Online Poker Processor Pleads Guilty

Written by:
C Costigan
Published on:

Brad Franzen, the owner of a payment processor that worked in conjunction with three online poker rooms indicted April 15, has plead guilty on Monday. 

From the New York Post:

Franzen said he was recruited to help solve an "urgent problem" being experienced by Full Tilt Poker, which was unable to pull money out of gamblers' bank accounts so they could place bets at its site.

He said the situation had caused a "major shortfall" for the offshore company.

Franzen, 41, admitted perpetrating the fraud "mostly in my residence in Costa Rica."

During questioning by Manhattan federal Magistrate Judge Kevin Fox, he said that while he didn't know exactly how much money was involved, "I do understand in general terms that it was millions of dollars."

Franzen faces up to 30 years in the slammer for conspiracy to commit bank fraud and money laundering, as well as accepting funds in connection with illegal Internet gambling.

The owners of all three online poker rooms remain on the lam.

- Christopher Costigan, Publisher

Poker News

Red Dead Online Poker Review - Access Issues

If any company is going to make a run at competing with the big name real money online poker sites like PokerStars, Americas Cardroom or 888, it would be an established gaming site the likes of Rock Star Games.  They recently incorporated poker into their Red Dead Online title, but - SURPRISE - most people can't play for real money.

Poker's Royal Wedding

Poker's Royal Wedding

Daniel Negreanu tied the knot with long time girlfriend Amanda Leatherman and the poker community celebrated along side them.

Daniel Negreanu Amanda Leatherman Marry

Daniel Negreanu Amanda Leatherman Marry

If there is such a thing as a poker royal wedding, this would be it.  Daniel Negrean and long time girlfriend Amanda Leatherman have tied the knot.

Evil Poker Players 2: Shawn Sheikhan, Poker Pervert

Evil Poker Players 2: Shawn Sheikhan, Poker Pervert

(Originally Published 9/15/15) With the death of Thomas "Amarillo Slim" Preston Jr.

Where Can I Play Online Poker From California?

There just a few online poker sites accessible to those living in the state of California.