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This announcement is currently posted on the PD forum...

PokerDream Is Still Investigating the Recent Fraudulent Credit Card Activities and Massive Credit Card Chargebacks placed by players. Once the investigation is complete we will be posting all the players names along with the transactions they made.
Currently the only payout options we have available are Click2Pay, ePassporte and Moneybookers. If you wish to withdraw funds from your poker account. We suggest you make your request immediately.

PokerDream

03/22/2008 - UPDATE *****

We have compiled the list of players who charged back the money they deposited into the their player accounts. Download it here www.pokerdream.com/download/cb.pdf

What is a chargeback?

Anyone who uses a credit card can at ANY time call their credit card company or bank and state that the charges made on their card were not authorized by them. They do NOT need to give the credit card company or bank any other reasoning. The credit card company or bank will immediately take the funds back from the company which made the charges in our case PokerDream.

The players listed in this document deposited real money into their account, played games and in most cases lost to other legitimate players on the PokerDream network and in some cases did a player to player transfer. After our credit card account began to have these charge backs our credit card merchant CLOSED our account reversed a wire they had already sent to PokerDream and then decided to KEEP all the money in reserve as well. This caused the PokerDream network balances to go into a deficit and is the PARTIAL cause of the current situation.

After speaking with our company counsel we cannot give out any information regarding the players who used stolen credit cards until after the authorities have completed their investigation and they have given us the OK to post the information publicly.

ALSO we have tried to contact J TODD by phone today many times to discuss the current situation however we have been unable to reach him to discuss. We will keep trying.

In December 2007 as many of you are aware the PokerDream Network was taken over by new management. This new "management" began to make many many significant changes to the network. During the first 2 months of 2008 this new person put up a lot of great games many of which were Freerolls and Guaranteed Tournaments. This increased the players accounts by a large amount of free money. However the new person never funded the PokerDream network with the money to cover these free cash gifts to the players and never started his big marketing campaign to bring in new depositing players and at the end of February. Well using his own words. "He walked away."

More to come ....

As a side note:
Players are apparently receiving withdrawn funds at this time.
If you have money on account there, now is the time to get it out.