WSOP Circuit Champion George Janssen to Plead Guilty in Fraud Case

Michigan poker player and four-time World Series of Poker Circuit (WSOPC) ring winner George Janssen has agreed to plead guilty in a federal financial fraud case, according to recent court filings. The plea hearing is currently scheduled for August 19 after several postponements.

Good to Know

• Janssen faces one count of financial institution fraud, a felony.
• Prosecutors allege the scheme targeted nearly two dozen Midwestern credit unions.
• His 2023 disappearance and alleged kidnapping drew national media attention.

Janssen, a former used car dealership owner from Bad Axe, first made the news in late 2023 when he went missing for weeks before being found on a rural Meade Township road with his wrists bound in zip ties and blood on his body. He claimed he had been held hostage for a month by men who had extorted him for over two years.

But in February, the FBI filed a complaint alleging that Janssen was involved in a years-long scheme to defraud multiple financial institutions. The Department of Justice later charged him on July 17, accusing him of 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, confirms that U.S. District Judge Thomas L. Ludington will decide whether to accept the plea agreement, adjudicate guilt, and impose sentencing.

Alleged Fraudulent Activity

Investigators say Janssen’s operation involved filing millions of dollars in fraudulent auto loan applications, often convincing friends to take out multiple vehicle loans under false pretenses. In November 2023, a COPOCO Credit Union executive alerted the FBI after Janssen deposited about $1.4 million in bad checks to his dealership, Bay Auto Brokers, while simultaneously receiving $1.3 million in valid checks from the credit union.

Just a month earlier, Michigan regulators revoked his license to sell cars for five years after finding he had falsified business documents.

Several acquaintances reportedly approached law enforcement to “clear their name” and claimed they had been duped into participating in the loan scheme.

Janssen’s Poker Career

Despite the criminal case, Janssen’s poker achievements are pretty good. He has four WSOP Circuit rings, including a win at the 2023 WSOP Michigan Circuit Super Series Event #3 – $20,000 NLH 6-Max for $6,281. His largest career score came at the MSPT Venetian $1,600 Main Event in September 2023, where he took home $82,823. The Hendon Mob has him at career earnings totaling $453,542.

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