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New York City art gallery owner Helly Nahmad, as reported earlier in the week, has plead guilty to a single count of gambling in Federal court and will have to fork up $6.4 million in restitution. That won’t be very difficult as his family is worth approximately $3 billion.
Nahmad was one of 33 charged in a sweeping racketeering case involving a Russian-based online gambling venture.
Helly, who is represented by famed criminal defense attorney Ben Brafman, told the court: “Judge, this all started as a group of friends betting on sports events, but I recognize that I crossed the line, and I apologize to the court and my family.”
The gambling ring was reportedly financed by Alimzhan Tokhtakhounov, who is described by prosecutors as a “made member” of a Russian organized-crime gang known as the Taiwanchik-Trincher Organization.” The indictment alleges that Tokhtakhounov acted as a "protector" for the group.
In addition to the high stakes poker games, the group operated a massive sports betting ring out of the Ukraine and Russia with the indictment claiming that funds were laundered in the US via bank accounts located in Cyprus. Authorities also assert that the enterprises laundered $100 million from illegal gambling including poker games attended by celebrities and pro athletes.
Tokhtakhounov was alleged by prosecutors to have worked in conjunction with Nahmad.
The gallery owner is not likely to serve any jail time. He had initially been looking at up to 96 years prison time if convicted on all counts including conspiracy.
- Jagajeet Chiba, Gambling911.com
