Because of the litigation, Russ Hamilton 토토사이트and a few other stakeholders were required to give up their ownership interests in the company; nonetheless, he did not face any punishment for his participation in the matter.
You may recall that Enterprises had put a hold on their payments for the purchase of Exscapa Software in September of 2007. Because of this circumstance, members of the poker community began to wonder whether or not Tokwiro Enterprises was aware of the cheating that was going on at both of its sites; nevertheless, it was impossible to establish that this was the case.
In the complaint, it was alleged that cheating토토사이트 occurred due to a problem with the software. Tokwiro Enterprises asserted that Exscapa Software had distributed defective products to customers because of the software fault.
Because selling the company was such a difficult process, all of the company’s previous executives continued to work there after it was sold.
Around the same time that Tokwiro stopped making payments, Exscapa Software did, however, have some assets that were in the process of being liquidated. Following the conclusion of the legal process, the assets were made available to as part of the $15 million settlement, and any further payments for the transaction were ignored.
n had already paid out in refunds, this additional $15 million was utilized to compensate gamers who had been defrauded by the company. A little more than $22 million was distributed to players due to refund requests made on UltimateBet.
Uri Kozai was a programmer at UltimateBet who was assigned the responsibility of determining which accounts had been hacked and how much money was owed to the players.
Kozai totaled up the profits from all accounts recognized as dishonest at the time. Because these gains totaled $22 million, the corporation decided to give back that sum of money to the gamers.
Those computations, however, did not audit each hand played by those accounts.
The refund amount does not take into account any of the hands in which the cheaters folded since they were aware that the other players had a superior hand. This is because they did not study the individual hands.
Although the $22 million in refunds represented a tremendous sum, it was not an actual reimbursement of every penny that each player most likely deserved.
There were very likely further accounts of cheating that were left out of the calculations.
Thousands of hands impacted individual players but were not considered when calculating reimbursements.
Developing a Reputation for a New Organization
Paul Leggett promoted the rumor that UltimateBet was now run by new management by using the case he filed against Exscapa Software as a vehicle. He stated that because they were a new firm, the players did not need to be concerned about the safety of playing poker on the website because they had just started the business.
Tokwiro Enterprises’ Joseph Tokwiro Norton was meant to be the only proprietor of the business. Leggett, of course, failed to consider the fact that former executives were still receiving compensation due to a consulting agreement.
Tokwiro Enterprises completed the merger of its two holding companies in July 2008. The merger of Blast Off Ltd. and Madeira Fjord formed the new Cereus Network.
Under the aegis of the new firm, both Absolute Poker and UltimateBet were brought to life.