Man at center of poker funds seizure held in contempt of court

Posted by Steve Ruddock on Feb 04, 2010 Posted in Legal Poker News | No Comments »

In 2009 poker players were shocked to find their withdrawals from numerous poker sites bouncing and being rejected. It turned out the federal government decided to seize over $30 million of cash-outs that were processed through Account Services payment processor. The seizure caused the biggest uproar in online poker history, and had many players confused and nervous about the future of online poker in the United States.

The man heading up the payment processor, Douglas Rennick, has been brought into court on three separate charges and was held in contempt of court when he refused to comply with the subpoena. Rennick’s lawyer stated this is a violation of his client’s right to plead the Fifth Amendment.

Rennick is looking at up to 30 years in prison and hefty fines for violating the UIGEA legislation. The three charges he faces are conspiracy to operate an illegal gambling company; conspiracy to engage in money laundering; and conspiracy to commit bank fraud.

Play Online Poker
Play Online Poker

Tags: , , ,



Leave a Reply

Promotional News

PokerStars Rebrands Turbo Championship Of Online Poker (TCOOP) Into 2018 Turbo Series
PokerStars, the biggest online poker website in the world has hosted i …
Read more

Global Poker Launches Grizzly Games Online Tournament With $1.5 Million In Virtual Cash
Global Poker launched its Global Poker Championships in 2017 with the …
Read more

Poker Players Will Have An Opportunity To Win 19 PSPC Platinum Passes In January
The PokerStars Players No Limit Hold’Em Championship (PSPC) was …
Read more

World Poker Fund Holdings Announces $50 Million Initial Coin Offering IN 2018
The World Poker Fund Holdings Inc (WPFH), a gaming development company …
Read more