Payment Processor Ira Rubin Sentenced to 3 Years in Prison

(Image courtesy of justice.gov)

Less than a week after Absolute Poker payment processing head Brent Beckley received his sentence for his role, another of the Black Friday defendants was given his fate.

Ira Rubin, one of 11 people indicted on April 15, 2011 in connection with conspiracy charges related to illegal online gambling, bank fraud, and money laundering, was given a three year prison sentence Thursday after pleading guilty in January. Rubin has been in jail since April of 2011, a term of 15 months, and sentencing guidelines indicated that the term would likely be between 18 months and two years.

US District Judge Lewis Kaplan called Rubin an unreformed con-man, with Rubin having faced criminal charges in six states dating back to the 1970s. He’s also facing an $8 million Federal Trade Commission judgement and a $5 million forfeiture order, neither of which he is expected to pay quickly.

Judge Kaplan pointed to Rubin’s criminal history as an indicator that Rubin was an extremely high threat to commit crimes again and that society needed to be protected from his brazen and deliberate actions in defiance of U.S. law. Rubin claimed otherwise in a statement to the court.

“I know this is my last chance to have a productive life,” said Rubin to Kaplan. “I’m 54-year-old and I’m tired of running. I just want to go home to my family.”

Rubin’s role in the Black Friday charges stems from his deception of banks and credit card companies. He misled them by encoding transactions to make it look like money being moved around by FullTilt, PokerStars, and Absolute Poker was actually coming from sporting goods or other shell companies.

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Tim Fiorvanti

Tim Fiorvanti graduated from St. John's University with a B.S. in Journalism in 2008. After several years in the industry, he started working for BLUFF in the summer of 2010. He worked his way up at BLUFF and joined full time as a Senior Writer in April of 2012. Fiorvanti now serves as the Managing Editor of BLUFF. He's a tortured Mets and Jets fan, along with several other frustrating allegiances, but he's also a two-time defending BLUFF Fantasy Football Champion.
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