The U.S. Department of Justice has racked up yet another Black Friday conviction. Ryan Lang, one of the payment processors indicted on April 15th, 2011 plead guilty earlier Tuesday in Manhattan federal court to conspiracy charges in connection to Black Friday.
Lang admitted per the agreement that he served as a payment processor for online poker companies in an attempt to circumvent the UIGEA and IGBA. He also admitted that he committed these crimes from 2007 to around the middle of 2010.
Lang operated out of Canada and helped processors make fraudulent statements to US banks in order to allow poker deposits and withdrawals to be processed. Lang apologized for his crimes.
Lang is facing up to 30 years in prison and sentencing has yet to be announced. He becomes the latest to strike a plea bargain with the DOJ. Ira Rubin and Brett Buckley had struck deal prior to Lang’s deal. This is the 4th overall conviction in connection to the UIGEA. Daniel Eremain and Todd Lyons were also convicted of UIGEA violations in December.
Chad Elie and John Campos are the only two defendants currently scheduled to go to trial, but don’t discount a plea deal from them before their trial begins. We will keep you updated on this story as more information is available.