Dennis Blieden, the former Vice President of Accounting and Finance of StyleHaul pleaded guilty to embezzling the company of $22 m. Blieden, the 2018 LA Poker Classic winner who won whopping $1m by defeating Toby Lewis in heads up admitted to the charges. He admitted embezzling StyleHaul, a former Hollywood Digital marketer.
World Poker Tour Champ, Dennis Blieden, Switching Poker For Porridge After Pleading Guilty to Wire Fraud and Identity Theft The global life expectancy of men is 70-years of age; 75 for women – so it’s as odd as a sentence about a Phoenix that doesn’t rise from the ashes to hear of a 200-year prison sentence. Lucky lands slots. As former vice president of accounting and finance at Los Angeles-based StyleHaul, Dennis Blieden had control over the company's bank accounts. Dennis Blieden Accused of Bluffing Company Bosses. According to the DOJ, the former vice president of finance at social media company StyleHaul used more than $8 million for poker. Dennis Blieden faces 22-years in federal prison after pleading guilty to stealing more than $22 million from his former employers. Thirty-year-old Blieden, who used to live in Cincinnati, Ohio, but now resides in Santa Monica, California, admitted embezzling more than $22 million over three-and-a-half years.
Blieden admitted that he used $22m of the company’s money for his personal experiences. The money was generated from representing Instagram influencers, YouTube streamers, and video bloggers. He also used the money for cryptocurrency. However, it isn’t clear how much was used to get entry into the poker tournaments. This is certainly going to creating shocking waves at the poker industry.
Blieden won the last live cash in the PartyPoker Millions Vegas Main Event. He finished in 17th place. He would, however, seek the clemency from the court. The reports suggest that the FBI has investigated the case and it is highly unlikely.
If the $22m is broken down then the pattern where the money went can be understood. $1.2m of personal cheques were paid to the other poker players, listed during the court plea. Around $1.1m was used to pay off the debt by Blieden. However, a whopping $8.4m was used from the reserves of the StyleHaul to buy his cryptocurrency.
As per the law, if all the charges are proved, then Blieden might be sent to 200 years in jail. It is a matter of seriousness for the poker industry which has dealt with many perpetrators previously. Transparency is one of the most important parts of the industry and violators often go scot-free. The Full Tilt Poker Scandal and Black Friday sit are a few of the examples of such matters where transparency was compromised. It depends a lot on the judgment of Blieden. If he goes down to jail for the rest of his life, then many others might follow.,
However, with Blieden admitting to wire fraud and identity theft, the prison term might come down to 22 years. The decision on his fate would be made on March 20 by District Judge Andre Birotte Junior.
The case got substantially aggressive after the investigation shows the cover-up acts of Blieden. He tactfully covered everything up. He falsified account records and framed the transfer to his personal accounts as the ‘equity’ withdrawals. He showed that the withdrawals are owed to him by the company, Stylehaul. If that was not enough, he also forged letters from the Western Union. The payments were misrepresented by him as being to the clients whereas in actual it was to him.
However, what made things worse was identity theft. Blieden rented a property on the Rosarito Beach, Mexico. He forged the signature of a StyleHaul executive to do that. He purported that the condo was actually a business property. The property would be used by the clients and employees of StyleHaul. This made things worse for Blieden in the court plea.
The Poker player decided to gamble his life and accounts and that did not pay off well. Some people may see it daring and exciting and the jail term would help them understand the consequences of it. It is to be understood whether he is remorseful to avoid a very long jail term.
Source:https://calvinayre.com/2019/11/26/poker/former-lapc-champion-dennis-blieden-pleads-guilty-to-embezzling-22m/
LOS ANGELES – A former executive at StyleHaul Inc., a digital marketing company that represents “influencers” on Instagram and YouTube, pleaded guilty today to federal criminal charges for embezzling more than $22 million from his employer and then using the stolen money for personal expenses and crypto-currency gambling.
Dennis Blieden, 30, formerly of Santa Monica and now a resident of Cincinnati, pleaded guilty to one count of wire fraud and one count of aggravated identity theft.
Free lucky duck slots. According to his plea agreement, between October 2015 and March 2019, Blieden was the controller and vice president of accounting and finance for StyleHaul, a digital company once based in Hollywood, but which relocated to London earlier this year.
As part of his job, Blieden had control over the company’s bank accounts, and he abused this authority to wire company money to his personal bank account, according to a plea agreement. Blieden then used the stolen money to pay for personal expenses and to fund his crypto-currency accounts.
To conceal his scheme, Blieden made fraudulent entries in StyleHaul’s accounting records, falsely representing that the illegal wire transfers he made were authorized payments of money due to StyleHaul clients. Blieden also falsely indicated on one of StyleHaul’s bank accounts that wire transfers to Blieden’s personal bank account were “equity” draws that the company owed him, according to court documents. Furthermore, Blieden created fictitious wire transfer letters that purported to be from Western Union and were designed to make it appear that he had caused wire transfers from StyleHaul to pay money it purportedly owed to a client, the plea agreement states.
Blieden also disguised his fraud by creating a fictitious lease in May 2018 for the rental of a condominium in Rosarito Beach, Mexico, which bore a forged signature of a StyleHaul executive, according to the plea agreement. Blieden admitted that he illicitly transferred $230,000 of StyleHaul’s funds by falsely representing that the condominium was being rented for business purposes for StyleHaul’s clients and employees. This conduct forms the basis of the aggravated identity theft charge.
Blieden, who has entered and won professional poker tournaments, also frequently engaged in online gambling with crypto-currency he purchased with embezzled money, according to court documents. During the course of the alleged scheme, Blieden used money he stole from his employer to write $1,204,000 in personal checks to poker players, $1,134,956 was used to pay off his credit cards, and $8,473,734 was transferred to Blieden’s crypto-currency accounts, according to court documents.
On February 21 and 22, shortly before his dismissal from StyleHaul, Blieden entered into two poker tournaments, wherein the buy-in amounts were $52,000 and $103,000, respectively, court papers state.
United States District Judge André Birotte Jr. scheduled a March 20 sentencing hearing, at which time Blieden will face a statutory maximum sentence of 22 years in federal prison.
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The FBI investigated this case.
This matter is being prosecuted by Assistant United States Attorney Valerie L. Makarewicz of the Major Frauds Section.