NY gambling ring organiser makes plea bargain

Hillel Nahmad the art dealer involved in the New York illegal gambling and poker ring has done a plea bargain to reduce charges from racketeering, racketeering conspiracy, gambling, money laundering, conspiracy & other crimes to just one charge of illegal gambling.

If he had been found guilty of all charges he could have been jailed for up to 92 years, as part of the plea bargain Nahmad forfeits $6.4 million in cash and a painting valued at over $300,000, prosecutors say the proceeds were from illegal activities linked to the gambling ring.

It is believed that in the agreement he has helped with naming other persons involved in the gambling ring and how the organisation was set up.

Nahmad will now face 12 to 18 months in prison but his lawyers will ask the judge to impose a sentence that includes no jail time & the dismissal of the other charges in the indictment.

The plea agreement sees one of the most publicised gambling rings with many well-known A-Celebrities involved in poker games organised by Nahmad and others.

Judge Jesse M. Furman who is sitting on the case will decide in March 2014 the sentence for Nahmad.

Prosecutors told reporters that Nahmad was the 14th of the 34 defendants charged in the case to plead guilty. The others who pleaded guilty agreed to forfeit a total of $9 million.

According to the art dealer he started out organising poker and sports betting with close friends and it all just got out of hand.