$85 million claim filed against UltimateBet software provider

MSNBC is reporting that Blast-Off Ltd. of Malta, a private company that currently has an ownership interest in Ultimate Bet has filed suit against Excapsa Software Inc. of Toronto, which formerly owned and licensed the poker software to UltimateBet and other gambling sites. Excapsa is currently being dismembered by a court ordered liquidator.

According to MSNBC,

Allegations that a long-running cheating scheme bilked players on a leading Internet poker site have triggered an $85 million claim against a Canadian company whose employees allegedly manipulated the cyberspace card room’s software so that they could see their opponents’ hole cards, msnbc.com has learned.

The alleged subterfuge on UltimateBet.com — one of the 10 top poker sites — is the biggest known case of fraud targeting an Internet gambling site and its customers, according to the company that owns the site. It is similar to a case of cheating that occurred last year on UltimateBet’s sister site, AbsolutePoker.com, but this time the thieves ran the scheme for far longer — at least from January 2005 to January 2008, it said.

Ultimatebet is the sister site of Absolute Poker which was also embroiled recently in a similar scandal.

All I can say is... took long enough for the main stream media to get interested in these scandals!!

Full story can be read at MSNBC.com