Still making sense of it all, and how this is different from other poker-related money seizures and charges against Canadian Douglas Rennick … but it looks to be something big, and a new level of poker prosecutions.
Here\’s the story from the Naples News:
Feds investigate Naples man in money laundering probe tied to online gambling
It may or may not be coincidental that the the Feds have arrested Michael Olaf Schuett’s for money transfers directly related (allegedly) to online poker just as the state is taking a closer-than-ever look at the game with eyes on its revenue potential. It\’s also not clear if Schuett\’s been charged with anything yet, or is just being held because he is a foreign national flight risk with felony charges pending.
Here are some plausibly relevant names, and highlights that jump out at yours truly:
- Michael Olaf Schuett, or Schütt, is the guy they\’re after. He\’s a 29-year-old German whose visa expire in April. A federal judge has ordered him held in Lee County jail without bond.
- He lives in a pretty sick oceanfront condo.
- He\’s been married only a month to a 28-year-old woman he\’s known for only nine months. Her name is Jennifer Sherman.
- Feds allege that since opening accounts in 2007, Schuett has transferred about $70 million to 23,000 people, mostly Americans and supposedly online poker winnings.
- The giveaway was dozens of checks being received daily via Fed Ex.
- People cashing checks sent to them from Schuett claim they are online poker winnings.
- Secret Service is the law enforcement agency involved.
- Agents are seeking to execute search warrants and seize allegedly ill-gotten property, such as fancy cars and watches.
- The complaint lays out a web of money transfers between businesses and banks and players.
- Lots of American and Canadian banks in play. Key company serving as go-between: Bluetool Ltd. out of Germany.
- Supposedly no direct allegations in the complaint against any online poker sites, but the Naples News reporter was able to connect them to transactions from Full Tilt, PokerStars, and Absolute.
- Three specific players — Corey Drury, Darren Elias, and Derek Dubois — get named as receiving money through Schuett\’s legally questionable operation. All three have public profiles on BluffMagazine, PocketFives, CardPlayer, and PokerPages.
- As banks became hip to the set-up, Schuett tried to create a new accounts to hold the money, claiming to be a real estate investor — a story the banks didn\’t buy.