Legal
Payment Processors Plead Guilty
Eleven people involved with the PokerStars download, Full Tilt, and UB/AP have been accused of being part of an online gambling conspiracy in the United States. The charges include bank fraud, wire fraud, and money laundering. The eleven defendants include owners of the money poker sites and payment processors that served them.
Bradley Franzen, one of the people charged, has pleaded not guilty to a US magistrate in New York. Franzen, a payment processor, has been accused of creating fake businesses and sites for the purpose of obscuring the fact that payments were going to poker download sites. He is also accused of tricking banks about these transactions.
FBI agents saw Franzen surrender himself in New York yesterday. He was released on a $200k bond that was secured by the home of his parents. If he is found guilty of conspiracy to commit bank and wire fraud, he could be looking at 30 years in jail.
Also pleading guilty is Chad Elie, another payment processor for holdem poker download sites. Charged for bank/wire fraud and money laundering, he was arrested on the 15th in Las Vegas. He is also accused of masking poker transactions and tricking banks.
Elie was scheduled to get married on Saturday April 16th, so he was released to attend his wedding. He got married to model Destiny David on the weekend, and then gave himself up again on Tuesday. He has since been released on a $250k bond. For as long as his trial is pending, he has strict travel restrictions and will be unable to go outside New York, Nevada, or Washington DC.
US residents should avoid playing online poker until further notice. If you do not live in the US, feel free to continue play on PokerStars at your discretion. Those looking for something new to try can get the William Hill poker download. All non-Americans are welcome, and they have a healthy deposit bonus up for grabs. Good luck!