Elie and Campos plead gulity, AGCC review on FTP

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    • #25165

      John Campos and Chad Elie pleaded guilty

      Brent Beckley and Ira Rubin and Ryan Lang pleaded guilty earlier this week and now John Campos and Chad Elie also submitted plead on their guilt. 11 individuals were charged for bank fraud, money laundering, and violating gambling laws in the Black Friday incident.

      Campos and Elie’s names have been closely related since Black Friday because they have taken a number of legal actions together.They had filed motions for dismissal from the case in September and recently they requested the court to provide them the evidences that should and should not be acceptable for use in their trials.

      On the 26th of March 2012 (Monday), Chad Elie pleaded guilty to one count of conspiracy and admitted to Judge Lewis Kaplan that he knew his conduct was wrong. Elie is scheduled to be sentenced on October 3rd. He has agreed to forfeit $500,000 that he earned while acting as a payment processor, and he faces a maximum of 5 years in prison. Elie is likely to receive imprisonment between 6 and 12 months.

      One day after Chad Elie’s plead on his guilt his fellow payment processor John Campos has pleaded guilty to his transgression charge. These two have taken matching lawful paths since they were indicted by the United States on April 15th, 2011.

      Campos allegedly accepted significant payments for allowing offshore poker companies to conduct illegal transactions with Americans through his bank. Though specific details of the plea are not yet available, the fact that Campos is only pleading guilty to a transgression charge means that he is likely to receive a light sentence relative to the other 4 payment processors who have also pleaded guilty.

      AGCC’s review on FTP

      Alderney Gambling Control Commission(AGCC) posted a 12 paged document as a review on their website that statesthat” AGCC fulfilled its statutory obligations in relation to FTP and that its actions were appropriate, timely and fair”. This document covers FTP’s imaginative licensing processes with the AGCC and the AGCC’s decision to revoke FTP’s license as well as their actions on the outcome of Black Friday.

      Peter Dean said in the report” Alderney’s regulatory system for gambling is comparable to those prevailing in other well regarded jurisdictions, and AGCC is respected round the world as a regulator demanding high standards of probity from its licensees. Deplorable as the episode covered in this review has been, it is nevertheless an example of regulation working as it should. As soon as plausible evidence of irregularities came to light the regulator acted promptly and proportionately. An investigation was instituted, findings made, a hearing held, judgment delivered and sanctions imposed. Due process was followed”.

      He also said “This assessment will be of little comfort to the disaffected players who are still denied access to funds owed to them by FTP. The tribunal proceedings in 2011 were adjourned for several weeks to allow time for a rescue package to be negotiated. When this failed, the Commissioners then properly decided that because of the seriousness of the allegations they should discharge their statutory duties without further delay”.

      “The AGCC Commissioners, Executive Director and senior staff are clearly determined to make improvements as a result of lessons learned from this episode. I hope my review will help in the process”.

      In a separate press release, André Wilsenach, the executive director of the AGCC, welcomed the report and said that they will consider its “valuable recommendations on how we can make improvements in the light of what has happened”.

      “We wanted to reassure ourselves and those who take an interest in our activities that should mistakes have been made then we would recognize them and if lessons could be learned that we would learn them.” He also presented his “great sympathy” to players with funds on FTP.

    • #32024

      U.S. District Judge postpones the acceptance of plea by John Campos

      On 29th March 2012, Washington Post has reported that U.S. District Judge Lewis A. Kaplan has refused to straight away accept a guilty plea from a Utah banker John Campos. He has also ordered “prosecutors to explain in writing why they let former St. George banker John Campos plead guilty to a misdemeanor bank gambling charge rather than a felony, averting a trial next month”.

      “You’re basically walking away from the prosecution?” asked Kaplan, who he has the power to reject the plea deal. He questioned the brutality of the effect after Campos admitted that the bank where he served as vice chairman of its board of directors and a part owner had processed $200 million in gambling proceeds between late 2009 and last year.

      The judge said he will decide whether to accept the plea at a June 27 sentencing.

      Assistant U.S. Attorney Andrew Goldstein said the stipulated sentencing range of up to six months in prison was about what Campos would face if he pleaded guilty to a felony. Goldstein also said the government had succeeded in banning the 57-year-old Campos from future jobs with banking institutions.

      Assistant U.S. Attorney Arlo Devlin-Brown said the deal given Campos was also an acknowledgement that there were trial risks, especially after people working on behalf of the gambling outlets had given Campos legal opinions suggesting that it might not be illegal to process the money for Internet gambling companies.

      “There would be a risk that a jury on that basis could have a problem,” Devlin-Brown said.

      He also said the bulk of the case brought by the government concentrated on people who duped U.S. banking institutions into accepting gambling proceeds by hiding them behind sham companies. Campos, he said, came at the “tail end of the conspiracy.”

      The government said co-defendant Chad Elie persuaded Campos to let his bank process money for the foreign-based online poker sites. The men were supposed to stand trial together. Elie pleaded guilty to a transgression charge earlier this week and is awaiting sentencing.

      For the complete story go to :washingtonpost.com

    • #25166

      On the 18th of April 2012, New York judge Lewis A. Kaplan accepted the guilty plea of former St. George banker John Campos, who faced charges that he illegally agreed to process payments for online poker companies at SunFirst Bank. Campos is one of the 11 men indicted by the Department of Justice on Black Friday. The former vice chairman of the St. George-based bank pleaded guilty on March 28 to the misdemeanor, but Kaplan delayed approving the plea, asking prosecutors to explain why they entered into the deal.

      The judge accepted the plea agreement on 18th April, after prosecutors submitted a letter saying Campos’ involvement in illegal online poker transactions was minor. Campos was facing six charges and up to 35 years in prison, but he entered a last-second plea agreement with prosecutors in March.

      Campos is the sixth Black Friday defendant to enter a guilty plea. The others are Absolute Poker co-founder Brent Beckley and payment processors Ira Rubin, Ryan Lang, Bradley Franzen, and Chad Elie, who was set to go to trial with Campos this month.

      Read the complete story at Salt Lake Tribune.

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