Federal search warrant served on Youbet/ IRG

[trigger]

"Other Developments

On October 4, 2007, a search warrant issued by the U.S. District Court for the
Central District of California was served on our company headquarters in
Woodland Hills, California, by special agents for U.S. Immigration and Customs
Enforcement, an agency under the U.S. Department of Homeland Security, for
various records including, among other things, business records of our IRG
business related to the wagering activities of certain customers. The
investigation is being run by the U.S. Attorney's Office in Las Vegas, Nevada.
At this point, we understand that the company is not a target of the
investigation. We are cooperating with the U.S. government in their
investigation."
http://www.sec.gov/Archives/edgar/data/814055/000101019207000174/youbet8k-20.txt

[JustRalph]

Ladies and Gentleman.........this may change everything.............

[betovernetcapper]

heard of this last week as a rumor-also heard rumor about some RGS people

[Premier Turf Club]

Its way, way bigger than just this raid. We got wind of something last week.

[Premier Turf Club]

Ladies and Gentleman.........this may change everything.............

That's a understatement.

[russowen77]

Normally this is just the tip of the iceberg.

[jillybeans]

The Kentucky Derby will be run by the US Justice Dept . next year...Where's little Johhny? Nice job..Bob Evans...you managed to bring the whole horse racing game down in two years. Bob..Kirk Brooks..scott Daruty...nice job c&^suckers

[john del riccio]

I'll make it 2/5 that the fan isn't big enough for all the %^#* thats gonna hit it.

John

[betovernetcapper]

I've got to email this link to my good friend Scottie

http://news.bloodhorse.com/viewstory.asp?id=41254&source=rss

[DeanT]

So a few customers perhaps have laundered money and they are looking into it? Is that what this is all about?

I would hope those warrants are restricted to only a few customers. The thought of a guy from Wisconsin with a wife and kids who pays his taxes having his private betting life gone through, all the while doing it perfectly legally with a NASDAQ listed company makes my blood boil.

[jillybeans]

RESTRICTED TO A FEW CUSTOMERS? I am hearing in the 100's..Included are prominent horse owners, horse trainers, and leading jockeys. Doubt if this dying sport will be able to digest the blow it about to receive..where's johnny?

[jillybeans]

One of the trainers won an Eclipse award? A few minor players? Only in kirk brooks, dana Parnhams, and Chuck champions dreams.....access the CHDN board on Yahoofinance for the official Louisville Perp Walk Song..to replace My old kentucky home....with mint juleps served on i.c.e.

[betovernetcapper]

....with mint juleps served on i.c.e.

i.c.e being Immigration & Customs Enforcement Dept' :lol:

[tbioaj]

PTC: You said its way, way bigger than just this bust. I wanna know, who got busted, Youbet didn't get busted. They are cooperating with the feds. Watch what you say.

[trigger]

I've got to email this link to my good friend Scottie

http://news.bloodhorse.com/viewstory.asp?id=41254&source=rss

From above article: "Details of the Las Vegas investigation by the U.S. Attorney’s Office haven’t been disclosed, but it is believed to involve activities affiliated with at least one other prominent off-shore ADW unrelated to Youbet and IRG, and possibly others"

[jillybeans]

what do you think...UBET won't cooperate with the Feds...this is all about betting horses offshore, interstate transportation of monetary items, tax evasion, extortion, race-fixing, dealing with forieg source capital, and lord knows how many more violations of the USA Patriot Act, Currency Act, Travel act, etc. You better watch how you reply until you are qualified to make even a response on a matter that you obviously know nothing about.

[Premier Turf Club]

PTC: You said its way, way bigger than just this bust. I wanna know, who got busted, Youbet didn't get busted. They are cooperating with the feds. Watch what you say.

I apologize. I saw that myself, I posted in haste this morning and was going to ask PA to edit it to "way bigger than just this raid." You are right, I did not mean to imply anyone had been arrested, or would be imminently. If any othe moderators are reading this, please change the wording of my post.

