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Black Friday Processor Ira Rubin Sentenced to Three Years in Prison

According to Bloomberg, Ira Rubin, one of the 11 men indicted by the U.S. Department of Justice on Black Friday, was recently sentenced to three years in prison and ordered to forfeit $5 million.

Last January, Rubin pleaded guilty to conspiracy in connection with his alleged role as a payment processor for PokerStars, Full Tilt Poker and Absolute Poker. Rubin faced a maximum sentence of up to 55 years, but a plea agreement saw that lowered to 18 to 24 months.

“You are an unreformed conman and fraudster,” Judge Lewis Kaplan told Rubin in Manhattan on Thursday, according to Bloomberg. Kaplan added that Rubin's actions were a “brazen” defiance of U.S. law and that “a significant sentence is necessary to protect the community.”

Both the prosecution and defense had called for a sentence between 18 and 24 months, but Kaplan didn’t believe such a sentence would serve to discourage future crime. Rubin will receive a nine-month credit for time already served and could be released after 31 months if he exhibits good behavior.

Bloomberg also revealed that “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.”

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  • PokerBud PokerBud

    Percival - Ira has $5 mill to pay for that, plus an outstanding $8 mill and change from an FTC charge. Additionally, its believed his old "Co-workers" (if that's the right word) took the money. Ira is at Brooklyn MDC which is not a pretty place - it's more of just a holding facility for pretrial. From there he hopefully will be moved to another facility, but the judge stated he would NOT recommend a prison camp to the bureau of prisons.

  • flintsword flintsword

    Thank God the DOJ has stopped those evil villains who dare to play poker online. Who knows what other activities could occur, such as playing Canasta! (Gasp!) I am sure that real criminals distributing drugs, weapons, and into organized crime are breaking out the champagne while the DOJ is waging their Poker Prohibition in the U.S. and in fact the DOJ is also breaking out the champagne ... the DOJ has never seized so much cash for so little effort in its history.

  • Percival Percival

    This is pretty significant.

    With pending Black Friday cases and indictments against Howard Lederer, Chris Ferguson and so on, this punishment is somewhat of a 'setting of the bar', in which other, related punishments may be compared against.

    But $5 million?! C'mon, really?! Ira had to make close to $100 million or more. no community service, just a brief stay in one of America's finest, Country Club-like Federal Prisons, then on to live luxuriously for the rest of his life? The judge calls him an "unreformed conman and fraudster" - that's funny shit, and a harsh reality!!

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