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Another man accused in Black Friday case avoids prison

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Garfed   Malta. Dec 05 2016 16:30. Posts 4818

Another former employee of PokerStars has avoided prison, but was ordered to forfeit $119,000, indicted on 2011 Black Friday that shut down the American businesses of what were once the world’s largest poker websites.

According to a report from Reuters Agency out of New York City, Paul Tate, who once processed payments for PokerStars, was facing up to 5 years in prison. However, the judge went easy on him for finally returning to the U.S.A. from the Isle of Man to face the charges.

“Given that you couldn’t be extradited for this, you deserve a world of credit for coming to face the music,” the judge reportedly said at a court hearing last Monday.

Tate was with PokerStars until the company was bought by Amaya Gaming in year 2014. PokerStars itself settled with the US government for more than $700 million and didn’t admit to any wrongdoing. Since then, PokerStars has grown its global market share to more or less 70 percent.

Tate’s guilty plea in October left just Isai Scheinberg, PokerStars’ founder, with some pending charges. Nine others pleaded guilty in connection to the case, which also ensnared Full Tilt Poker and Absolute Poker. A total of 11 people were criminally charged.

Howard Lederer and Chris Ferguson had civil cases with the government, and both have been finished by now. Ray Bitar was the one Full Tilt owner charged criminally, and he also avoided prison time.

Within a year after Black Friday, as many as six of the men had pleaded guilty.

Australian businessman Daniel Tzvetkoff, the man who assisted the feds in crafting the Black Friday indictments, didn’t receive any prison time for his role as a payment processor.

While some were able to avoid prison, others, thankfully, were not so lucky. Chad Elie, also involved with online gaming payment processing, received five months in prison for conspiracy to commit bank frauds. Former Utah banker John Campos received three months; Absolute Poker’s Brent Beckley got 14 months; and Ira Rubin received 3 years.

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