Ira Rubin Sentenced To Three Year Prison Term For Black Friday Involvement
Bloomberg yesterday reported that Ira Rubin, one of the 11 men indicted by the Department of Justice for their participation in illegal payment processing following the Black Friday injunctions, was recently sentenced to three years in prison and order to forfeit $5 million.
Following his indictment last January, Rubin pleaded guilty to conspiracy in connection with his involvement as a payment processor for the three poker sites deemed by the government to be operating illegally within the U.S., PokerStars, Full Tilt Poker and Absolute Poker.
Rubin initially faced a maximum sentence of 55 years in prison, but a plea saw that reduced to 18-24 months before the judge in the case, Judge Lewis Kaplan, did not believe the sentence was an adequate deterrent and instead extended Rubin’s time to 31 months with good behaviour.
“You are an unreformed conman and fraudster,” Judge Kaplan told Rubin in Manhattan on Thursday according to the report carried by Bloomberg, adding that his actions were a “brazen” defiance of U.S. law and that as such, a “significant sentence was necessary to protect the community”.
Bloomberg also reported that “once he is out of prison, one of the conditions of Rubin’s release will be that he cannot participate in any business occupation related to payment processing or financially services.”