We had blogged earlier about the seizure of the bank accounts and the domains of Pokerstars, Full Tilt, and Absolute Poker. According to a report published today, Bradley Franzen, a resident of Illinois and Costa Rica, pled guilty in a New York District Court to the charges of assisting the poker sites in tricking banks and financial institutions into illegally processing US$3bn in payments originating from online gambling.
It is understood that Franzen is ready to testify at any prosecution against Pokerstars, Full Tilt or Absolute Poker. In return he expects leniency at his sentencing, which in the worst case can go up to 30 years jail.
In the meantime, the DoJ is reported to have seized 11 bank accounts and domain names associated with 10 more internet gambling sites.
I hope the governments compromises and work together with the online poker industry. The revenues they could exact from the industry is nothing short of massive.
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