Absolute Poker Co-Founder Pleads Guilty to Black Friday Charges

Brent Buckley became the first person convicted in connection with Black Friday. On Tuesday, he pleaded guilty to conspiracy charges in connection with the Black Friday indictments. Buckley was the co-founder of online poker site Absolute Poker.

As he stood before Magistrate Judge Ronald Ellis, Buckley said that “I knew that it was illegal to deceive the banks.” According to his statement to Judge Ellis, Buckley started committing his crime in the fall of 2006 and continued until he was indicted on April 15th.

Buckley was facing charges of bank fraud, money laundering, operating an illegal gambling business and other UIGEA related charges. The maximum that he could have faced for these charges was 30 years in prison. As a result of his guilty plea, the most he will serve is 18 months in prison. His sentencing is scheduled for April 19th, 2012.

Buckley is not the only person close to resolving his issues with the DOJ. Ira Ruben is reported to be close to a plea deal with the US Department of Justice as well. Ruben was the payment processor that Buckley hired to process payments for Absolute Poker. No details for Ruben’s agreement have been revealed, but since his lawyer is talking about it, chances are that it will be soon.

Two other are facing future court appearances in connection with the Black Friday indictments. Both John Campos and Chad Elie had tried to recently have their part of the indictments dismissed and were unsuccessful. At present, they are scheduled to go to trial March 12th. With Buckley having accepted a deal, Campos and Elie may decide to put in a deal to resolve their issues.

Buckley is officially the 2nd conviction in connection with the UIGEA. Daniel Eremian and Todd Lyons were both convicted on the 12th for various UIGEA violations. Both men will be sentenced on March 8 and are facing at least 28 years each.

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