Feds now cooperating with IRG on accounts

[NoCal Boy]

The article states the Feds are now working with IRG to pay accounts. This might put IRG back into compliance with Oregon for whatever it is worth. If the Feds are now working with IRG in some manner, who might they be targeting elsewhere (if anyone)?

http://news.bloodhorse.com/viewstory.asp?id=42953&source=rss

[betovernetcapper]

My read is that IRG isn't out of the woods yet. Feds haven't lifted hold on seized accounts, so they have some ongoing problems.
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To me IRG and RGS seem to be very very similar companies. We've heard about IRG's problems because it's part of a publicly held company. The feds next target has got to be RGS. Because it's not publicly traded something may have already
transpired and it's not in the media.

[NoCal Boy]

I agree that this is not over yet for IRG, but when the Feds are apparently working with, and not against, IRG on monetary matters, it is significant. The investigation is 3 months old from the time of the search and who knows how long before that time. There are less than 200 IRG customers, perhaps much less. Now we read the Feds are cooperating with IRG on getting customers monies back and there is a segregated, FDIC insured bank account which the Feds are allowing monies to be paid out. Hard to believe the Feds would do this after 3 plus months if they thought IRG itself as an operation was a conspirator in this matter. That does not mean some of IRG's customers might not be in deep trouble, or maybe some people affiliated with IRG. But the IRG operation itself does not appear to be the main issue at this moment if the Feds are indeed cooperating with them now on monetary matters. At least that is my reasonable read of the situation given this article. I might be all wrong or the article might be wrong. Time will tell.

Don't know anything about RGS. Ask jilllybeans since she apparently talks to the attorneys at ICE and has inside knowledge. While you are at it, ask her why ICE is being (N)ICE now to IRG on this bank account. :D

[betovernetcapper]

NoCal-the notion that the Feds are "working with " IRG is simply YouBet spin. Another spin is that the Feds are "allowing them to". Note that there are no quotes from any Fed in Ryan's article.
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I don't think that Jilly has any inside information but in matters like this Jilly has been on target more often than not.

[PaceAdvantage]

Something tells me this whole thing is simply going to "go away."

[trigger]

I agree that this is not over yet for IRG, but when the Feds are apparently working with, and not against, IRG on monetary matters, it is significant. The investigation is 3 months old from the time of the search and who knows how long before that time. There are less than 200 IRG customers, perhaps much less. Now we read the Feds are cooperating with IRG on getting customers monies back and there is a segregated, FDIC insured bank account which the Feds are allowing monies to be paid out. Hard to believe the Feds would do this after 3 plus months if they thought IRG itself as an operation was a conspirator in this matter. That does not mean some of IRG's customers might not be in deep trouble, or maybe some people affiliated with IRG. But the IRG operation itself does not appear to be the main issue at this moment if the Feds are indeed cooperating with them now on monetary matters. At least that is my reasonable read of the situation given this article. I might be all wrong or the article might be wrong. Time will tell.

Don't know anything about RGS. Ask jilllybeans since she apparently talks to the attorneys at ICE and has inside knowledge. While you are at it, ask her why ICE is being (N)ICE now to IRG on this bank account. :D

Based on the Turfway article (recent posting), it appears Turfway has taken the initiative and barred IRG. It's possible that Turfway (and other tracks) may never take IRG back even if this matter is "resolved" depending on what facts are made available when, and if, the resolution is announced.
Of course, Youbet may decide on its own that IRG type operations are not worth the risk.....this assumes that Youbet will continue to exist after this investigation is concluded.