04/20/2011

http://www.gamblingonlinemagazine.com/gambling-news-detail.php?articleID=3385

The US authorities have arrested yet another online poker millionaire in the height of the recent internet poker furore that hit on ‘Black Friday’, which saw Absolute Poker, Full Tilt Poker and Pokerstars shut down for American gamblers while further investigations went underway.

41-year-old Brad Franzen from Illinois has been charged with money laundering for the three internet poker websites associated with the scandal, and was forced to fork out $200,000 in bail money after pleading not guilty to the offense. The millionaire still had to receive financial help from his parents in order to meet the bail money requirements.

Franzen was accused of bank fraud by deceiving banks into receiving money from illegal gambling, which he passed off as ‘innocent online purchases’ such as sports gear and jewellery. Federal investigations are still being carried out on the three associated websites, with officials still looking for the three unidentified founders. Federal investigators regard Franzen’s arrest as a breakthrough in the case, and await the capture of the other three responsible individuals in order to bring the guilty parties to justice without having dire effects for the online gambling community.