smf
07-14-2002, 11:55 AM
Almost put this over on Off Topic but since some here use PayPal to fund accounts I put it here...
I'd heard that ebay was buying paypal but hadn't heard of this. Is the AG there looking for state tax collection here from the avg Horseplayer Joe? If so, one w/ think he has better things to do.
Anyone think that Schwartz or Nyra nudged the AG, or is this guy looking for votes (or... just doing his job as he sees fit)?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
http://www.dallasnews.com/business/technology/stories/071202dnbiztechpaypal.b33ab.html
PayPal gets subpoena for online gambling activity
07/12/2002
Associated Press
MOUNTAIN VIEW, Calif. - Online payment provider PayPal Inc. said the New York state attorney general's office has issued a subpoena seeking information about the company's involvement in Internet gambling.
Mountain View-based PayPal received the subpoena earlier this week and plans to "cooperate fully" with the request, company spokesman Vince Sollito said Friday.
A spokeswoman for the office of New York state Attorney General Eliot Spitzer declined to comment on the request.
Spitzer, who has attracted headlines recently for cracking down on alleged conflicts of interest at investment banks, has been scrutinizing the online gambling market industry, which is expected to hit $4 billion in revenue this year.
PayPal has been getting a piece of the action by collecting fees for sending bets through its e-mail service. Online gambling accounted for about 8 percent, or $117 million, of the $1.46 billion processed through PayPal during the first three months of this year.
The rapidly growing payment service will stop handling online gambling transactions later this year if San Jose-based eBay's proposed acquisition of PayPal is completed. Citing legal concerns, eBay disclosed the plan to withdraw from the online gambling business Monday when it announced its proposed $1.5 billion acquisition of PayPal.
Gambling outside authorized sites, such as horse racing tracks, is illegal in New York and many other states. Online casinos have skirted U.S. authorities by establishing headquarters in offshore locations.
Critics of online gambling, including Spitzer, have been trying to curb the industry's growth by pressuring credit card issuers and other payment services to stop dealing with Internet casinos.
I'd heard that ebay was buying paypal but hadn't heard of this. Is the AG there looking for state tax collection here from the avg Horseplayer Joe? If so, one w/ think he has better things to do.
Anyone think that Schwartz or Nyra nudged the AG, or is this guy looking for votes (or... just doing his job as he sees fit)?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
http://www.dallasnews.com/business/technology/stories/071202dnbiztechpaypal.b33ab.html
PayPal gets subpoena for online gambling activity
07/12/2002
Associated Press
MOUNTAIN VIEW, Calif. - Online payment provider PayPal Inc. said the New York state attorney general's office has issued a subpoena seeking information about the company's involvement in Internet gambling.
Mountain View-based PayPal received the subpoena earlier this week and plans to "cooperate fully" with the request, company spokesman Vince Sollito said Friday.
A spokeswoman for the office of New York state Attorney General Eliot Spitzer declined to comment on the request.
Spitzer, who has attracted headlines recently for cracking down on alleged conflicts of interest at investment banks, has been scrutinizing the online gambling market industry, which is expected to hit $4 billion in revenue this year.
PayPal has been getting a piece of the action by collecting fees for sending bets through its e-mail service. Online gambling accounted for about 8 percent, or $117 million, of the $1.46 billion processed through PayPal during the first three months of this year.
The rapidly growing payment service will stop handling online gambling transactions later this year if San Jose-based eBay's proposed acquisition of PayPal is completed. Citing legal concerns, eBay disclosed the plan to withdraw from the online gambling business Monday when it announced its proposed $1.5 billion acquisition of PayPal.
Gambling outside authorized sites, such as horse racing tracks, is illegal in New York and many other states. Online casinos have skirted U.S. authorities by establishing headquarters in offshore locations.
Critics of online gambling, including Spitzer, have been trying to curb the industry's growth by pressuring credit card issuers and other payment services to stop dealing with Internet casinos.