Moola Zoola Criminal Trial Postponed (Again)
Federal District Court Judge Michael H. Schneider has again postponed the trial of Robert Arbuckle, who is accused of using his prepaid debit card company Moola Zoola to commit fraud and launder money. The trial had been scheduled to start last fall and then was rescheduled for March 19th. At the request of both the prosecution and defense, the court has set a new deadline of April 30, 2007 for the parties to reach a plea agreement; otherwise, trial will begin on June 4th. The fact that both sides asked for the extra time suggests that they're trying to work out a deal.
Prosecutors allege that Arbuckle issued Moola Zoola debit cards funded with money acquired through a PayPal scam. Money was moved from Moola Zoola account to Moola Zoola account in order to hide the origin of the funds. Ultimately the money was withdrawn from ATMs in the U.S. and Russia.
The case appears to be the first prosecution of money laundering involving debit cards.
3 comments:
What has happened to this Arbuckle dude? Anyone?
Looking into the case it looks like somebody is out to hang Mr. Arbuckle. It seems like they want to make a show of this man and put everyone on there tip toes. Its too bad.
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