US/EST: 25 Sep 2020 14:25

The founder and former owner of PokerStars

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8 months ago

The founder and former owner of PokerStars Isai Scheinberg has finally surrendered to US law enforcement to face trial after charges were filed against him on April 15th, 2011.

Scheinberg was charged with illegal gambling, money laundering, and bank fraud nearly nine years ago related to PokerStars facilitating gambling-related transactions to target Americans. He was one of eleven people charged on that date, with multiple domains seized by the government and effectively shut down. PokerStars eventually settled with the feds, with Scheinberg resigning his post and the company paying out a massive fine, while also absorbing the assets of Full Tilt Poker.

Scheinberg was taken into custody but released on $1 million bail. He also surrendered his passport, keeping him in the United States until the case is resolved. It appears that a plea deal has been negotiated between the parties, seeing as how the executive decided to voluntarily surrender. We’re unsure as to what kind of punishment Scheinberg is looking at, but we’ll be updating readers as the case develops.