Black Friday Sentencing Continues, Rubin Gets Three Years
- 08/09/2012By Debra SaundersGoogleIra Rubin, one of the eleven men accused by the US government in the Black Friday indictment, was sentenced to three years in prison this week for his role as a payment processor. Presiding Judge Lewis Kaplan also ruled that Rubin must relinquish five million dollars in fines.
During sentencing Judge Kaplan commented to Rubin, “You are an unreformed conman and fraudster.” The Judge called Rubin’s involvement a “brazen” defiance of United States law. He concluded, “A significant sentence is necessary to protect the community.”
Earlier in 2012, Rubin submitted a guilty plea for processing billions in poker profits from some of the best online casinos, including PokerStars, Absolute Poker and Full Tilt Poker.
Initially, US Prosecutors and Rubin’s lawyers discussed an 18-24 month jail sentence, however, Judge Lewis Kaplan overruled this as he stated that the crime deserved a harsher punishment. Judge Kaplan softened this by expressing his belief that Rubin would receive credit for nine months already spent in jail and the possibility of release after 31 months.
Under the terms of the sentence, once Rubin is released, he will be prohibited from seeking employment in any position that relates to the handling of money or profits.
Earlier in the month, others involved in the Black Friday case also received sentences, including Absolute Poker’s Brent Beckley.