Michael Olaf Schuett, a German citizen living in the US, is now the target of a federal investigation
after it was discovered that he has transferred over $70 million in poker winnings to over
23,000 American customers since 2007. FedEx, a global shipping company became suspicious of
Schuett after noticing a large number of packages being mailed out from Schuett’s home address.
The federal complaint states: “Federal Express employees became suspicious of Schuett’s activity
when Schuett began mailing over 150 parcels per week. FedEx employees opened several of the parcels and determined that each contained a check.” The investigation has concluded that Schuett was using Bank of America accounts and numerous accounts at other banks in the US.

Schuett is a registered agent of over 424 networked businesses in Florida. He was using his companies as fronts to carry out the money transferring of poker funds to over 23,000 customers in the US. He never registered as a money transmitting business, and the banks have acknowledged that he passed himself off as a real estate investor. Michael Olaf Schuett is being held without bond while federal agents continue to execute search warrants and seize assets.

After the UIGEA was signed into law in 2006, the federal government has been going after online
gambling processors that continue to process online gambling payments for American customers.

Take Advantage of these Exclusive No Deposit Casino Bonuses!