Canadian Payment Processor Douglas Rennick Pleads Guilty

Cops plea for processing cashouts, forfeits $17.1 million

by , May 11, 2010 | 5:23 pm

In a story that was originally reported in August, Canadian payment processor Douglas Rennick pleaded guilty in New York City to a charge of processing offshore bets to US residents and forced to forfeit $17,100,000.

Sentencing for Rennick is scheduled for sentencing on September 15th, with a prison term of six to twelve months expected.


3 Comments to “Canadian Payment Processor Douglas Rennick Pleads Guilty ”


  1. DanM
    says:

    Has Rennick turned himself in yet? Or is he still in Canada, planning to show up for sentencing? Anurag Dikshit also still faces sentencing in NYC, in September I believe.


  2. Kevin Mathers
    says:

    He apparently was in NYC to plead guilty. The article notes that he’s free on a 400k bond.

    Dikshit’s scheduled to be sentenced December 15, 2010 unless there’s been a change.


  3. DanM
    says:

    Just read the bloomberg article you linked to. It seems his guilty plea — to just one charge, processing offshore bets for between American citizens and an offshore gambling operation — musta came with some serious caveats. Obviously, the charge they care most about is exactly the above (moreso than bank fraud) … and reducing his sentence implies he is giving up some serious dirt.

    Once they collect the info from Rennick, Schuett, and Tzvetkoff, they should have all they need to get whoever the John Gotti at the top of the pyramid is.