Payment processor jailed

Payment processor jailed

Thursday, 4 October 2012

Payment processor Chad Elie, one of the 11 men charged by US authorities in relation to the Black Friday indictments, has been given a five-month jail sentence for his involvement in the affair.

The 32-year-old pleaded guilty to a bank fraud charge at a trial in March, admitting that he helped PokerStars, Full Tilt and Absolute Poker process millions of dollars of illegal online gambling transactions between 2008 and 2011.

According to Bloomberg, US District Judge Lewis Kaplan rejected a recommendation by the federal Probation Department that Elie be sentenced to probation, six months of home confinement and community service, saying that only a prison sentence would provide a sufficient deterrent.

"This entire case reflects a situation in which there was ... a criminally reckless spitting in the eye of the government," said Kaplan, who also ordered Elie to forfeit $500,000.

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Tags: Chad Elie, Black Friday