Ira Rubin Pleaded guilty last month to several counts related to breaking US gambling laws while deceiving several US banks. Rubin, who has been living in Costa Rica for the past several years due to telemarketing fraud charges, assisted the three major sites involved in the indictment last April 15th. Rubin pleaded guilty to one count of breaking US laws against internet gambling and one count each of conspiracy to commit bank and wire fraud, and also participating in a money laundering conspiracy.
The three sites involved were Absolute Poker, PokerStars and Fully Tilt Poker. Along with Rubin, Brent Beckley, co-owner of Absolute Poker also pleaded guilty to similar charges late last year.
According to this article: http://blogs.wsj.com/corruption-currents/2012/01/17/man-pleads-guilty-in-us-internet-gambling-crackdown/ Rubin helped the sites transfers tens of millions of dollars in illegal gambling wagers. Currently the US Government does not regulate online gambling. That fateful April day that left visitors an all black screen informing them that the domain had been seized by the Government was a disturbing realization that the online gambling industry needs a little bit of Government regulation. In fact, the online gambling industry may be the only industry vying for the Government to get involved.
It’s no surprise that the “cash-strapped” economy couldn’t use the 40 billion dollars in tax revenue that could be generated in just ten short years on just poker. If the whole industry were to be taxed it could make a significant dent in the US debt. The only question not if, but when?