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Internet Gambling: Citadel Commerce has $9.25 Million Seized by DOJ PDF Print E-mail
Written by Thomas Jensen
Friday, 18 May 2007
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Internet Gambling: Citadel Commerce has $9.25 Million Seized by DOJThe United States government’s “War on Internet gambling” continues as the Department of Justice seizes funds from a online payment processor that was doing business with the internet gambling industry. ESI Entertainment Systems Inc. ("ESI") (TSX:ESY) and Citadel Commerce Corp, a wholly owned subsidiary of ESI, today announced that further to the press release dated April 27, 2007 concerning the US$ 9.25 million Merchant Reserve Funds frozen by its processor in the USA, these funds have now been seized by the U.S. Department of Justice (DoJ).

All of these funds are Merchants' Reserves related to internet gaming except for approximately US$ 941,000 of Citadel's own capital. The company is continuing to work with the DoJ through its legal counsel to resolve the situation.



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Last Updated ( Friday, 18 May 2007 )
 
 
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