UltimateBet, also known as UB, was one of the largest US poker sites before April 15, 2011. The story of this site had previously gone a bit cold after April 15th, the date now referred to as Black Friday by the American online poker playing community.
While it was well known that they had not been paying U.S. customers and were barely paying their small amount of remaining funds to international customers, not much has been heard from or about the company in quite some time. However, that all changed on January 19, 2012 when a new lawsuit against the parent company of UltimateBet came to light.
A group of 8 poker players filed a lawsuit in the U.S. District Court in California against 6356095 Canada Inc., which used to be known as Excapsa Software Inc. The group are alleging that Excapsa, as well as up to 10 Jane or John Does, violated the Racketeer Influenced and Corrupt Organizations (RICO) Act.
On top of that, Excapsa is being accused of defrauding players and exhibiting negligence which enabled over $20 million to be stolen from the many players who frequented high stakes cash games during UltimateBet’s most popular period.
The group … READ MORE