Rennick Loses
Appeal
February
11, 2010
It was a valiant effort,
but in the end it did not work. Douglas Rennick tried to get out of
answering to a federal court in regards to online gambling charges, but
the court said that it was not going to approve his request. He is being
held in contempt of court for refusing to testify.
Rennick is the owner of Account Services
Corp. and KJB Financial Corp. The federal prosecutors say that Rennick
opened bank accounts in the United States between 2007 and June 2009 so
that he could get funds from online gambling companies that were located
off shore. He then paid out these online gambling funds to residents in
the US.
Supposedly he gave “false and misleading” information to the banks so
that he could complete the online gambling transactions. He did not work
alone, there were other co-conspirators involved in it with him. The
government says that he and his partners processed more than $350
million in online gambling funds to US residents, which is against the
law according to the passage of the Unlawful Internet Gambling
Enforcement Act, or UIGEA.
Rennick said that he could not comply with
their requests to appear on behalf of the online gambling companies
because it would violate his Fifth Amendment right against self
incrimination. The US Second Court of Appeals rejected his argument and
are forcing him to testify. They upheld the contempt charge that was
levied against Rennick and told him that he was to appear in the online
gambling case.
