March 26, 2020

PokerStars founder Pleads Guilty To Unlawful Gambling Business

PokerStars founder Pleads Guilty To Unlawful Gambling Business

PokerStars founder Isai Scheinberg pleaded guilty to running a multi-million dollar illegal gambling business in a New York court.

Scheinberg pled guilty to operating an illegal gambling business, for which he would be sentenced with a maximum of five years in prison. Judge Lewis Kaplan will be in charge of deciding on the punishment, with the date of sentencing yet to be announced.

US Attorney for the Southern District of New York Geoffrey Berman, revealed that Scheinberg has been arrested in Switzerland on June 7, 2019, on US charges. The Swiss Federal Office immediately ordered his extradition to the US in October in the same year. Scheinberg was said to have appealed that decision.

But,  the PokerStars founder then revoked his appeal and submitted himself to federal agents on January 17 this year. He was arraigned before Judge Katharine Parker later on that day.

“Ten years ago, this office charged 11 defendants who operated, or provided fraudulent payment processing services to, three of the largest online poker companies then operating in the United States—PokerStars, Full Tilt Poker, and Absolute Poker—with operating illegal gambling businesses and other crimes,” Berman said.

“As Isai Scheinberg’s guilty plea today shows, the passage of time will not undermine this office’s commitment to holding accountable individuals who violate US law,” he added.

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