Black Friday banker John Campos has been handed a three-month sentence for processing illegal gambling transactions. Campos admitted to have processed transactions worth more than $200 million but struck a deal to get his sentence reduced.
Another chapter has been closed in the Black Friday proceedings, as banker John Campos was handed a three-month sentence yesterday by District Judge Lewis A. Kaplan.
The sentencing took place in a Manhattan court, according to a report from Businessweek
Campos was the former Vice Chairman and part owner of the SunFirst Bank in Utah, which according to the Black Friday indictments was used to illegally process transactions from online poker sites
to U.S. citizens.
Campos was facing a long jail sentence for his involvement in the case, but managed to strike a deal with prosecutors in return for admitting to have processed transaction for more than $200 million.
However, questioning the validity of the plea deal, Judge Kaplan requested for the prosecution to defend its decision to let Campos walk, and the case has seen some delay because of this.
Kaplan later accepted the prosecution's explanations as well as a claim for Campos to be handed a sentence on grounds of a misdemeanor charge, rather than on that of a felony.
Judge Kaplan agreed to the claim and yesterday handed Campos a three-month sentence.
On top of the prison sentence, Campos will also be banned from working in the U.S. banking industry for the rest of his life.
The sentencing of Campos will bring the number of closed cases in the Black Friday indictments to five, following similar guilty pleas from Ira Rubin, Bradley Franzen, Ryan Lang and Chad Elie.
Another six cases are still to be pursued by the U.S. prosecution, including those of Full Tilt Poker executives Howard Lederer
and Chris Ferguson
, as well as PokerStars
founder Isai Scheinberg.