Our Videos

August 6, 09

NEWS / Internet Gambling Payment Processor Charged with Bank Fraud, Money Laundering and Illegal Gambling O


NEW YORK—Lev L. Dassin, the Acting U.S. Attorney for the Southern District of New York, and Joseph M. Demarest, Jr., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (FBI), announced today the filing of an indictment charging Douglas Rennick with bank fraud and other offenses stemming from his role in processing more than $350 million for Internet gambling companies. According to the indictment filed yesterday in Manhattan federal court:

Since at least 2007 through June 2009, Rennick opened a number of bank accounts in the United States under various corporate names, such as KJB Financial Corporation, Account Services Corporation and Check Payment Financial Co. In opening the accounts, he and his co-conspirators falsely represented that the accounts would be used for such purposes as issuing rebate checks, refund checks, sponsorship checks, affiliate checks and minor payroll processing. In fact, Rennick and his co-conspirators used the accounts to receive funds from offshore Internet gambling companies that offered, variously, poker, blackjack, slots and other casino games. Rennick and his co-conspirators then disbursed those funds via checks to U.S. residents seeking to cash out their gambling winnings. Rennick and his co-conspirators provided false and misleading information to U.S. banks about the purpose of the accounts because the banks would not have processed the transactions had they known they were gambling-related. In total, Rennick and his co-conspirators processed more than $350 million transferred from a Cyprus bank account to various U.S. bank accounts for this purpose.

Rennick is charged with one count each of conspiracy to commit bank fraud, conspiracy to engage in money laundering and conspiracy to operate an illegal gambling business. If found guilty, Rennick faces a maximum term of 30 years in prison and a $1 million fine on the bank fraud charge, 20 years in prison and a $500,000 fine on the money laundering charge, and five years in prison and a $250,000 fine on the gambling charge. The indictment also seeks the forfeiture of at least approximately $565,908,288, which represents the amount of proceeds obtained as a result of the illegal gambling and bank fraud conspiracies. The case has been assigned to U.S. District Judge Sidney H. Stein.

Rennick, 34, currently resides in Canada.

Mr. Dassin praised the investigative work of the FBI and thanked the Department of Homeland Security’s U.S. Immigration and Customs Enforcement and the Internal Revenue Service for their assistance in the investigation. Mr. Dassin added that the investigation is continuing.

Assistant U.S. Attorneys Arlo Devlin-Brown and Jonathan New are in charge of the prosecution, and Assistant U.S. Attorney Jeffrey Alberts is in charge of the forfeiture in this case.

The charges contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty

http://newyork.fbi.gov/dojpressrel/pressrel09/nyfo080609.htm

Tags: corporation,
 




Testimonials

John Beacleay

Just wanted to say thanks again for all your help Anton. I mean it's really amazing to me that yo...
Read More »
Niranjan Sujay
I recently used LOGOS INTERNATIONAL for the translation of my bachelor’s certificate, and I couldn’t...
Read More »
Katia Nagata

As a foreigner, I needed a certified translation, so I called the DOE to give me a list of the ce...
Read More »
AnnaMaria Realbuto
Thank you for all your assistance and efficiency...
Read More »




FAQ

Since when does the Wassenaar Arrangement exist?
Read More »
CAN STATES IN THE U.S. APPOINT COMMISSIONERS OF DEEDS TO PERFORM EXTRATERRITORIALLY NOTARIAL ACTS FOR USE IN THAT STATE?
Read More »
What portraits are shown on our circulating coins?
Read More »
Does a home study preparer conducting home studies of American citizens residing abroad in Convention cases have to be authorized to conduct home studies in the United States and/or in the country whe
Read More »






News

July 3, 25
TX woman arrested after convincing pastor to certify fake marriage certificate
Read More »
July 1, 25
South Carolina woman accused of altering sister’s death certificate to commit insurance fraud
Read More »
June 26, 25
Jefferson Davis Hospital birth certificate errors persist; causing headaches for many
Read More »
June 19, 25
Iowa man whose body was found after home explosion died of suicide – death certificate
Read More »