Ira Rubin and his, uh, dog, with pink bows

Payment processor Ira Rubin submitted a guilty plea on January 17,  to conspiracy charges as a result of a US sting operation that we’ve all come to know and love– “Black Friday.” With the plea, he is expected to serve no more than two years in jail; had he pleaded innocent and been found guilty, Rubin could have spent up to eighty years behind bars. A US citizen, Rubin was indicted for helping move billions of dollars for the online gambling organizations, obscuring the movement in phony companies. Nice guy, huh? In this way, he assisted the gaming companies conceal their profits.

Since being arrested in Guatemala in 2011, Rubin, 53, has been held in prison. The court found him a flight risk at his indictment. He had sought release on $300,000 bond. Because of the time he has already been held in jail awaiting his trial, he is not likely to serve much of his sentence. Ira is one of the 11 people charged with illegal activities related to fraudulent gaming activities from Black Friday.

Recommended Reading: DOJ Changes Stance On Online Gambling

While life isn’t looking too good for Rubin since he pleaded guilty in U.S. District Court in New York, many wonder what impact his plea has on those who lost money with the demise of the online gaming companies Rubin worked with. In particular, what about the affiliates who worked with those companies? Will they ever see the money due them? The answers as yet are not fully known, but one thing is for sure: gaming and affiliate opportunities continue in the US and elsewhere.

What do you think? Does Ira deserve to burn in prison or did he just get caught up in the corruption surround Black Friday?

Related posts: