Tuesday, May 15, 2007

Firepay Assets Siezed by U.S. DOJ


Shares of Optimal Group Inc. (parent company of the Firepay e-wallet service) fell sharply Monday after the Montreal-based company had nearly $20,000,000 frozen by the U.S. Attorney's Office in the Southern District of New York.

$4.2 million has been siezed directly from the Firepay reserve accounts, with another $15 million siezed from Optimal Group's money market accounts.

While this won't be as disastrous as the Neteller account siezures, this is bound to catch some online poker players off guard. Neteller, E-gold, and now Firepay...Epassporte and the other e-wallets currently in operation can't be far behind.

Full details at Forbes.com