[jillybeans]

Don't worry PTC....you are a visionary of sorts. stay tuned as the world of horse racing is about to be dealt its most major blow yet....what we read this morning is equivalent to the top of the 1st in a 9 inning baseball game...

[betovernetcapper]

From above article: "Details of the Las Vegas investigation by the U.S. Attorney’s Office haven’t been disclosed, but it is believed to involve activities affiliated with at least one other prominent off-shore ADW unrelated to Youbet and IRG, and possibly others"

I truly hope it's not RGS because they have a connection to Churchill and I've just been given an unsolicited membership in TwinSpires. If RGS is involved in anything untoward, it might jepordise my plans of getting a three piece ash tray set.

[jillybeans]

Dont worry betonover...they may also include a signed orange jumpsuit that will be worn by.....( who is our favorite Churchill employee?).....

[john del riccio]

....what we read this morning is equivalent to the top of the 1st in a 9 inning baseball game...

...or eight men out...........

John

[jillybeans]

i hear triple digit indictments..our government froze a lot of assets two weeks ago and can't present the indictments, from what I am hearing, is because the names coming out from the initial accused keep coming...and apparently their phones were legally wiretapped for quite some time...how will horse racing recover from this? will horse racing follow jai-alai?

[MakinItHappen]

I'll make it 2/5 that the fan isn't big enough for all the %^#* thats gonna hit it.

John

Sounds like it is going to be an ugly one! and VERY MESSY!! :lol:

Gotta take The Fan here though, even at this short price. Just can't see the "%^#*" holding up at this distance and on this track vs. The Fan. The Fan is a monster and has never been beat. This looks to be shaping up as one of the biggest azz-whoopings since "%^#*"s half-brother Soft %^#* met up with The Fan's full-brother, Hard Rain. As you recall, Soft %^#* completely fell apart in that one! :lol: :lol:

I think Chickenhead should have instilled The Fan as his Lock O' da Day! Once he gets the track variants, he may want to take a second look at that one!

Fasten' your chinstraps, position steel cup and don your absbestos underwear! This one is going to get fugly!

MakinItHappen

[jillybeans]

Can i still 'spin the wheel' at the Poker palace...home of the rebate on NYRA..TBD...Keeneland..Delaware Park...whoa...look at that wheel spin...where it will stop...nobody knows...congrats...little johnny...you won a 452,000 cash prize in our weekly drawin...step right up..next?

[DanG]

i hear triple digit indictments..our government froze a lot of assets two weeks ago and can't present the indictments, from what I am hearing, is because the names coming out from the initial accused keep coming...and apparently their phones were legally wiretapped for quite some time...how will horse racing recover from this? will horse racing follow jai-alai?
With all due respect let’s not get ahead of ourselves.

One note: There not getting my YouBet Waffle Iron back without a fight! ;)

http://www.geocities.com/Heartland/Ridge/4478/revenuers3.jpg

[trigger]

http://www.tradingmarkets.com/.site/news/SMALL%20STOCK/687334/
Youbet.com Plummets On News Of Search Warrant

[betovernetcapper]

If I.C.E. pays a similar visit to TrackNet regarding RGS, anyone have any thoughts about CDHN?

[jillybeans]

The new CHDN company suit will be orange, with sneakers, and big black numbers on their back....New standards?

[QuarterCrack]

This reminds me of that scene in Goodfellas set to the ending of "Layla" where all the bodies start turning up all over the place.

[Premier Turf Club]

This reminds me of that scene in Goodfellas set to the ending of "Layla" where all the bodies start turning up all over the place.

IMHO, one of the great motion picture scenes of all times.

[trigger]

If I.C.E. pays a similar visit to TrackNet regarding RGS, anyone have any thoughts about CDHN?

Seems to me that the feds would have carried out simultaneous searches at any of the other prime suspects' locations in the USA.

[john del riccio]

IMHO, one of the great motion picture scenes of all times.


...so was the end of CASINO !

[Premier Turf Club]

...so was the end of CASINO !

