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

Posted by Steve Ruddock on Feb 04, 2010 Posted in 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.

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