Peter Jepsen guilty in online poker cheating scam

European Poker Liquidity Framework Signing on July 6th

Danish high-stakes poker pro Peter Jepsen was found guilty of computer-based theft in a Copenhagen court last week.

The charges against Jepsen stemmed from an online poker cheating scam he ran against other high-stake poker pros that netted him at least $4 million.

Jepsen, who played online using the screen name Zupp, began running his scam in 2008. With the help of three accomplices, two men and a woman who testified against him at his trial, Jepsen secretly installed malware onto the computers of other high-stakes poker pros.

This was mostly done at European Poker Tour events where Jepsen and his accomplices secretly gained access to opponents’ computers. The malware allowed Jepsen to see his opponents hole cards, giving him an unbeatable advantage.

Some of his opponents eventually caught on that something wasn’t right. After receiving numerous complaints Danish authorities launched an investigation which led to Jepsen’s trial. Five years has passed since the beginning of the investigation and the verdict being received last week.

After being found guilty of computer-based theft Jepsen was sentenced to four years in prison and he also received a €3.5 million ($3.8 million US) fine. His four-year jail sentence was reduced by six months due to what was considered to by an overly long trial.

Along with the fine the Danish government will confiscate $3.9 million from Jepsen to try and compensate the players he stole from. It remains to be seen if this money even exists to take from Jepsen, and according to reports, so far only €107,000 has been returned to a confirmed victim of Jepsen’s scam.

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Jepsen has appealed his convicted which could also slow down any remittance that may be coming to some of his other victims.

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