Burtnick, a 41-year-old from Vancouver, Canada, could face up to 15 years in prison.
Burtnick admitted to deceiving banks in order to circumvent the Unlawful Internet Gaming Enforcement Act and facilitate payments between American poker players and Full Tilt Poker.
He went on to say that the deception was necessary because the banks would have refused to process online gambling payments post-UIGEA.
Burtnick Knew What He Did Was Wrong
Prosecutors allege that the crimes took place between 2006 and 2011 while Burtnick worked for PokerStars and later Full Tilt Poker.
“We had to do this type of deception to enable U.S. poker players to load their accounts with funds,” Burtnick said in court. “I know that what I did was wrong.”
Burtnick will face sentencing by US District Judge Lewis Kaplan on December 19.
The plea agreement calls for Burtnick to forfeit all money generated by the crimes and pay restitution in an amount to be determined.
Burtnick was one of almost a dozen individuals charged by the US Department of Justice on April 15, 2011. A number of those individuals have already pled guilty.