Ira Rubin Pleads Guilty to Three Black Friday Charges

Less than a month after Absolute Poker co-founder Brent Beckley pleaded guilty to several charges leveled against him in the April 15th indictment from the Department of Justice, another man named in the indictment has agreed to a plea bargain.

Payment processor Ira Rubin pleaded guilty to three charges in a Manhattan federal court today. Rubin was initially charged with nine counts ranging from conspiracy to commit bank fraud to violation of the Unlawful Internet Gambling Enforcement Act (UIGEA).  Rubin was apprehended in Guatemala less than a week after the initial indictment.  In June, a Manhattan court denied Rubin bail, claiming he was a flight risk.  At that time, it appeared as though Rubin was keen to fight the charges, but appears to have had a change of heart.

Business Week reports that the plea bargain should result in anywhere from 18 to 24 months of prison time for the payment processor.  Had he been convicted of all nine charges leveled against him, he could have faced up to an 80 year sentence.  Beckley received a similar sentence of 12-18 months.  Bradley Franzen, the first payment processor to plead guilty to Black Friday charges, has yet to be sentenced, despite entering a plea back in May.  SunFirst Bank Owner John Campo and payment processor Chad Elie plead not guilty to the Black Friday charges leveled against them.

Rubin had been living in Costa Rica since 2008, after the Federal Trade Commission imposed an $8.6 million judgment against Rubin after he allegedly helped telemarketing scams defraud millions of dollars from US customers.  Rubin failed to appear in court regarding the judgment, and fled the States.  In addition to the fine, Rubin was ordered to no longer participate in any sort of payment processing. Rubin has yet to  pay any of the FTC judgment.

Rubin is scheduled to be sentenced in regards to the three Black Friday charges on May 17th.

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