One of the eleven men indicted by United States authorities over online gaming last month has pleaded guilty to money laundering and bank fraud charges.
According to reports, Bradley Franzen has admitted acting as a payment processor for firms operating in the US, namely Full Tilt Poker, Absolute Poker and Isle of Man-based PokerStars.
He has also pleaded guilty to operating an illegal gambling business.
Franzen told the federal court in New York he helped the firms circumvent laws banning the processing of online gambling payments in the US, and deceiving banks as to the nature of the transactions.
If convicted, Franzen could spend up to 30 years in prison, but he has entered a plea agreement which recommends leniency at his sentencing on August 26, if he cooperates with federal prosecutors.
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