The U.S. Attorney’s Office for the District of Colorado announced on Tuesday that Jonathan Arvay, a 38-year-old Denver resident, has been convicted of conducting and conspiring to run an illegal gambling business. A federal jury found Arvay guilty on both counts. His operation involved a network of illegal gambling parlors throughout Colorado.

During the trial, it was revealed that Arvay ran Player One Arcade in Denver, one of several gambling parlors in cities from Greeley to Pueblo. These parlors used electronic games designed to resemble arcade games and virtual slot machines, allowing customers to earn credits. The announcement details:

Upon completing their game of choice, customers would exchange any credits won for a purported cryptocurrency, Obsidian Digital Asset Coin (ODAC), whose only function was to be exchanged for cash at an ATM-like ‘cryptocurrency teller machine’ next door to or within the gambling parlor.

FBI Denver Special Agent in Charge Mark Michalek explained that the defendants’ gambling operations were extensive and involved fraud and money laundering. Acting U.S. Attorney Matt Kirsch called these parlors gambling dens with a “veneer of legitimacy.” The Attorney’s Office noted:

Customers were required to pay a transaction fee to exchange the ODAC for U.S. currency.

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