assets, with the net proceeds of that sale to be held pending the resolution of claims filed by other parties who have asserted an ownership interest in the Absolute assets.” Who the “other parties” are is not clear.

The Government added that the proposed settlement with Absolute Poker and the ones reached today with PokerStars and Full Tilt Poker do not “constitute admissions of any wrongdoing, culpability, liability, or guilt by any parties.” The Government added in its complaint that Absolute Poker’s assets “constitute the proceeds of bank fraud, wire fraud, and property involved in money laundering and the operation of illegal gambling businesses.”

All assets of Absolute Poker shall be forfeited to the United States Government if the request goes through, with companies singled out including Absolute Poker, Ultimate Bet, Absolute Entertainment SA, Blanca Games Inc., Hoop and Javelin Holdings Limited, Lacrosse Holdings Limited, Hoop Payment Solution Services Limited, and Morning Bliss Overseas Limited.

The Government requested that Absolute Poker put together a list of assets that will include a description of each asset, the location of each asset, information on any loans and liens, contact information of any responsible party, and the approximate value of each asset. The civil money laundering claims were dismissed with prejudice, with the exception of the claims against four companies associated with Absolute Poker.

The documentation also discusses the trending values of Absolute Poker’s assets and reveals that Absolute Poker’s operating license “lapsed.” As such, “As time passes with no play on either site, the value of the intangible assets diminishes.”

In addition, Absolute Poker and Ultimate Bet had a database of six million players, which “will have value to operators of competing internet poker sites located outside the United States… The value of Blanca Games’ player list to a potential purchaser diminishes as time passes, as the list becomes increasingly outdated.” By the same token, Absolute Poker’s software could become outdated as time marches on.

The document closes by arguing that as the weeks pass, the value of Absolute Poker’s assets will continue to fall: “If liquidation of Absolute Poker’s assets is blocked at this time, these intangible assets will continue to deteriorate in value.”

The filing was signed on July 27 and is notarized by a Notary Public in Massachusetts. Read the entire requested settlement agreementand the DOJ press release.

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