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Written by Mathias | Monday, March 8th, 2010
An illegal online poker money transferring operation has been uncovered in which federal investigators have arrested a German man for allegedly transferring more than $70 million in online poker winnings to 23,000 mostly US citizens since 2007.
Bank staff first alerted authorities who became suspicious of the activity of customers when they began trying to cash very large checks from 29-year-old Michael Olaf Schuett’s company, MCM Capital Management, claiming they had won the funds by playing online poker.
Also, FedEx had become suspicious after they noticed a high number of packages mailed from Schuett’s home. A note read, “Federal Express employees became suspicious of Schuett’s activity when Schuett began mailing over 150 parcels per week. FedEx employees opened several of the parcels and determined that each contained a check.”
Thus far, the investigation has discovered that Schuett had in fact been using more than 40 different accounts he had opened at the Bank of America, in addition to other accounts he had at Wachovia, CNL, 5/3 Bank, Shamrock, and Northern Trust Bank of Miami. These accounts were used to send and receive wire transfers with more than 23,000 online gamblers.
It appears that Schuett is also the registered agent of a 424-business network in Naples, Bradenton State, and Tampa, Florida that includes the MCM Capital Management Corp listed above, as well as MI Global Inc, South Naples Escrow Co, Woodhouse Systems, Mathew’s Trade Corp, Southwest Florida Payroll Co, and Internet Payment Services Group, Inc. Apparently Schuett used these companies as fronts to operate his money transfers, despite the fact that he never even registered himself as a money transmitter. He claimed to bank staff that he was a real estate investor.
Schuett would use his companies as fronts to carry out his money transferring operations, despite never registering himself as a money transmitting business. When questioned by bank staff as to the nature of his business, Schuett tried to pass himself off as a real estate investor.
Schuett is being held in Florida without bond as detectives seize his properties and assets purchased by money he made via illegal activities related to online gambling. There’s so many easier ways to make money in this business, as it seems like this guy went through a lot of trouble for all this.
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Written by Mathias · Filed Under news · |
