Man Responsible For Processing $350 Million Illegally From PokerStars, Full Tilt, Sentenced
September 20th, 2010-  By Bryan Cross

The man found responsible for having illegally processed nearly $350 million in transactions on online poker sites PokerStars and Full Tilt Poker for two years from 2007 to 2009 was sentenced to the minimum six months probation by a New York Federal Court.

Douglas Rennick, is the infamous Canadian processor, who could have received 55 years behind federal bars had he been given the maximum sentence, but got off with just probation.

Rennick admitted his guilt earlier in the process.

“I had a business that transferred money from offshore gaming sites to American players within the Southern District of New York,” he said.

While the sentence may come across as soft, as part of a potential plea bargain, Rennick agreed to surrender $17.1 million of his assets to the Federal Government, which likely helped the sentence get reduced.

Additionally, it is believed that Rennick has helped investigators learn more about cheating and processing illegal funds online through Internet poker in the United States.

This is one of two cases in the news of processing illegal funds, as Daniel Tzvetkoff is alleged to have laundered $550 million and has reportedly begun to cooperate with law enforcement as well.

FBI Agent  Harold Copus said that Tzvetkoff has “turned the corner, seen the light and is co-operating.”

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