John, I only saw that movie once, a long time ago and don't really remember it all that well. Maybe I'll rent it again this weekend. Goodfellas, on the other hand I've seen dozens of times.

[john del riccio]

John, I only saw that movie once, a long time ago and don't really remember it all that well. Maybe I'll rent it again this weekend. Goodfellas, on the other hand I've seen dozens of times.

Ian,

Something about the sound that an aluminum baseball bat makes has never been the same since I saw the end of that flick.............


John

[rrbauer]

As I recall (correct me if wrong) one of the plea conditions when Neteller settled with the Feds was cooperation and providing access to customer records.

Just like Arizona. Bet a horse, go to jail.

[chrismc]

Going from $2.00 to $1.50....

Except if your a YB executive and their 100,000 options given at the start employment.

[Indulto]

Boy, I haven't seen such handwringing doom and gloom since Enron. Did somebody call off the Breeders' Cup? ;)

Exactly what is the worst case scenario here? C'mon jilly, spill the beans! :bang:

[betovernetcapper]

Boy, I haven't seen such handwringing doom and gloom since Enron. Did somebody call off the Breeders' Cup? ;)

Exactly what is the worst case scenario here? C'mon jilly, spill the beans! :bang:

I going to take a wild guess and say that Jilly probably isn't all that unhappy-I know that I've been holding my grief in fairly well. I'm been hiding my sorrow so well that a couple people have asked me "What are you so #$%^& happy about?". :lol:

[trying2win]

Where did this uncouth yahoo named Jillybeans come from? I've just added this character as the 23rd member on my IGNORE LIST.

[betovernetcapper]

Just because he's uncouth doesn't mean he's uncorrect.

[Indulto]

I going to take a wild guess and say that Jilly probably isn't all that unhappy-I know that I've been holding my grief in fairly well. I'm been hiding my sorrow so well that a couple people have asked me "What are you so #$%^& happy about?". :lol:Hey BONC,
Next time you yak with your buddy, Scottie, please convey my condolences for his loss in the battle for New York, and the setting of the sun on a MEC-CDI Empire. :jump: :jump:

[tbioaj]

I apologize. I saw that myself, I posted in haste this morning and was going to ask PA to edit it to "way bigger than just this raid." You are right, I did not mean to imply anyone had been arrested, or would be imminently. If any othe moderators are reading this, please change the wording of my post. PTC: Thanks for responding in a classy way. TB

[alydar]

IMHO, one of the great motion picture scenes of all times.

Agreed, one of my favorites. I have seen countless times and still love it!

[betovernetcapper]

Hey BONC,
Next time you yak with your buddy, Scottie, please convey my condolences for his loss in the battle for New York, and the setting of the sun on a MEC-CDI Empire. :jump: :jump:

I sent them a link to my post on the matter ;)

http://www.paceadvantage.com/forum/showthread.php?t=40330

[Kelso]

Is this likely to involve the conduct of races, or only the conduct of business? :confused:

[highnote]

What is this whole investigation about?

I wonder if it is more substantial than the NYRA investigation about jockey weight. :rolleyes:

[GameTheory]

Yeah, everyone seems to know what this is all about? From reading the article and even from the comments in this thread, I have no idea what is going on...

[the_fat_man]

Boy, I haven't seen such handwringing doom and gloom since Enron. Did somebody call off the Breeders' Cup? ;)

Exactly what is the worst case scenario here?

It's bad, Doof

From what I read, DRUGS was supposed to be on Serling's show this weekend on EEEWWWbet. :bang::bang:

That probably won't happen now. :mad:

Now, that's EARTH SHATTERING news!!!

[Indulto]

It's bad, Doof

From what I read, DRUGS was supposed to be on Serling's show this weekend on EEEWWWbet. :bang::bang:

That probably won't happen now. :mad:

Now, that's EARTH SHATTERING news!!!What, still no credibility barrier breaking? What are they hiding over there besides horses? ;)

Does anybody know the date of DrugS's appearance on ATRAB if that rumor was true?

[PaceAdvantage]

Keep on topic, please.

