Legends balances being assumed

PhillyUnionCC · 04-17-13, 08:51 AM

Was literally about to post this. Wtf is that bullsht. I'm pissed

Stallion · 04-17-13, 09:00 AM

Wow.

Ballpark · 04-17-13, 09:04 AM

No doubt to The Greek?

PhillyUnionCC · 04-17-13, 09:08 AM

The greek dosent accept us players right?

Steroids#1 · 04-17-13, 09:10 AM

the greek got indicted too

PhillyUnionCC · 04-17-13, 09:11 AM

Guess we can kiss everything goodbye ? This is the first time I saw this happen so I'm clueless hahah

Steroids#1 · 04-17-13, 09:12 AM

An unsealed indictment released on Wednesday morning by the US Department of Justice shows a massive crackdown on Legendz Sports (formerly Legends Sports), a very well-known offshore betting operation.According to CalvinAyre.com, its founder Luke King, his wife Serena King, other Legendz executives and at least “23 other companies that allegedly helped move money between gamblers and the Legendz website” have been named in the indictment.
The documents, which were unsealed in a federal court located in Oklahoma City, Oklahoma, show that Legendz Sports company profits exceeded $1 billion since 2003 alone. The 95-page indictment shows that while the site was based out of Costa Rica and Panama, it still accepted wagers in the United States via “agents” and bookies, as well as telephone bets from USA sports bettors as well.
The extremely revealing indictment also names 20+ smaller betting sites that were ran by Legendz or were somehow related to the company, including BetJamaica.com and BetLegends.eu. It’s unclear if any of the .com’s that were named on pages 16 and 17 will be shut down this week, as the FBI has yet to put a formal seizure warning on any of those properties as of the time of this story.
Acting assistant attorney general Mythili Raman and the US Department of Justice will be seeking at least $1 billion in fines for Legendz Sports continuing to accept wagers from Americans illegally for the better part of a decade. Company assets include a private jet, a cache of luxury cars, real estate holdings and other offshore banking accounts.
The penalty itself is similar to the one the DOJ had previously sought against PokerStars and Full Tilt Poker post-”Black Friday.” The actual amount paid by PokerStars (who ultimately ended up acquiring Full Tilt and its assets) was $731 million, making it the largest settlement thus far for the Department of Justice since UIGEA passed in 2006.

Ballpark · 04-17-13, 09:12 AM

If they say they are going to transfer, then why would they BS?
They could have just closed the site down.

Steroids#1 · 04-17-13, 09:13 AM

Anyone get an email yet?

Steroids#1 · 04-17-13, 09:14 AM

I don't think they are bs'ing.... But I do think we are going to have to wait weeks for our money..

PhillyUnionCC · 04-17-13, 09:17 AM

I honestly am not gonna hold my breath

Steroids#1 · 04-17-13, 09:18 AM

u get an email yet?

unluckysob · 04-17-13, 09:21 AM

probably transfer to heritage.

Ballpark · 04-17-13, 09:24 AM

No need to start a panic guys.
I'm sure they will pay.

Would be nice if SBR had some info about this.

Steroids#1 · 04-17-13, 09:34 AM

amen

patswin · 04-17-13, 09:38 AM

hope it works out well for all you guys with money there
i'd rather have this option that have them close up shop like others have

John Dough · 04-17-13, 09:40 AM

Originally posted by patswin

hope it works out well for all you guys with money there
i'd rather have this option that have them close up shop like others have

Agreed. If I had money there, I would be happy to receive this news.

RonPaul2008 · 04-17-13, 09:42 AM

Probably Heritage since they is what they did when the Greek booted US players.

raydog · 04-17-13, 10:04 AM

Originally posted by PhillyUnionCC

Guess we can kiss everything goodbye ? This is the first time I saw this happen so I'm clueless hahah

Originally posted by PhillyUnionCC

I honestly am not gonna hold my breath

your funds are very safe pal... calm down. the greek transferred flawlessly to heritage and Legends transfer should happen just as easy.

Ballpark · 04-17-13, 10:19 AM

I wonder if transfer of UK/Euro players at Legends will go as smoothly to Hertiage (if it is them)?

bostonboss · 04-17-13, 01:51 PM

glad i pulled out all my funds in the nick of time

poker6469 · 04-17-13, 02:59 PM

dont take a rocket scientist figure out who"s next

i got luckt too.got out of there months ago when cards and netteller problems .no it seen it before i guess its vegas for now on.

johnpendred · 04-17-13, 03:00 PM

just a heads up legendz wise

my source is telling me people are gonna get screwed over by this "transfer ordeal"

i was the first one to post news story as i was informed a month before

SBR came on here and said everything was fine, now saying this transfer will be fine

just get money asap (obviously) as looks like most will not

touchback · 04-17-13, 03:13 PM

Legends... Heritage... Spiro... and NOW

Most likely… First, when Spiro moved all Greek US players and all ofBJ customers to Heritage it had been planned out for many weeks. Spiro had toget out of the US market to receive a sweetheart deal from the DOJ and after hesaw BetHorizon moved to Heritage and also all these guys knowing each otherfrom the beginnings of Pinny and all having a high level of respect in the biz hebasically piggy backed the Horizon deal and moved all his customers to the Heritageplatform. So the first guy that came up with the first Horizon move is theground zero guy and I know who he is. SBR was, I know for a fact, the last toknow this deal was going down. Dozer found out hours after the Heritagecompany-wide announcement on the wagering floor about the G/BJ move on a Fridayafternoon and Dozer called the GM that evening to confirm….<o

