Payment processor Chad Elie on Monday pled guilty to charges brought against him as part of the Black Friday indictments. Elie is the fifth individual from the original April 15 indictments to plead guilty.
Payment processor Chad Elie on Monday became the fifth individual from the Black Friday indictments to plead guilty in court in order to settle with prosecutors for a reduced sentence.
Elie faced a number of charges for his involvement in illegal payment processing for the targeted poker sites
, but pled guilty to a single charge of conspiracy, according to Bloomberg
He also agreed to pay a $500,000 penalty to have his sentence reduced from a possible 85 years to between six and twelve months.
His sentencing was scheduled for October 3 by U.S. District Judge Lewis Kaplan.
Elie's case follows those of four other men, who have all been dragged to court over their involvement with illegal online gambling over the past year.
In Februrary, Ryan Lang pled guilty to charges of illegal poker transactions, and he now faces up to 30 years in jail for conspiracy to commit tax fraud and money laundering, violation of the UIGEA and accepting funds from Internet gambling.
In January, Ira Rubin had a prospective 55-year sentence reduced to between 18 and 24 months after pleading guilty to similar charges, and in May last year, Bradley Franzen pleaded guilty to charges that could carry a 30 year sentence if he does not reach an agreement with prosecutors.
Finally, co-owner of Absolute Poker, Brent Beckley, in December pled guilty to charges of violating the UIGEA and conspiracy to commit bank and wire fraud.
He faces a 35-year sentence, but prosecutors have recommended a sentence of 12 to 18 month.
All four men are awaiting sentencing later this year.
Chad Elie's co-defendant in the recent case, John Campos, is also due to face court for his involvement with illegal payment processing.
Campos faces a 55-year sentence, and will stand trial on April 9.