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Why is everyone so quick to believe this guy is guilty of bank fraud? First off there is no way you can process 500 million in checks and not know what they are for. You'd think after the first 100 million the bank might do a more detailed due diligence if a only a general business description was given in the beginning? The wires also were coming in by the millions from Cyprus (a know online gambling haven). What else could the bank possibly think those checks were for? Also when it comes to fraud there has to be a harm. In this case the banks likely made millions in fees. Uh, how were they hurt? In turn the banks would have paid hundreds in thousands in taxes to the government. Uh, how was the government hurt? Also fraud requires a proper due diligence in order for you to be a victim. Given the large volume and the fact this went on for years, the banks obviously did zero due diligence if they truly had no idea what the checks really were for (which is IMPOSSIBLE that did not know). This fraud charge is a distraction because the SDNY is petrified to take on a poker case. They trumped up these charges and brilliantly spun it in the press. Anybody who has judged this person without thinking about everything I just wrote should be ashamed. All he did was put money back into the hands of American citizens who essentially were playing a video game in the comforts of their homes. Should someone doing that go to jail? The banks were all in on it and are now playing dumb to cover their own hides. They should also be ashamed.