No Escape for Excapsa
Tokwiro Enterprises, owners of online gambling companies, AbsolutePoker and UltimateBet and recent online poker pariahs, today confirmed a settlement toward its claims against Excapsa Software, the previous owner of UltimateBet.
The Honorable Madame Justice Sarah E. Pepall from the Ontario, Canada’s, Superior Court of Justice endorsed the settlement on November 3 and under the agreement’s terms, Excapsa will pay $15 million to Blast-Off Ltd., the Tokwiro-controlled company that originally acquired UltimateBet and, thus, was ultimately responsible for the hole-card corruption that went on for years, fleecing players of millions of dollars.
This $15 million will be used primarily to refund players who lost out from the cheating scandal Tokwiro was saddled with when it bought the business from Excapsa. "We are pleased that we have finally agreed to a settlement with the previous owners of UltimateBet, and we are happy to announce the completion of the final refunds to players,” said Paul Leggett, Tokwiro's Chief Operating Officer. “Together with our regulatory body, the Kahnawake Gaming Commission, we have fought long and hard to hold those responsible accountable for the fraud, to refund players, and to ensure this can never happen again. Now that the main perpetrator has been named, the settlement with the previous owners is behind us, and players have received refunds, it should now be apparent that Tokwiro had no involvement in this cheating and that we have fought to correct it with every tool at our disposal.”
With more and more online cheating scandals coming to light, experts believe it’s inevitable more are on the way and that it’s up to individual players to remain vigilant about not just their own play, but how their operators conduct business. After all, the most reputable company can always have a bad element to wreak havoc and endless bad beats on its customers.