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Former Full Tilt and PokerStars Exec Pleads Guilty
Burtnick was the former director of payment processing at Full Tilt and is among 11 people charged last April in a government crackdown since referred to as “Black Friday.”
The Wall Street Journal reported on Burtnick’s guilty plea which includes the full plea agreement signed September 14.
Prosecutors pointed out Burtnick funneled billions of dollars in payments from U.S. gamblers, disguised as payments to made-up online merchants for things like golf balls, flowers, jewelry, and other fun stuff. Burtnick faces up to five years in prison on each of the three charges. The first charge was allegation of money laundering, and the second two were in relation to “conspiracy to accept funds in connection with unlawful internet gambling”
“I knew what I did was wrong,” Burtnick said.
Pokernews reported on Burtnick’s initial not-guilty plea:
“In August, Burtnick surrendered to authorities upon arriving in New Jersey from his home in Dublin. At that time, he pleaded not guilty to all charges of money laundering and bank fraud in connection with the illegal activities conducted at Full Tilt Poker and was released on $500,000 bond.”
Burtnick is scheduled to be sentenced on December 19.