Poker Processor Sent Back To Jail

Months back we wrote about Michael Olaf Schuett who was accused of illegally processing around $70 million worth of online poker winnings between November 2007 and March this year. He’s been sent back to Lee County jail, Florida after increasing concerns that he may try fleeing the country.

Schuett who has been facing a jail sentence of 5 years was bailed out by by his wife of 9 months Jennifer Sherman with a bail of $100,000. However, its been believes that she’s largely responsible for his re incarceration after she became concerned he may try to flee and she would lose the money.

According to documents surrounding the case, Sherman “indicated she was in fear, was afraid her husband was going to flee, and wished to be removed from the defendant’s bond.” His wife was responsible for paying the cash if Scheutt fled the country.

However, on the other side of the spectrum, a Schuett’s lawyer argued that Schuett had shown “substantial and exemplary” behavior while assisting federal investigators and should remain free on a bond, U.S. Magistrate Judge Sheri Polster Chappell was of a different opinion.

The judge stated, that the accused has “no employment ties, no familiar ties, is not a US citizen, and sought information to obtain a pilot’s license’. She ordered him back to Lee County Jail.

Federal agents seized $2.47 million from a number of bank accounts, $10,000 cash found in Schütt’s home, cars and jewelry.