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Spiro kept the Greek non US customer base and let Heritage manageall the other accounts. His involvement with Legends is and was not really thatmuch of anything technically. Most of these main guys all know each other likeI said from the days of Pinny and can have a lunch or call and shoot the shitany second they want. Which also means they get involved in other aspects ofbusiness which is mutually beneficial to all involved. Such as real estate, ITtech and or service providers or dozens of other things. The DOJ can easilyjust decide to link any of these aspects of business to some illegal aspect ofgaming any of the parties are already or had been previously involved in andthrow down an indictment. Indictments are just a Federal legal statement sayingwe have or may have a case of criminal wrong doing. It is not a conviction, itis not even technically a legal criminal case…. It is a precursor that issaying we are thinking there is or may be a case of criminal wrong doing and wemay bring a case of criminal wrong doing based on these parameters andvariables. While we decide what we are going to do though we are freezing andor temporarily seizing these assets because they may be involved in or gainedfrom illegal activity. Also, these are the people we think are involved and howthey were/are involved in said criminal activities.<o

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Legends had/has a plan B because it is sometimes known when theFeds are taking a hard look at something and that appears to be the case. SoLegends is going to kill off the brand and move all the customers to anotherservice that they respect and feel the customers will be happy to stay at andis strong enough to make them feel comfortable not to withdrawal all theirfunds the first second they can. Just to make sure though that the new serviceprocessing infrastructure is not destabilized by a huge volume of unforeseen payoutsin April they are putting a 2x time rollover on transferred balances. This isreally nothing and many customers can knock this out on balances under 2 dimes withinthe week if not days or day. This will account for thousands of accounts thatwill qualify for payouts quickly but not all… which is the purpose, to giveplayers enough time to calm down and accept the new good service and thendecide everything is OK and keep their balances or most of their balancesintact.<o

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Possible services to be transferred too would be Heritage… theyhave proven they can handle it and that crew is always it appears hungry aswell as already having a relationship with Spiro. Heritage could also opt totake all customers and open up to all internationally… or most likely absorball accounts and go invite only. Or the customer base could be split and USgoing to Heritage and rest going to Greek or Cris. Also, all could just go toCris.<o

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Basically though, I believe all player account balances are absolutelysafe and also as an aside SBR loses another big advertiser and the revenues itreceives from said advertiser…. Man, SBR has lost more big advertisers thananyone in 36 months, that alone is a big deal.<o

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Bet10Heinekens · 04-17-13, 03:36 PM

Should Heritage players be worry

Since they have some kind of connection with Spiro or the owners of Heritage has no ties with the United States and living out of the DOJ jurisdiction

raydog · 04-17-13, 03:45 PM

your "source" is a fukking idiot and you are making an asshole of yourself by coming here begging for attention with this ignorant shit....did i miss anything? let me check with my source to see if i did....my god

Microphone · 04-17-13, 03:46 PM

Originally posted by johnpendred

just get money asap (obviously) as looks like most will not

????

BoontonNJ · 04-17-13, 03:58 PM

At the risk of sounding stupid, Legends itself is an offshore, online book (no agents)? But had other websites/companys/books under its umbrella that did have agents in the us?

Bet10Heinekens · 04-17-13, 04:05 PM

Are the Heritage ownership base out of the United States? Do they have real estates or investment, bank accounts, etc tied to USA?

johnpendred · 04-17-13, 04:13 PM

Originally posted by raydog

your "source" is a fukking idiot and you are making an asshole of yourself by coming here begging for attention with this ignorant shit....did i miss anything? let me check with my source to see if i did....my god

bro i came on here and said get your money asap
this transfer BS came out finally today
watch n see
personally i hope u have thousands on there and dont see a penny

johnpendred · 04-17-13, 04:14 PM

why did SBR take off places 6-10 for the FEB sportsbook poll?

cause legends was #10???

this is comical

johnpendred · 04-17-13, 04:16 PM

you guys sit here and listen and bow to SBR even after the BI BS

you guys will see what happens with this legends transfer as SBR has a nice hand in this as well

touchback · 04-17-13, 04:56 PM

Originally posted by johnpendred

you guys sit here and listen and bow to SBR even after the BI BS

you guys will see what happens with this legends transfer as SBR has a nice hand in this as well

Come on.... SBR is going to lose another large revenue stream.... they lost revenue off Greek and BJ when they moved to Heritage and every time they lose an advertiser... especially an A rated one let alone a B it hurts. Wise up... how does SBR have a hand in Legends. Legends as well as all the other A rated services got enough juice and weight to tell them to fk off any day of the week...

The Kraken · 04-17-13, 08:37 PM

You can all thank Teddy Mitchell for the Legendz indictment