Below was in today's Memphis Commercial Appeal, the main newspaper in this area. I don't have a link yet (working on it), but this is a cut and paste of an article (it's copyright material, so I'm posting snippets only):
Memphis Commercial Appeal 06/10/2009, Page A03
Online poker accounts frozen
An advocacy group for online poker said Tuesday that the federal government has frozen more than $30 million in the accounts of payment processors that handle the winnings of thousands of online poker players...
... The Poker Players Alliance said the U.S. attorney for the Southern District of New York instructed three banks to freeze the accounts.
In a letter dated Friday and faxed to Alliance Bank of Arizona, the prosecutor said that accounts held by payment processor Allied Systems Inc. are subject to seizure and forfeiture ...”
What this means is that Account Services writes checks to players who are cashing out. As a result, thousands of players receiving checks from the company will try and cash them and they'll bounce. We've already seen this in a blog piece called Puke by cracknaces.
UPDATEs: Here's a link to The New York Times article. Thanks to Poker Cats for providing it on his very nice web site.
And this link to a Wall Street Journal piece that you can read here thanks to a link from Ken P's interesting web site.