Captured Poker Player Facing Charges for Fraud Admits Guilt in Court
George Janssen, a well-known figure in the poker world with four World Series of Poker Circuit (WSOPC) rings and over $450,000 in career earnings, has agreed to enter a guilty plea in a federal financial institution fraud case[2][3]. The charges against Janssen allege that he defrauded nearly two dozen Midwestern credit unions through fraudulent auto loans and bad checks spanning from June 2016 to October 2023[1][2][4][5].
The scheme, as outlined by the Federal Bureau of Investigation (FBI), involved Janssen convincing friends and associates to take out vehicle loans under false pretenses, with the proceeds benefiting his now-defunct used car dealership, Bay Auto Brokers[2]. In a dramatic turn of events, Janssen went missing for several weeks in late 2023 and claimed to have been regularly giving "large amounts of cash" to men who had extorted him for more than two years[1].
One of the key incidents occurred in November 2023, when Janssen deposited about $1.4 million in bad checks to COPOCO Credit Union while simultaneously receiving $1.3 million in valid checks from the same institution[2]. This action led a COPOCO Credit Union executive to contact the FBI, reporting the deposited checks as being returned with insufficient funds[1].
Michigan regulators revoked Janssen's car dealer license a month before his disappearance in late 2023 due to falsifying business records[2][5]. Janssen signed a consent to plead guilty on July 18, 2025, with a plea hearing held on August 19, 2025, where the US District Judge will decide whether to accept the plea and impose sentencing[2][1].
If found guilty, Janssen could face up to 30 years in prison and fines up to $1 million[3]. His legal troubles have overshadowed his poker career, which includes four WSOPC rings and over $450,000 in career earnings[2][3]. As of August 2025, Janssen is proceeding with a guilty plea in the federal fraud case, and sentencing awaits judicial decision[1][2][3].
Janssen's attorney, Keith E. Corbett of Corbett & Kozar, did not immediately respond to a request for comment. The plea hearing was initially scheduled before a U.S. Magistrate Judge on July 18, a day after Janssen was formally charged[2]. However, the hearing has been pushed back several times, most recently being canceled on Aug. 11[1].
The U.S. Department of Justice (DOJ) charged Janssen on July 17 with one count of financial institution fraud, a felony[1]. Multiple friends of Janssen approached law enforcement "to clear their name and express concern they had been defrauded by Janssen"[1]. The consent to enter a guilty plea, signed by Janssen, states that if accepted, Judge Thomas L. Ludington will decide whether to accept or reject any Rule 11 Plea agreement and will adjudicate guilt and impose sentence[2].
Notably, Connor Richards, a Senior Editor U.S. for PokerNews and host of the Life Outside Poker podcast, has been nominated for three Global Poker Awards for his writing[1]. The case of George Janssen serves as a stark reminder of the consequences of fraudulent activities and the importance of financial integrity.
[1] MLive.com [2] Detroit Free Press [3] PokerNews [4] WSOP.com [5] Michigan Department of Licensing and Regulatory Affairs
The news of George Janssen's guilty plea in a federal financial institution fraud case has overshadowed his successful poker career, which includes four World Series of Poker Circuit (WSOPC) rings and over $450,000 in earnings. Despite this, the case highlights the importance of financial integrity, as Janssen allegedly defrauded nearly two dozen Midwestern credit unions through fraudulent auto loans and bad checks. Surprisingly, the case also involves a used car dealership, Bay Auto Brokers, and a casino-and-gambling connection, as Janssen went missing for several weeks in late 2023, claiming to have given "large amounts of cash" to men, an incident often associated with crime-and-justice news.
