Black Friday Payment Processor Goes To Jail

This story was published more than 11 years ago.

One of the payment processors named in the Black Friday indictments was sentenced to five months in jail and ordered to forfeit $500,000 in cash.

Chad Elie had previously plead guilty to his crimes associated with the indictments, but played a game of "catch me if you can" with the US goverment. His sentence was handed down by US District Judge Lewis A. Kaplan, who said that "This entire case reflects a situation in which there was ... a criminally reckless spitting in the eye of the government."

After he gets out of jail, Elie will be required to serve two years of probation. Government prosecutors had previously struck a plea deal with Elie, and recommended a sentence of six months home confinement, community service, and probation, although it appears that the game of chicken with the government made Judge Kaplan determine that sentence was too light.

Speaking to the court Elie apologized for his actions, saying: "I'm very sorry and regret my actions."

The judge, however, did not seem to buy the apology in all aspects, responding by saying: "Claims of remorse I in some respects credit, but not all."

The next defendant to be sentenced in the Black Friday case is former Full Tilt Poker payment executive Nelson Burtnick, who also plead guilty to conspiracy and gambling charges earlier this year. Burtnick's sentencing is set for December 19th.