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November 10th, 2010
Michael Olaf Schütt (29), a German was detained throughout investigation in online gambling payments to players has been imposed a relatively easy jail terms by the court of Florida which acknowledged his support to Federal investigators subsequent to his arrest.

Schütt, who is used to a luxurious and rich lifestyle, was indicted for funneling millions of dollars in various internet poker betting winnings via a number of bank accounts.Throughout his operational activities from 2007 he relocated approximately $70 million dollars using 40 Banks of American accounts to around 23,000 internet players.

Charlene Honeywell, a US District Judge condemned Schütt with a sentence of 80 days. Schutt already completed his sentence in the jail of Lee County.

Investigating officials have previously confiscated $2.47 million dollars from his bank accounts, $10,000 dollars from his home, jewelry and luxury cars – every single one of them obtained with illegitimately disbursed funds. If Schütt comes back or stays in the states, he would be required to serve three years of supervised release, and will be restricted from the using of credit cards, opening of credit accounts or major purchases without the permission of his probation officer. Apparently, Schutt chose his homeland, Germany.

1. danielle jacobs says:
November 11th, 2010 at 06:08 pm
maybe he's just looking for some things to spend his money. Just kiddin' :)

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