Online Casino Style - News:
While one e-processor managed to get out
of jail this week in the US, one Canadian was just as fortunate, with
Douglas Rennick receiving his punishment by the US District Court for his
involvement in the illegal processing of online gambling transactions for
US players. The 35-year old was given a six month probation period,
contingent upon the payment of $17.1 fine to the federal government for
his crimes, a clear indicator that the US government is by far more
concerned with their own bottom line than criminally punishing those who
violate the Unlawful Internet Gambling Enforcement Act of 2006.
Judge Sidney Stein handed over the sentence, in relation to the charges set against Rennick, for which he plead guilty to in May. He was accused of money laundering, charges related to his actions for processing deals for online casinos Full Tilt Poker and Poker Stars. Though he put forth his plea in the spring, the court had suspended sentencing, giving time for negotiation on the financial front of the case.
Most online gambling analysts are paying particularly close attention to the light sentence, as the charges of money laundering the US can potentially carry heavy jail time. Rennick was arrested in August of 2009, in relation to accusation that he had processed as much as $350 million for online gambling firms over a period of two years. He additionally allegedly provided false and misleading information to US banks to hide the transactions, as the UIGEA can block any that seem to be related to internet casinos.
Before issuing his ruling, Judge Stein asked Rennick to describe the crimes that he had plead guilty to. His reponse: “I had a business that transferred money from offshore gaming sites to American players within the Southern District of New York.” He could have potentially seen up to 55 years in prison, and charged millions in fines.
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