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Another $15 million will ultimately be refunded to players in the UltimateBet debacle
November 6, 2008 (InfoPowa News) — Hard on the heels of press reports concerning an Ontario Superior Court settlement between the software provider Excapsa and Blast Off Limited this week (see previous report), the Kahnawake Gaming Commission has issued an official statement.
The settlement forms a part of liquidation proceedings on Excapsa, which cannot realize the full benefits of a purchase price agreed in 2006 with Blast Off Limited until a $15 million question of compensation has been settled. Excapsa sold its flawed software with UltimateBet and Absolute Poker to an ex-grand chief of the Mohawks, Joe Tokwiro Norton.
The flaws in the software were subsequently exploited, allegedly by former WSOP champ Russ Hamilton, to cheat players at the online poker sites over several years. The cheating was exposed by player-detectives, and this eventually led to the KGC appointing an enquiry into the scandal by consultant and regulatory specialist Frank Catania. Based on Catania’s findings, the KGC imposed a $1.5 million fine on UltimateBet, considerably higher than a fine of $500,000 imposed on sister site Absolute Poker some weeks earlier.
