GTBill in the news again, looks like their bank was fined 733k for having them as a client
DOW JONES NEWSWIRES
Arizona's Goldwater Bank has agreed to forfeit $733,804 to resolve a claim from U.S. officials that the money was involved in illegal online gambling.
The deal was made not just with the Justice Department but the Troubled Asset Relief Program, in which the federal government invested in banks during the aftermath of the financial crisis.
Goldwater received $2.5 million from TARP.
Federal officials accused Goldwater of accepting deposits in connection with funds traceable to online gaming site Pokerstars. The bank allegedly accepted more than $13.3 million from the company and other sites in the first five months of 2009.
Goldwater was paid by Allied Wallet Inc. for clearing services. Allied Wallet Inc. and Allied Systems Inc. and their owner Ahmad Khawaja agreed last month to forfeit $13.3 million to resolve claims that the funds were involved in money laundering.
Goldwater denied knowing the transactions in question were related to illegal online gambling, but agreed to give up the money as well as implement anti-money laundering to safeguard the Treasury Department's TARP investment against future risks.
"Today's charges and settlement should send a powerful message to TARP recipients that they will be held strictly accountable for any misdeeds while they stand as custodians of taxpayer dollars," said TARP Special Inspector General Neil M. Barofsky.
http://online.wsj.com/article/BT-CO-...15-711118.html