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The charges were great with a potential to serve several years behind bars. Instead, online poker processor Douglas Rennick will serve a mere 6 months probation and forfeit a substantial sum of money after agreeing to assist in a U.S. government investigation. The sentence was handed down on Wednesday.
Michael Pancer, a lawyer for Rennick, said that his client agreed to forfeit $17.1 million.
Rennick was indicted just days after Gambling911.com parent company, Costigan Media, filed a suit to have information released by the US Attorney’s Office out of the Southern District of New York. The honorable Judge Laura Taylor Swain later ruled in favor of Gambling911.com, though required that certain names and entities still be redacted as part of an “ongoing investigation”.
Rennick processed for major online poker rooms including PokerStars and Full Tilt.
The sentencing follows news this week that another online poker payment processor, Australian Daniel Tzvetkoff, had been released on bail. He too agreed to cooperate with U.S authorities. Tzvetkoff had been captured in the States while attending a Las Vegas conference.
Also presumably tied into the investigation is a subpoena issued in recent days requiring a former Full Tilt Poker employee Jason “JDN” Newitt to appear before the US Attorney’s office this past Tuesday. It is not immediately known whether he appeared or what was discussed during any questioning.
Christopher Costigan, Gambling911.com Publisher
