Tuesday, May 1,2012 : ONLINE POKER PAYMENT PROCESSOR TO BE SENTENCED OCTOBER 3 (Update)
 
Elie pleads guilty to conspiring to commit bank fraud and operating an illegal gambling business
 
ESPN reports that Chad Elie, a payment processor implicated in the Black Friday indictments against individuals and three major online poker sites in the United States, pleaded guilty in a US court Monday to conspiring to commit bank fraud and operating an illegal gambling business.
 
Originally scheduled to go on trial on April 9, Elie instead elected to enter a guilty plea, and faces between six months to a year in prison. He is scheduled to be sentenced on October 3.