Black Friday payment processor pleads guilty

Black Friday payment processor pleads guilty

Tuesday, 27 March 2012

Payment processor Chad Elie, one of the 11 men charged by US authorities in relation to the Black Friday indictments, has agreed a plea bargain with the US Attorney's Office.

The 32-year-old yesterday pleaded guilty to one count of conspiracy to commit bank fraud. When asked by presiding Judge Lewis Kaplan, “You are pleading guilty because you are guilty?” Elie replied, “Yes, your honor. I know that my conduct was wrong.”

Elie, who has agreed to forfeit $500,000 as part of the agreement, faces between six and 12 months in prison. Sentencing will be set on 3rd October.

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Tags: Chad Elie, Black Friday,