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More on Resident Facing Charges

It’s illegal to facilitate and process payments between offshore online casinos and US residents according to the highly controversial UIGEA. The UIGEA does not make internet gambling illegal in the US per se, but rather tackles the problem from the financial services side by forbidding US companies to actually process the transactions (both deposits and withdrawals) from the offshore and foreign online casino gambling companies. Because of the specifics of this law, it’s really dangerous for the US based companies and banks that are continuing to process transactions –and actual US residents, like Michael Olaf Schuett, face huge fines and jail time if they are caught by the US Department of Justice.

Schuett is the latest development in the US online casino gambling saga as he was arrested in Naples, Florida by the federal authorities. The accusations and allegations laid against Schuett are not looking very positive right now as the police have linked him to using FedEx and illegal money transfers to process payments between offshore online casinos and US gamblers. By funneling money through his legal company based out of Florida he was able to issue checks to US players who had won money from overseas companies.

This is precisely the activity that is expressly forbidden at the federal level and Schuett will face huge charges in the courts as this online casino processing case progresses. GambleCraft has previously detailed just how Schuett was able to process the transactions as well as how his activity was discovered by the authorities. Right now, it’s a bit of a waiting game as the authorities continue to build a case against Schuett and he sits in jail awaiting the trial.