Black Friday Payment Processor Ira Rubin Sentenced

Bloomberg reported recently that Ira Rubin, one of the 11 men indicted by the US Department of Justice on Black Friday, has received a three year prison sentence. Rubin was also ordered to forfeit $5 million he made by illegally processing payments for online poker rooms PokerStars, Full Tilt Poker, and Absolute Poker on behalf of their U.S. customers.
In January, Rubin pleaded guilty to two conspiracy charges to commit wire and bank fraud and for participating in money laundering. The plea agreement allowed Rubin to avoid what could have been an 80-year prison sentence if he were convicted in a trial.
It was thought that Rubin’s plea deal would result in no longer than a two year prison sentence. U.S. District Judge Lewis Kaplan handed Rubin a three year sentence. Said Kaplan to Rubin upon sentencing, “You are an unreformed conman and fraudster, a significant sentence is necessary to protect the community.”
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Rubin, U.S. citizen, had been living in exile in Costa Rica since 2008 after fleeing the U.S. due to a telemarketing credit card scam. He fled the U.S. by skipping out on bail following his arrest for the telemarketing scam. He was arrested last year in Guatemala while attempting to board a connecting flight to Thailand.
The 54 year old Rubin will serve the longest sentence thus far handed out to any Black Friday defendant. In their war on gambling, the U.S. has made a plea agreement with six of the eleven defendants thus far. Ray Bitar is awaiting his first hearing after turning himself in earlier this month. Four other defendants remain at large including PokerStars founder Isai Scheinberg.
Rubin will be disallowed from participating in any business occupation related to financial services or payment processing upon his release.