Posted 1/22/11 : Money laundering charge has its roots in online poker payments
Another e-cash processor appeared in a Baltimore, Maryland court this week, pleading guilty to a single count of money laundering.
Californian Martin Loftus, emulating other processors caught up in federal enforcement actions aimed at stopping the payment of winnings to US players by offshore online poker operators, agreed to assist and cooperate with New York and Maryland federal investigators as part of his plea deal.
The charges identify payments from Full Tilt, with Loftus admitting that he helped to facilitate payments to US players through a Swiss bank and to the value of $1.5 million.
Earlier this year Michael Garone, also an e-cash payment processor, was sentenced to a year's probation after being apprehended in 2008 and collaborating with investigators In his case the disruption of payments involved