A Vernon, B.C. man charged in a massive online gambling scheme pleaded guilty in New York Tuesday to illegally processing offshore bets by Americans.
Douglas Rennick, 35, was charged Aug. 5, 2009 with bank fraud, conspiracy to launder money and conspiracy to operate illegal gambling.
Authorities claimed Rennick transferred $350 million from a Cyprus bank account to various U.S. banks “in order to pay funds to gamblers” in the U.S. “as directed by various offshore Internet gambling companies.”
Rennick admitted in court that he transferred money from online gambling companies to gamblers in New York State. Among the websites was PokerStars. He forfeited $17.1 million and is free on $400,000 bail until his Sept. 15 sentencing.
