Iovation, for those of you unaware, has a CEO who founded Ultimate Poker, the now shuttered online poker site scarred by an internal cheating scandal that ultimately wound up being profiled on a segment of the CBS news magazine "60 Minutes".
Whether the folks behind PayPal were aware of Iovation’s skeletons, few seem to really know. PayPal bigwigs might not follow industry poker news but they certainly keep tabs on their own community forum, which now features a posted message regarding the controversy.
USPoker.com was among the first websites to note the cozy relationship between PayPal and Iovation.
And it is not the first time Iovation has developed business partnership arrangements with otherwise reputable companies.
Last March, the Station Casinos backed online poker site Ultimate Poker (not to be confused with UltimateBet) severed ties with Iovation once these past revelations came to light.
“We understand that there were concerns among some of our customers, we hope this makes our players feel more comfortable,” a short statement from Ultimate Poker read at the time.
Iovation is subcontracted through CAMS, itself a subsidiary of Verifi.
From US Poker:
Travis Makar, a former business associate of Russ Hamilton, released tapes that implicate Hamilton and Greg Pierson, among others, in a cover-up of the UltimateBet insider cheating scandal. Pierson is the CEO and co-founder of Iovation.
A documentary on the UltimateBet insider cheating titled UltimateBeat connects Iovation co-founders directly to the scandal. Scott Bell, director and creator of UltimateBeat, published a detailed outline of the tapes leaked by Makar here. These tapes were used in the UltimateBeat film.