• The Feds Have Filed New Charges Against Saga Online Payment Processor

    07 August 2009


    Our friends in the Federal Prosecutors Office for the Southern District of New York (SDNY) are at it again. This is the same office which ordered the arrests of NETeller co-founders John LeFebvre and Stephen Lawrence in 2007. They also froze $55 million of NETeller funds.

    What is the SDNY up to now? They have indicted a Canadian resident, Douglas Rennick, for money laundering, bank fraud, and operating an illegal gambling business. This last one is for supposedly processing payments for online casinos. According to the indictment, he has transferred more than $350 million from a bank in Cyprus to several U.S. banks to pay funds to gamblers in the U.S.

     Douglas Rennick faces up to a total of 55 years in prison if convicted on all charges. The maximums are 30 years for the bank fraud, 20 years for the money laundering and 5 years for the gambling. He also faces fines of up to $1.75 million. The prosecutors are also trying to take $565,000 he allegedly made for processing the illegal online gambling transactions.

    In opening the various bank accounts in several banks, he is accused of falsifying or hiding the true reasons the accounts were to be used for. The charges in this case are from an investigation begun in 2006.

    You can read the Indictment here.

    Related News

    • Habanero strikes rush street interactive  deal

      Gambling News

      Another Promising Partnership - Habanero And Rush Street Interactive Are Teaming UpKristina Vujadinovic06 August 2020

      One of the best providers of iGaming products, Habanero, has signed a distribution deal with United Stated based operator Rush Street Interactive (RSI). This partnership will enable the developer to breach the new market for the very first time.

      Read full article
    • Spi 16 games launch at four more casinos

      Gambling News

      Spin16 Games Launch at Four More CasinosJesse Eddleman04 March 2017

      It's been a long time since we have seen a widespread adoption of an atypical format for online slots. The fact of the matter is that the five-reel, three-row video slot with vertical reel gameplay is the most popular type of game out there today, and it's unlikely that anything will change that anytime soon. The Spin16 format is the closest thing we've had to an alternative for the video slot format in quite a while, and these games are being added at four key brands.

      Read full article
    • Ukraine jurisdiction

      Slot Winners

      Ukraine Unveils High Licensing Fees for Online Gambling10 December 2015

      The online gambling industry is interesting in that it's regulated in completely different ways in virtually every country on the planet. Ukraine has recently been working on legislation that would see them open up and regulate the industry as well, and the first indication is that the licensing fees and costs for doing business will be rather high. This is typically a bad thing for a jurisdiction for a variety of reasons. A Ukraine National Gambling Regulator

      Read full article