FOLDED

FBI Shuts Down Top Poker Sites

Time for these online poker sites to put all their cards on the table. The founders of the three largest online poker sites have been indicted by the FBI on bank fraud and money laundering charges in a move that could be fatal to the online poker industry. The sites—PokerStars, Full Tilt Poker and Absolute Poker—have all since been shut down. A total of 11 executives from the companies were charged with bank fraud and money laundering by the Manhattan district attorney, and two were arrested in Utah and Nevada Friday morning. Federal agents are hunting for the others. Congress banned online gambling in 2006, but most sites have found a way around it by using foreign banks.