Did they learn math from the RIAA?
"laundering more than $350m"
"almost $566m in proceeds"
I don't see how this can add up...
Federal prosecutors have accused a Canadian man of laundering more than $350m for offshore internet gambling operations to skirt US laws prohibiting payments to American citizens trying to cash out their winnings. Douglas Rennick, 34, was charged with three felony counts related to the alleged scheme by the US Attorney's …
Governments never seem to learn that fighting a war on popular pastimes is a foolish waste of resources.
Banning alcohol created the mafia, banning other drugs created street gangs and cartel war machines. Even the taliban derives its power from poppy fields.
Ditto gambling, it just chases the money out of the country, and away from the tax collector.
Correct... It was the payout channel. The guy said it issued affiliate cheques, which means those customers who had gambled online got their proceeds through such 'affiliate cheques'. But because the proceeds were not from their activities as affiliates, but rather as a gambling activity, the reasoning was fraudulent and that's what got him bitten.
And no, it was funnelling money TO US-based customers, after all, it was a pay-out channel. :-)