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 Friday, August 07, 2009
Feds seek $566m from man in online gambling case

Federal prosecutors have accused a Canadian man of laundering more than $350m for offshore internet gambling operations to skirt US laws prohibiting payments to American citizens trying to cash out their winnings.

Douglas Rennick, 34, was charged with three felony counts related to the alleged scheme by the US Attorney's office in Manhattan. Between February 2007 and June 2009, he and several unnamed co-conspirators established sham businesses that provided false information to banks so they could carry out large financial transactions that otherwise would have been barred, according to an indictment filed Thursday.

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ITU Global Cybersecurity Agenda