Douglas Rennick Is Accused Of Fraud And Money Laundering
Prosecutors in New York have filed a complaint against Douglas Rennick.This is accused of bank fraud on state.This had processed over 350 million in funds for various online casinos.
The indictment was made in a federal court in Manhattan. This document includes indictment to Rennick’s how it would be a lot of open accounts with different names such as “KJB Financial Corporation”, “Account Services Corporation” and “Check Payment Financial Co.
Prosecutors allege that tries to hide Rennick processing payments for U.S. gamblers. The indictment is to an account which was opened at Washington Mutual. At the opening of the Washington Mutual, Rennick not disclose to Washington Mutual Bank, which KJB Financial Corporation would process payments from companies gambling on the Internet.
Prosecutors have seized 33 million dollars from one of his companies. Rennick may be sentenced to 30 years in federal prison for bank fraud, 20 years for money laundering and 5 years for gambling.