1/17/2012 : ONLINE GAMBLING PAYMENT PROCESSOR PLEADS GUILTY
Ira Rubin the latest financial middleman to admit to wrongdoing
Ira Rubin, who was accused of helping process payments for online gambling businesses indicted on Black Friday, pleaded guilty to conspiracy in a Manhattan federal court Tuesday, reports the Bloomberg news service.
Rubin, has been imprisoned since April and appeared before the court in prison garb to enter his plea with U.S. Magistrate Judge Gabriel Gorenstein. According to his plea agreement, Rubin (53) faces a prison term of 18 to 24 months under federal sentencing guidelines.
Rubin was accused of helping process payments for PokerStars, Full Tilt Poker and Absolute Poker, online poker sites doing business with U.S. customers. Charged with nine counts, including conspiracy to commit bank and wire fraud, he pleaded guilty to three.
Prosecutors said Rubin worked from Costa Rica helping offshore poker companies move “billions of dollars in illegal gambling proceeds” disguised as phony Internet merchants. The shell companies Rubin created included a fake golf store and electronics business, prosecutors said.
The case is U.S. v. Rubin, 10-CR-336, U.S. District Court, Southern District of New York (Manhattan).