Citadel funds seized

18 May 2007

By Aaron Todd

The U.S. Department of Justice has seized $9.25 million in funds from Citadel Commerce, a third-party payment processor that had previously allowed U.S. residents to conduct financial transactions with Internet gambling companies. The Canadian-based company stopped processing U.S. gaming transactions in January, almost immediately after its competitor, NETeller, withdrew from the U.S. following the arrests of its two cofounders.

Another Canadian-based processor, FirePay, announced earlier this week that they have received seizure warrants from the DOJ for about $4.2 million in gaming-related funds. FirePay stopped accepting U.S. gaming transactions following the adoption of the Unlawful Internet Gambling Enforcement Act in October.

Citadel had announced in late April that these funds had been frozen by one of its financial transaction processors.

In a separate indictment this week, three payment processors and seven individuals have been accused of miscoding gaming transactions and funneling money to online casinos and sportsbooks. BetUS has been charged with conspiring with the payment processors.

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue Aaron Todd Home-game hotshot Aaron Todd was an editor/writer at Casino City for nearly eight years, and is currently the Assistant Director of Athletics for Communications and Marketing at St. Lawrence University, his alma mater. While he is happy to play Texas Hold'em, he'd rather mix it up and play Omaha Hi/Lo, Razz, Deuce-to-Seven Triple Draw, and Badugi. More about Aaron Todd More articles by Aaron Todd
	Citadel funds seized 18 May 2007 By Aaron Todd <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> The U.S. Department of Justice has seized $9.25 million in funds from Citadel Commerce, a third-party payment processor that had previously allowed U.S. residents to conduct financial transactions with Internet gambling companies. The Canadian-based company stopped processing U.S. gaming transactions in January, almost immediately after its competitor, NETeller, withdrew from the U.S. following the arrests of its two cofounders. Another Canadian-based processor, FirePay, announced earlier this week that they have received seizure warrants from the DOJ for about $4.2 million in gaming-related funds. FirePay stopped accepting U.S. gaming transactions following the adoption of the Unlawful Internet Gambling Enforcement Act in October. Citadel had announced in late April that these funds had been frozen by one of its financial transaction processors. In a separate indictment this week, three payment processors and seven individuals have been accused of miscoding gaming transactions and funneling money to online casinos and sportsbooks. BetUS has been charged with conspiring with the payment processors.