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Two More Companies Indicted as Payment Processor Pleads Guilty

Law, 2011-05-23, by Ozone

The Southern District of New York scored their first official victory in the April 15th indictments today when payment processor Bradley Franzen pleaded guilty to criminal charges of conspiracy to commit bank fraud, conspiracy to commit money laundering and being part of operating an illegal gambling business. Franzen faces up to 20 years in prison.

Franzen was one of the 11 men indicted by the DOJ last month. Asked in court how much money was involved in his payment processing activities, Franzen said, "I do understand in general terms that it was millions of dollars, but I don't know how much."

Eight of the 11 men charged on April 15th remain at large outside of the United States.

Two new indictments were unsealed today against two businesses and three people on charges of operating an illegal gambling business and money laundering. Ten internet domains were seized as part of the case including DoylesRoom.com and TruePoker.com. Eleven bank accounts were also seized as part of the case.

TruePoker.com resides on the Yatahay Network which PokerScout.com lists as the 33rd largest poker room with an average real-money player base of 220 players.

Doyle Brunson, in what now seems like a timely move, recently disassociated with DoylesRoom.com. That site is also on the Yatahay Network.

Here is a list of the other 8 domains that were seized:

Bookmaker.com
Beted.com
Betehorse.com
Betgrandesports.com
Goldbnarchcasino.com
Funtimebingo.com
2Betdsi.com

Update: It has now come to light that the U.S. government set up a payment processing company called Linwood Payment Solutions in an effort to identify online gambling operators. They processed millions of dollars worth of transactions over a span of two years including payments for Absolute Poker and UB.

Related Links

Government Press Release

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