Online Poker News - Update: Businessman Involved in $51.4 Million Poker Processing Concealment
21st of February 2012 - latestpokerbonuses.com
Why isn’t his name on the Black Friday indictments?
A new report regarding US online payment processing has emerged in the industry this week, when news came that a shady Utah businessman was hiding $51.4 million of online poker payment processing money, by moving funds through a variety of shell companies.
The businessman, identified as Jeremy Johnson, tried to conceal the funds after the Federal Trade Commission sued him and his companies for scamming consumers out of at least $275 million, it is claimed by the court appointed receiver.
The investigation allegedly revealed 65 previously unknown entities that were “involved in moving funds and concealing” assets.
It has been stated in the receiver’s report that “A majority of these entities do not appear to have generated any business income and were used as conduits to reroute funds and to commingle and hide funds.”
Why hasn’t Johnson’s name appear among the Black Friday indictees, when his links to John Campos and Chad Elie, (who both face trial next month after their motion to dismiss the federal charges against them was denied by a federal judge) are obvious, and whether it will be added to the list, it remains to be seen.
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