Bloomberg News

Online-Poker Defendant Rubin Gets Three Year Sentence

July 26, 2012

Ira Rubin, accused of helping process billions of dollars in payments for illegal online gambling businesses, was sentenced to three years in prison and ordered to forfeit $5 million.

Rubin, who pleaded guilty in January, was accused by federal prosecutors in New York of illegally processing payments for PokerStars, Full Tilt Poker and Absolute Poker, the leading online poker sites doing business with U.S. customers.

The government and Rubin’s defense attorney had recommended a sentence between 18 and 24 months, as specified in federal guidelines, which are advisory. U.S. District Judge Lewis Kaplan in Manhattan today said such a sentence wouldn’t serve to discourage future crime.

“You are an unreformed conman and fraudster,” Kaplan told Rubin, calling his actions a “brazen” defiance of U.S. law. “A significant sentence is necessary to protect the community.”

Kaplan explained that he assumed Rubin would receive credit for the nine months he has already spent in jail, and could be released after only 31 months if he maintains good behavior.

Once he is out of prison, one of the conditions of Rubin’s release will be that he cannot participate in any business occupation related to payment processing or financial services, Kaplan said.

The case was U.S. v. Rubin, 10-CR-336, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Emily Grannis in New York federal court at egrannis@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net


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