Poker news tagged with 'ira rubin'

In January, Ira Rubin pleaded guilty to conspiracy in connection with his role as payment processor for PokerStars, Full Tilt Poker and Absolute Poker. He faced a maximum penalty of 55 years, but since he pleaded guilty many expected him to get away with a much lighter sentence. And so he did...

According to Bloomberg, Ira Rubin was recently sentenced to three year in prison and order to forfeit $5,000,000. Bloomberg also revealed that Rubin cannot participate in any business occupation related to payment processing or financial services once he's out of prison.

Ira Rubin, a 53-year-old businessman in financial transactions, has in an agreement with a court in New York pleaded quilty to several crimes related to Black Friday (the day when FBI and DOJ closed down Full Tilt Poker, PokerStars etc).

According to the Department of Justice (DOJ), Rubin has deceived banks into transferring gaming funds so it wouldn't look like the money came from gambling. The potential max penalty for Rubin's crimes is 80 years in prison. But since he had some kind of agreement with the court, experts believe that he will get less than 2 years.