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Michael Olaf Schutt Gambling Eprocessor Bail Revoked

Hell hath no fury like a woman scorned?
Fears that her German husband may jump bail and abscond have prompted a Florida woman to ask to be relieved of responsibility for his bond, sending him back to jail this week.
Michael Olaf Schütt (28), a German national with an allegedly patchy criminal record who is accused of running an e-processing company involved in illegal internet gambling transactions has been helping federal authorities, but was returned to custody this week because his estranged wife feared he’d flee the country, reports the Naples Daily News.
28-year-old Jennifer Sherman married Schütt in January after knowing him for less than a year, and according to federal court records has now “indicated she was in fear, was afraid her husband was going to flee, and wished to be removed from the defendant’s bond."
Her nervousness is perhaps understandable; under the terms of the bond, Sherman would have to cough up $100 000 if her husband took flight before the allegations against him have been resolved.
A Fort Myers court was told by Assistant U.S. Attorney Yolande Viacava of Sherman's reservations and the failure of the marriage, leading to a request that Schütt be returned to detention.
Defence attorney James Felman conceded Schütt’s marriage has “suffered a fatal parting of the ways,” but asked that the German be allowed to remain free due to his “substantial and exemplary” assistance to federal investigators.
U.S. Magistrate Judge Sheri Polster Chappell ordered Schütt held in the Lee County jail, saying: “The defendant has no employment ties, no familiar ties, is not a U.S. citizen and sought information to obtain a pilot’s license.”
Schütt will face sentence on November 8, after pleading guilty in March this year to operating an unlicensed money transmitting business - a lesser charge than the original accusation of money laundering and a deal conditional on his cooperation with the authorities.
The Naples Daily News reports that Schütt was arrested in February after Florida bank employees became suspicious of the millions of dollars moving through his bank accounts, and customers were noted cashing checks they said were Internet Poker gambling winnings.
Federal agents seized $2.47 million from a number of bank accounts, $10,000 cash found in Schütt’s home, cars and jewelry.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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