A Michigan poker professional convicted of auto mortgage fraud final 12 months may find yourself having to pay tens of millions of {dollars} in restitution for his crime, and he plans to earn that cash one poker event at a time.
George Janssen, a four-time World Sequence of Poker Circuit ring winner and former automotive seller, pleaded responsible in August 2025 after the U.S. Division of Justice (DOJ) charged him with one rely of monetary establishment fraud over a fraudulent auto mortgage scheme the place he defrauded a number of credit score unions out of practically $4 million.
Now, forward of his sentencing scheduled for later this week, Janssen has requested for a lighter sentence than the minimal advice in order that he can try “to make restitution” by enjoying poker.
“It’s Mr. Janssen’s intention to pay restitution to all affected events with the proceeds of his poker winnings,” his lawyer, Keith E. Corbett of Barone Protection Agency, mentioned in a latest court docket submitting.
Learn Extra Concerning the Federal Fraud Case
“The Street to Hell Is Paved With Good Intentions”
Janssen’s authorized saga started with a weird story that he was being extorted by gang members and held captive for over a month after being discovered zip-tied and bloodied on a rural Michigan street in December 2023 — apparently an elaborate story fabricated to evade his monetary hassle.
He was later investigated by the FBI and finally charged with monetary establishment fraud after he “knowingly executed a scheme or artifice to defraud and to acquire cash, funds or different property” owned by a number of credit score lenders “via materials false or fraudulent pretenses, representations, or guarantees” from June 2016 to October 2023.
In a memorandum filed on Friday, Corbett instructed the court docket that Janssen “has by no means denied his guilt on this matter and has completed the whole lot in his energy to just accept accountability for his actions.”
His lawyer additional mentioned that the fraudulent auto mortgage scheme was a results of monetary hardship that Janssen’s automotive dealership skilled in the course of the Coronavirus pandemic.
“Because the economic system slowed down George was confronted with important challenges in his enterprise. These issues trigger(d) him to interact within the actions that resulted within the fees on this case. It was all the time George’s intention to pay the cash again and guarantee nobody suffered monetary hurt.”
Janssen’s lawyer added that “this unrealistic expectation finally resulted in a proper accusation on this matter. Proving the maxim that ‘The street to hell is paved with good intentions.'”
As Janssen’s enterprise issues grew, he “elevated the scale and scope of his fraudulent actions” earlier than finally informing main victims earlier than “issues got here to go.”
He was later sued civilly by one of many lenders, Copoco Group Credit score Union, and bought “all of the property in his possession,” together with his house and several other acres of land.
Poker Professional Awaiting Sentencing for Financial institution Fraud Wins Match in Michigan
Taking part in Poker to Win Restitution Cash
Since pleading responsible final summer time, Corbett mentioned Janssen has relied on “enjoying poker at native casinos” as his “supply of revenue.”
“He has been fairly open with the probation division about his efforts to earn an revenue from enjoying poker. He has offered information which make it clear that he can earn a dwelling enjoying poker.”
Corbett argued that giving Janssen a lighter jail sentence of 24 months — down from the minimal advice of 51 months — will enable the poker professional to get a head begin on making restitution, noting that “after his launch from federal custody, he’ll be capable of pursue enjoying a bigger venue which can enable him to earn more cash than he can at native venues.”
“It will enable him to reunite together with his spouse and Kids in addition to making an attempt to make restitution,” wrote Corbett. “Spending 4 years in jail will assist no person.”
Janssen has already made some headway in that regard. Simply weeks after pleading responsible, the poker professional with $505,291 in Hendon Mob earnings took down an occasion at Firekeepers On line casino in Battle Creek in Michigan for $18,556.
Extra not too long ago, he gained a $200 buy-in bounty event at Michigan’s Hovering Eagle On line casino and Resort for $2,553 and later completed third in a $300 buy-in occasion on the similar venue for $4,323.
Corbett, who’s a former federal prosecutor who dealt with playing circumstances, famous that “conversations with quite a few playing specialists have suggested me that good poker gamers have a wonderful alternative to make a revenue regularly.”
“Janssen has all the time made a revenue,” he mentioned.
Connor Richards
Senior Editor U.S.
