Online poker "payment processor" admits fraud

[$5 submissions]

Source: http://news.yahoo.com/s/nm/20110523/...ker_fraud_plea

An Illinois man admitted in federal court on Monday to helping large online poker websites dodge U.S. gambling laws by processing millions of dollars in payments from his home in Costa Rica and lying to banks about the nature of the transactions.

So-called "payment processor" Bradley Franzen, 41, pled guilty in New York to criminal charges of conspiracy to commit bank fraud, conspiracy to commit money laundering and being part of operating an illegal gambling business. He faces a possible maximum prison term of 30 years.

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[V_RocKs]

I'll launder your money!

I will require millions and I won't be coming back to the US until the statute of limitations runs out... Would be an adventure.

[pamon]

just legalize poker and tax it and move on already. same with marijuana. such a joke... but vegas and AC and indian casino's can profit from it?

[GirlieCash]

Damn online poker... where do I get my refund

[Deej]

IS this the world online entertainment scam?

[adultmobile]

In Europe the gambling it is legalized, at various levels. The state take a good % in tax (altough gambling companies may try to cheat state, it happened in Italy at least), and, the state give licenses so shady companies based in islands, owned by politicians + mafia guys together, those who previously managed the illegal betting and poker rooms in the various cities. If course if you legalize something that it managed illegally by some crime organizations, you can't have totally new clean people to start and take over this biz in one day... it will be who run illegal before, to become legal (somewhat, will still look godfather or pulp fiction guys) by going in bed with politicians to get a license from the state, in exchange of bribe or shareholding from same politicians.
Probably after several years those online licensed betting and poker and slot machine companies will become less shady, it is just matter of start legalize and license, and wait the replacement of management and shareholding with less shady people in the following years, until in let's say 20 years it may become a nearly normal biz and companies, like those who produce shoes or beer.
Europe started first, USA may follow with 10 or 20 years delay, unless world war's or Jesus appear in TV saying that betting it is a sin.

[seeandsee]

they doing shit and visiting america, jez

[Barry-xlovecam]

Originally Posted by V_RocKs

I'll launder your money!

I will require millions and I won't be coming back to the US until the statute of limitations runs out... Would be an adventure.

The statute of limitations is suspended for the time you are out of the Court's jurisdiction ...

Originally Posted by pamon

just legalize poker and tax it and move on already. same with marijuana. such a joke... but vegas and AC and indian casino's can profit from it?

I guess for reason that they cannot regulate it and take bribes </sarcasm>