Forbes.com reported last week that over the course of the last 7 months The United States Government has seized over 24 Million USD in funds that are believed to belong to Bodog’s US based operations.

The money was seized from bank accounts in the US said to be part of the US based operations for Bodog. Court documents list the seizures as have started happening in January 2008 and continuing throughout the course of this year. In January and February US Officials seized over $14 million from accounts at Wachovia, Regions Bank, Bank of America, and Sun Trust Bank. The accounts were listed as having belonged to JBL Services and Transaction Solutions.

The process for holding and confiscating the funds requires Federal Officials to file a civil suit and then wait for a predetermined waiting period. Leaving any entity the opportunity to come forward and challenge the seizure and make a claim to the funds. The funds that were confiscated in January and February have had that time frame elapse.

The most recent seizure came after Federal Officials caught a break when one of their undercover staff members got a pay out check from Bodog was honored. Thus establishing a link between Bodog and the account at Nevada State Bank. This link led to a seizure of just shy $10,000,000 USD.

The Canadian. Calvin Ayre who is the founder of Bodog remains at the center of a large investigation which is believed to carry secret indictments against him. Calvin Ayre is said to have relinquished all control of Bodog earlier this year, yet is still wanted on a number of gaming issues. Calvin Ayre is believed to still be in the Caribbean “hiding out” from US officials.

Bodog released a statement in which it stated, that the seizures were that of third party companies and not Bodog’s brand. They also mentioned that regardless of these seizures no person failed to receive the funds they were owed. They state that the third party companies are aware of the legal situation in United States and that is a part of doing business. They also stated that much of the article’s interpretations are out of context and inaccurate and that all parties involved are fully aware of the situation and all its implications.

We will continue to watch this closely and see if it has any impact on the way Bodog continues to operate in the United States, as it is a major source of United States Online Gaming due to the unlawful internet gaming act.