Magazine publisher charged with money laundering, fraud

[The Buzz]

A U.S. magazine publisher has been charged with illegally distributing over $40 million in Internet gambling winnings through his company Payment Processing, Inc.

Don Hellinger is the publisher of Nylon, Inked, Surface and Tokion magazines. He has also been accused of running a telemarketing scheme during 2005 and 2006.

From Gambling 911:

While these charges are likely to raise eyebrows in the fashion and publishing communities, online gamblers will see zero impact as Hellinger's company has not conducted business in the past 5 years. Hellinger is said to have been a major processor for now defunct BetOnSports, once the largest online sportsbook catering to North American gamblers.

[JoeAdams]

That's the major reason why online gambling can't be legalized in some countries until present because of the probability of an increase of money laundering cases in there country..

[davenewgates]

The incident that's in question happened during 2005 and 2006, quite a long time and its only now that he has been charged. But good thing he is not doing gambling business anymore for it will affect in some ways the state of online gaming today.

[best.hands]

man, 91 years in prison if convicted of all crimes is a damn serious penalty. Hope this guy now understands this isn't worth $40 million.