Black Friday Payment Processor Pleads Guilty

This story was published more than 12 years ago.

A man who was accused of processing illegal transactions for the poker companies that were indicted on Black Friday has plead guilty to conspiracy.

Ira Rubin, who has been in jail since April, entered his plea in front of U.S. Magistrate Judge Gabriel Gorenstein. Originally charged with nine felony counts including conspiracy to commit bank and wire fraud, Rubin plead guilty to three counts.

Rubin, age 53 will face between 18 and 24 months in prison under federal sentencing guidelines.

The federal government claims that Rubin helped Absolute Poker, Full Tilt Poker, and PokerStars move billions of dollars through shell internet merchants. The fake online stores Rubin operated would then switch the funds to the player's poker accounts after conducting a transaction that could legally be completed by an American bank. Some of the fake store fronts included electronics and a fake golf store.