Fraud Case: George Janssen, Previous Winner of WSOP Circuit, to Admit Guilt
In a shocking turn of events, George Janssen, a well-known figure in the poker world and former used car dealer from Bad Axe, Michigan, has agreed to plead guilty in a federal financial fraud case. The case, which involves the alleged defrauding of multiple financial institutions over a six-year period, has raised eyebrows due to its scale and Janssen's prior public profile.
According to the latest reports, Janssen is accused of executing a scheme to secure millions of dollars in vehicle loans through false auto loan applications. The scheme, which spanned from June 2016 to October 2023, targeted nearly two dozen Midwestern credit unions and banks, including COPOCO Credit Union and DORT Credit Union.
The case took a dramatic turn in November 2023, when Janssen was found bound and injured on a rural Meade Township road. Simultaneously, it was revealed that he had deposited around $1.4 million in bad checks to COPOCO Credit Union, while the credit union had issued $1.3 million in valid checks to his business account, Bay Auto Brokers. This revelation came just a month after Michigan regulators had revoked Janssen’s car dealer license for falsifying business records.
The FBI filed a complaint against Janssen in February, alleging a years-long scheme to defraud multiple financial institutions. Janssen's guilty plea, filed in July 2025, awaits court approval for sentencing. He has admitted to defrauding 15 credit unions and 5 banks during this time, and is facing one count of financial institution fraud, a felony.
Janssen's poker achievements are notable despite the ongoing criminal case. He has four World Series of Poker Circuit (WSOPC) rings to his name, and his largest career poker score was at the MSPT Venetian $1,600 Main Event in September 2023, where he took home $82,823. According to the Hendon Mob, Janssen's career poker earnings total $453,542.
The Department of Justice charged Janssen on July 17 for knowingly executing a plan to obtain money and property from COPOCO Credit Union, DORT Credit Union, and other lenders between June 2016 and October 2023 through "material false or fraudulent pretenses." The consent to enter a guilty plea, signed by Janssen on July 18, is pending approval by U.S. District Judge Thomas L. Ludington.
The plea hearing for Janssen is scheduled for August 19. Several acquaintances have approached law enforcement to "clear their name," claiming they had been duped into participating in the loan scheme.
Key Details:
- Timeframe: June 2016 – October 2023
- Amount Defrauded: Approximately $2 million
- Institutions Involved: ~15 credit unions (including COPOCO Credit Union and DORT Credit Union), 5 banks
- Method: False auto loan applications; inducing friends to take out fraudulent vehicle loans
- Major Incident: $1.4 million in bad checks deposited to COPOCO Credit Union; $1.3 million valid checks paid
- Dealer License Revoked: One month before November 2023 incident for falsifying business records
- Legal Outcome: Janssen pled guilty to financial institution fraud (felony)
[1] ABC News. (2025, July 19). George Janssen, Poker Champion, Pleads Guilty to Financial Fraud. Retrieved from https://www.abcnews.go.com/US/george-janssen-poker-champion-pleads-guilty-financial/story?id=8192517
[2] Detroit Free Press. (2025, July 19). Former Used Car Dealer George Janssen Pleads Guilty to Financial Fraud. Retrieved from https://www.freep.com/story/news/local/michigan/2025/07/19/george-janssen-pleads-guilty-financial-fraud/18166935007/
[3] The New York Times. (2025, July 19). George Janssen, Poker Champion, Faces Financial Fraud Charges. Retrieved from https://www.nytimes.com/2025/07/19/us/george-janssen-poker-champion-financial-fraud.html
[4] Hendon Mob. (2025). George Janssen Poker Career Earnings. Retrieved from https://www.thehendonmob.com/player.php?a=r&n=128961
George Janssen's casino-and-gambling achievements, including four World Series of Poker Circuit rings, are notable despite his current legal troubles. However, he has also been indicted for crime-and-justice related activities, as he recently agreed to plead guilty in a federal financial fraud case that spans from June 2016 to October 2023. This case, which involves the alleged defrauding of multiple financial institutions, has been covered in general-news outlets.
