German money launderer sentenced

German national Michael Olaf Schütt (29), who was arrested during investigations into online-gambling payments to players has been given a comparatively light sentence by a Florida court which recognised his assistance to Federal investigators following his arrest.
Schütt, who enjoyed a rich lifestyle, was accused of funneling millions of dollars in internet poker gambling winnings through dozens of bank accounts.  During his operational activities, since 2007 he transferred roughly $70 million through 40 Bank of America accounts to approximately 23,000 internet gamblers.
This week a US District Judge Charlene Honeywell sentenced Schütt to 80 days, time already served in the Lee County jail.
Investigators had already seized $2.47 million from his bank accounts, $10,000 from his home, jewellery and luxury cars – all purchased with illegally transmitted funds.   If Schütt remains in or returns to America, he would serve three years of supervised release, may not use credit cards, open credit accounts or make major purchases without his probation officer’s consent.  He has, however, chosen to return to his home country – Germany, but without his American wife who has left him, according to U.S. media reports.

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