• Canadian Man Pleads Guilty in U.S. Online Gambling Charge

    14 May 2010

    Newspaper

    Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies.

    Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months. Sentencing will be held Sept. 15th, 2010.

    According to a statement to the Judge Tuesday, Rennick said,

    “I had a business that transferred money from offshore gaming sites to American players within the Southern District of New York.”

    According to the U.S. Attorney, he used these businesses to transfer money from a Cyprus bank to U.S. accounts to pay U.S. players who have cashed out there gambling winnings from 2007 to around June of 2009.

    According to the U.S. government, Rennick told the U.S. banks he was using the accounts to process rebate checks, refund checks, payroll processing and other various uses. Instead, they said, he laundered money from online gambling companies. The companies in which he was said to operate were, My ATM Online, KJB Financial Corp., Account Services Corp. and Check Payment Financial Co.

    Currently Rennick lives in British Columbia, Canada and is free on $400,000 personal recognizance bond.

    Related News

    • 16 October 2018

      Authentic Gaming Enters Italian Market

      The Italian online gambling market has seen some expansion this year, and the latest on that front is the entry of Authentic Gaming, a software developer primarily known for the quality of their live roulette games. This is a pretty big deal for the company as it puts them in front of a ton of new players that they would not have had access to previously. Bringing Live Roulette to Another Level

      Read full article
    • 06 March 2018

      Denmark and Romania See Blueprint Entrance

      The current nature of the regulation of the online gambling industry has each individual country (and sometimes areas within those countries) having their own bodies to regulate the industry. As such, getting a license to operate in each individual area is an important part of the strategic expansion of any given operator or software developer.

      Read full article
    • 02 November 2017

      Malaysia Cracking Down on Illegal Gambling; New Law Possible

      Malaysian authorities are making good on their promise to crack down on illegal gambling operators, including online providers. The country's Common Gaming House Act 1953 was created before the advent of online gaming, and although still considered illegal, some operators have found ways to get around the act by using family entertainment center licenses and other means. One politician wants to close any loopholes that might exist. Latest Crackdown

      Read full article