points us to the news that the well known online poker playing site UltimateBet.com has been fined $1.5 million
as part of an ongoing investigation into what appears to be a rather massive scheme to defraud online poker players
by giving some insiders the ability to see all the cards other players held. Over the past year, this story has been building up steam, as the fraud was actually called out by some other players who questioned how certain players had been able to win so much. Using statistical analysis, it was shown to have been close to impossible, without inside knowledge, and the latest report does, indeed, pin some of the blame on a well-known poker player who was an initial "consultant" to one of the companies involved in this mess. If you read the MSNBC link above, you'll see that there are a number of different companies involved, but it sounds as though many are simply shell companies for the same group of people, with attempts to move assets around for a variety of purposes. So, it's not yet entirely clear who was involved beyond the one player named, but more names are expected to be released later this year, as investigators finish up their investigation.
What may be most interesting about the whole ordeal was that it was exposed not by the body charged with actually regulating the online casino, but other players who were able to sniff out the details working together in online forums. Chalk another one up to the wisdom of the crowd.