Black Friday Case Concluded – Poker Stars

According to Bloomberg, Ira Rubin, one of the 11 individuals indicted by the U.S. Department of Justice on Black Friday, was recently sentenced to three years in prison and a fine of $5 million.

Last January, Rubin pleaded guilty to conspiracy in relation to his alleged role in payment processing for PokerStars, Full Tilt Poker, and Absolute Poker. Rubin faced a maximum sentence of up to 55 years, but a plea agreement reduced this to 18-24 months.

"You are an unreformed trickster and swindler," said Judge Lewis Kaplan to Rubin in Manhattan on Thursday, as reported by Bloomberg. Kaplan added that Rubin's actions were a "brazen" defiance of U.S. law and that "a significant sentence was necessary to protect the community."

Both the prosecution and defense called for sentences between 18 and 24 months, but Kaplan did not believe such a sentence would serve to deter future crime. Rubin will receive nine months' credit for time already served and could be released after 31 months if he exhibits good behavior.

Bloomberg also reveals that "once out of prison, one of the conditions of Rubin’s release will be that he cannot participate in any business related to payment processing or any form of financial service.