The cofounder of Absolute Poker, Brent Beckley, pleaded guilty to criminal charges - including conspiracy to commit wire and bank fraud - on December 20th, 2011, according to a report released by the Associated Press.
From 2006 until April of 2011, 31-year-old Beckley admitted in the U.S. District Court in Manhattan that he violated the Unlawful Internet Gambling Enforcement Act. When Absolute Poker arranged for banks in the U.S. to facilitate gambling funds, Beckley knowingly broke the law.
Beckley told Magistrate Judge Ronald Ellis, "I knew that it was illegal to deceive the banks." Ira Rubin was hired by Beckley as a payment processor to get around the United States law according to the Black Friday Indictment; deposits and withdrawals were disguised through various shell companies.
In return for pleading guilty, Beckley accepted a plea deal; prison for a year to a year and a half instead of the maximum prison sentence of 30 years. Sentencing will take place on April 19th. In the meantime, Rubin's lawyer has told reporters that his client is working on reaching a plea agreement of his own.
A press release has been issued by the United States Department of Justice concerning Beckley's guilty plea.