US Nets 1st Guilty Plea In Massive Poker Probe

Law360, New York (May 23, 2011, 4:10 PM EDT) -- A man accused of aiding a scheme by poker companies to defraud banks pled guilty in New York on Monday to conspiracy to commit fraud and other crimes, becoming the first suspect in the multibillion-dollar scandal to admit wrongdoing.

Bradley Franzen, 41, faces a maximum of 30 years in prison after admitting to conspiracy to defraud, accepting money for unlawful gambling and conspiracy to commit money laundering, according to his plea agreement; he will also be ordered by U.S. District Judge Lewis A. Kaplan to make...
To view the full article, register now.




Case Information

Case Title

USA v. Tzvetkoff et al

Case Number



New York Southern

Nature of Suit

Date Filed

April 15, 2010

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.