Nelson Burtnick, the Canadian executive who was indicted for money laundering in April 2011 in connection with his role operating the Full Tilt Poker gambling website, pleaded guilty to money laundering today.
He was indicted, along with several others, for money laundering, bank fraud, and illegal gambling for disguising payments from U.S. gamblers as payments to fictitious online merchants selling other goods and services. He admitted that he helped to deceive banks into processing hundreds of millions of dollars worth of gambling transactions in the U.S. He faces up to 20 years in U.S. federal prison.