Bryan Micon, the former chairman of the Bitcoin-based online poker site SealsWithClubs, has accepted a plea deal with Nevada authorities to resolve his one-time operation of the site. Micon was charged in late April with a single count of operating an unlicensed interactive gaming system in the state of Nevada, which according to the state’s law could have included a hefty $50,000 fine and as much as ten years in prison.
According to Nevada media reports citing local documents in the case, Micon will receive much more lenient terms as part of the deal. Micon will receive probation on the single charge and will have to pay a $25,000 fine. Micon will also relinquish ownership of Micon also agreed to relinquish ownership of $900, various electronic equipment seized from his Vegas residence in a February raid, along with 3.0996 Bitcoin seemingly present in a virtual wallet on one of the seized devices.
The deal also reduces the nature of the crime from a felony to a gross misdemeanor, which allows Micon to retain certain US citizenship-based rights. That reduction is conditional upon the successful completion of a probationary period by Micon. The length of the probation has yet to be set by the judge; Micon will return to a Las Vegas courtroom on July 6th to hear the final conditions of the deal.
Micon returned from Antigua last week after the initial framework of his surrender and plea deal was negotiated by his attorneys, the high-powered Vegas firm of Chesnoff Schonfeld. Richard Schonfeld, who has handled Micon’s case personally, deemed the settlement “an appropriate solution” in a statement to local courtroom media following Thursday’s hearing.
Micon served as the former frontman of the SealsWithClubs site, which one of the first to ever accept Bitcoins as a currency
Originally appeared at: http://www.flushdraw.net/news/former-sealswithclubs-exec-bryan-micon-accepts-plea-deal/
Former SealsWithClubs Exec Bryan Micon Accepts Plea Deal is a story from: BitcoinWarrior.net