Online poker payment processor admits to charges
So-called "payment processor" Bradley Franzen, 41, pled guilty in New York to criminal charges of conspiracy to commit bank fraud, conspiracy to commit money laundering and being part of operating an illegal gambling business. He faces a possible maximum prison term of 30 years.
Franzen was among 11 people whose indictment was announced by federal prosecutors in New York last month when authorities seized the Internet domain names for Absolute Poker, Full Tilt Poker and PokerStars.
Prosecutors accused the companies and the people they hired into tricking regulators and banks into illegally processing $3 billion in payments.
