Absolute Poker executive Brent Beckley pleaded guilty today in federal court in Manhattan today. Beckley was charged in the Black Friday indictments. Beckley pleaded guilty to conspiracy to commit bank and wire fraud and conspiracy to violate the UIGEA.
This may just be the beginning. Beckley was not widely known to have been in custody. His likely sentence will be between 12-18 months. This leads me to believe that some information was provided in exchange for a deal to receive a shorter sentence. If that is the case, Scott Tom could be in federal court soon. Tom is widely believed to be the main cheater in the Absolute Poker scandal.
The Cereus Network, consisting of Absolute Poker and Ultimate Bet, still operate online. The poker room offers free money play as well as real money games. The cashier no longer works though so players can no longer deposit money. There are very few real money games that run and those that do are typically penny games.
The Cereus Network still operated after Black Friday and allowed U.S. players to play for real money for about a month after the indictments were unsealed. Payments to players outside of the U.S. stopped about three months ago and Cereus announced that they would be going into liquidation. Players in the U.S. have not received any payments since Black Friday. It is estimated that Cereus owes players close to $50 million.