Ira Rubin, the man who was caught illegally processing payments.for US-based poker players to deposit and withdrawal onto poker sites, has pleaded guilty to three charges of bank and wire fraud, money laundering and gambling offences due to UIGEA violations, according to EGR Magazine.
This is not the first time Rubin has been charged with these offences. Rubin was also prosecuted back in 1995 for wire fraud offence. He was sentenced to 37 months previously, along with a four year sentence to run alongside the charge above, for a separate felony of fraud. The recent Black Friday offences, however, can mean a sentence for up to fifty-five years in jail.
On top of the jail sentence, Rubin has also agreed to forfeit any amount, direct or indirect, of proceeds that came about by that charged with bank and wire fraud, as well as any funds or property that was acquired by profit from that which is charged of money laundering.
Rubin is now the second man to have pleaded guilty and to be charged of these offences, with Absolute Poker's Brent Beckley pleading guilty to conspiracy charges in December last year.
iGaming Business gives further information on the indictment filed on Rubin, claiming that Rubin had fled to Central America, and was residing in Costa Rica while processing billions of dollars in payments for poker sites Full Tilt, Pokerstars and Absolute Poker. Two weeks after Black Friday, he was arrested in Guatemala, but not before attempting to flee to Thailand. He was charged with nine counts of similar offences to those above, but apparently a plea bargain has been signed to only the above three, in an attempt to reduce the sentence.
Other criminal indictments include Full Tilt Poker's Ray Bitar, Absolute Poker's Scott Tom,. and Pokerstar's Isai Scheinberg.