[jillybeans]

Bob Evans ordered his mint julep last night...on I.C.E. Sorry to see Empire disband....geez, Bob...did you have a little insight as to the status of one of your personal partners....well bob evans....Eliot Spitzer slammed the door in your, kirk brooks, dana parnhams face...can't sell the signal behind NYRA's back boys.....what a shame....I.C.E. Incarcerating Crap-net and Evans....Bob Evans...CFO at i2 technologies..stock dropped 99.7 pct...Bob evans...CEO of CHDN for 2 years ...about to bring horse racing to its knees....

[trigger]

http://www.thoroughbredtimes.com/national-news/2007/October/11/Breeders-Cup-wagering-unlikely-for-Youbet.com.aspx

Breeders’ Cup wagering unlikely for Youbet.com
"A consultant negotiating simulcast deals for this year’s Breeders’ Cup World Championships said it is unlikely advance-deposit wagering outlet Youbet.com will carry this year’s event. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Kirchner expects the Breeders’ Cup to be available to TVG and all of TrackNet Media’s outlets, which include XpressBet, Twinspires.com, Brisbet.com, and AmericaTab.

“There’s still some negotiating, but I anticipate we’ll reach deals with most of the recognized ADWs,” Kirchner said. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
North Dakota-based Premier Turf Club has signed a deal with Breeders’ Cup to offer the Friday and Saturday Breeders’ Cup cards and is working with Monmouth Park to offer the non-Breeders’ Cup races on those cards."

[JustRalph]

it's hard to run a an ADW when you are hiding from the Feds........ :lol:

[trigger]

http://www.thoroughbredtimes.com/national-news/2007/October/11/Breeders-Cup-wagering-unlikely-for-Youbet.com.aspx

Breeders’ Cup wagering unlikely for Youbet.com
"A consultant negotiating simulcast deals for this year’s Breeders’ Cup World Championships said it is unlikely advance-deposit wagering outlet Youbet.com will carry this year’s event. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Kirchner expects the Breeders’ Cup to be available to TVG and all of TrackNet Media’s outlets, which include XpressBet, Twinspires.com, Brisbet.com, and AmericaTab.

“There’s still some negotiating, but I anticipate we’ll reach deals with most of the recognized ADWs,” Kirchner said. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
North Dakota-based Premier Turf Club has signed a deal with Breeders’ Cup to offer the Friday and Saturday Breeders’ Cup cards and is working with Monmouth Park to offer the non-Breeders’ Cup races on those cards."

UPDATE:Breeders’ Cup, Youbet.com working on simulcast deal:
Lonny Powell, of Youbet.com, said the two sides have not reached an agreement but he believes they will complete a deal to allow the ADW to carry the Breeders’ Cup.
Powell said negotiations were slowed because Youbet.com, as a California-licensed company, was not allowed to pay host fees higher than 3.5%. He said the CHRB has since lifted that regulation for this year’s Breeders’ Cup.
Powell said the problem had not come up in previous years because Youbet.com was not aware of the state regulation and had been paying higher fees to the Breeders’ Cup.
“They have presented a deal that’s agreeable to us,” Powell said. “We’re drafting up the agreement.”

http://www.thoroughbredtimes.com/national-news/2007/October/11/Breeders-Cup-wagering-unlikely-for-Youbet.com.aspx

[Unome]

The investigation is being run by the U.S. Attorney's Office in Las Vegas, Nevada.


From todays paper in Las Vegas

ON THE BOULEVARD I: The big-time horse players who were interrupted by law enforcement authorities at the Palms recently are keeping a low profile. So far, law enforcement sources are keeping quiet about their investigation. :rolleyes:

[skate]

Keep on topic, please.`

and the topic "IS" ? thank you.


jeesuus:eek:

1) this may change everything?

2) your guess is as good as mine?


3) why those little "so-and-so's"?


4) OR :rolleyes:

[PaceAdvantage]

`

and the topic "IS" ? thank you.Why, it's about:

Federal search warrant served on Youbet/ IRG