Absolute Poker co-owner pleads guilty in federal court

[The Buzz]

Absolute Poker co-owner Brent Beckley admitted in a New York City federal court that he broke U.S. laws against online gambling. He also pleaded guilty to a charge of conspiracy to commit bank fraud and wire fraud.

From Reuters:

Beckley told U.S. Magistrate Judge Ronald Ellis that at Absolute Poker between 2006 and April 2011 he accepted credit cards from players so they could bet on the Internet. He said he disguised the purpose of the payments.

"I knew it was illegal to deceive the banks in this way," Beckley told the judge.

The bank fraud charge carries a possible maximum prison sentence of 30 years, but under a plea agreement in the court record, Beckley will likely serve a term of between 12 months and 18 months.

[Anthony]

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