DETROIT— A professional poker player who once shared some wild stories about having been kidnapped, has agreed to plead guilty to fraud in a case involving nearly $4 million in fraudulent loans, including at credit unions, according to court documents.
George Janssen Jr., a former used car dealership owner and four-time World Series of Poker Circuit ring winner, plans to enter the plea following a bizarre saga that began with his disappearance in late 2023. At the time, he told authorities he had been paying large sums of money to men who extorted him for more than two years, Poker News reported.
The FBI later alleged in a February 2025 complaint that Janssen had knowingly carried out a scheme to defraud nearly two-dozen Midwestern financial institutions, including credit unions. Prosecutors with the U.S. Department of Justice charged him July 17 with one count of financial institution fraud, a felony.
The Allegations
According to prosecutors, from June 2016 to October 2023 Janssen fraudulently obtained money from COPOCO Credit Union, DORT Credit Union and other institutions by filing falsified auto loans. Investigators allege that associates of Janssen secured $3.9 million in loans, with nearly $2 million still outstanding. They also accused him of defrauding COPOCO Credit Union of more than $1.3 million, bringing the total owed to about $3.3 million, Poker News reported, citing court documents.
The report noted that the month before his disappearance, Janssen lost his Michigan license to sell cars for five years after falsifying business documents. Court documents show that in November 2023, a COPOCO executive contacted the FBI after the credit union issued him $1.3 million in checks that were deposited in his business account, only to learn that $1.4 million in checks Janssen had deposited were returned for insufficient funds.
Friends Feel Duped
Court records show multiple friends told investigators they believed they were duped by Janssen into taking out vehicle loans on his behalf, Poker News said.
Janssen’s disappearance in November 2024 drew international attention after he resurfaced weeks later claiming he had been kidnapped by a drug cartel and forced to pay $2 million.
Janssen, who has $453,542 in recorded poker earnings, also won the Major Series of Poker: The Tour Venetian Main Event for $82,823 in September 2023, Poker News said.
Consent Deal Signed
Court filings show he signed a consent to plead guilty on July 18, one day after he was charged. His plea hearing has been delayed several times, most recently canceled on Aug. 11. It is now scheduled for Aug. 19 before U.S. District Judge Thomas L. Ludington, who will decide whether to accept the plea agreement and impose sentencing.
