Black Friday Defendant Sentenced to 3 Years in Prison 05.08.2012

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Ira Rubin, 54, was sentenced to 3 years in prison in New York by US District Judge Lewis Kaplan. Back in January, Rubin plead guilty to three counts: conspiracy to commit bank and wire fraud, conspiracy to violate the UIGEA and money laundering. All of these charges stem from his involvement of processing illegal payments for three internet poker companies: PokerStars, Absolute Poker and Full Tilt Poker. According to the US government, Rubin duped banks into believing they were processing financial transaction for golf stores and other legal businesses when in actuality the money was revenue from the illegally operating poker companies.

Judge Kaplan called Rubin an “unreformed con man and fraudster” as well as an “extremely high threat” since this is not Rubin’s first tangle with the law. Previously, Rubin faced criminal charges in the 1970’s for telemarketing fraud in Florida, New York, Nevada, Virginia, Missouri and Massachusetts.

Because of his past actions and the fact that the judge was not convinced Rubin would stop his illegal schemes, he was sentenced to 3 years instead of 18 months to two years as the Federal Sentencing Guidelines call for. Rubin’s sentence is one of the longest prison terms yet to be handed down for eleven men involved in the operations of the poker sites and indicted under the Black Friday case.

At the trial Rubin said: “I’m 54 years old and I’m tired of running.” Rubin could be heard sobbing during parts of the sentencing.

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