Replies to post #6974 on Indo Global Exchanges Pte Ltd (IGEX)

[Daguvanuh]

Elmag, to answer your question..... .
We have made contact with John several times and told him since he has relationships with Jakardian banks to set up a liaison with them and players here to those banks ( or a bank) there that would handle a private account for a person wanting to play.
It would be service fee applicable annually to IGEX and probably have a small monthly fee from the bank there.
After funding that account (which is legal for anyone to have an offshore account) then you could fund one of the poker sites, party poker- pokerstars from it which is also legal there. If you won or needed to withdraw and repatriate money back to US there is a tax form coming back with it to make it legal.
The Unlawful Internet Gaming Enforcement Act in 2009 states it is unlawful for a US bank to fund the sites for a person because of tax evasion and laundering.
It is legal to fund the offshore account but there again the bank files a form with the US Treasury so both outgoing and incoming funds are tracked.
It is not illegal to play on these sites but the funding was/is the problem.
The two questions that remain would be would a player here have to hit a internet server offshore to play (which is very easy to access), and would the player have to have a physical address from somewhere else, (nothing a group time share on a single residence couldn't accomplish.
No we don't have all the answers yet... some 15 million players were shut out and many are willing to pay the $50 service fee to get findable access to do so...
I told him if only 5% of those shutout came on board that is 700K x $50 annual fee each so the expense to set this up and confirm no laws were being violated would be amortized quickly.

If they pull this off its a several dollar PPS on IGEX in short time... If they would announce the process of trying to set it up it would go to .50 .
If you are a old poker player and what this to happen hit John on his E-mail.... I gave him the numbers and reference places to get more than basic information... If you are long the stock hit him also...you need this to happen...