The Bicycle Casino is including another scandalous chapter to its notorious story. The Southern California cardroom and hotel outside of la in Bell Gardens was raided by federal officials on Tuesday morning, but law enforcement divisions are remaining quiet on the details of the operation.
Governor Jerry Brown (D), left, attended the ribbon cutting of the Bicycle Casino’s hotel expansion in 2015 alongside Bike Managing General Partner and CEO Hashem Minaiy. Two years later, the owners are now actually allegedly entangled in a federal investigation that is financial.
The raid has been carried down by the US Department of Homeland Security, as well as its Immigration and Customs Enforcement (ICE). According to media that are local, the usa Attorney’s Office, IRS, Ca Bureau of Gambling Control, and the Financial Crimes Enforcement Network (FinCEN) are also involved.
ICE spokeswoman Virginia Kice stated, ‘Because the warrant is under seal, we aren’t able to comment regarding the nature or scope of the investigation.’
However, Fox 11 in l . a . says the sting is in response to alleged money allegations that are laundering the casino. All gambling has been shutdown as investigators sweep the Bike, because it’s affectionately known.
Since 1996, FinCEN has required casinos to file Currency Transaction Reports for just about any customer transacting $10,000 or higher in a single day.
Dirty Money Crackdown
While the gove (بیشتر…)
Vegas oddsmakers are welcoming in spring with available hands. The NCAA men’s basketball tournament is providing casino sportsbooks with the perfect elixir after a run of 12 months that was filled with underdogs overcoming long odds.
It’s been more sorrow than celebration for patrons at Las Vegas sportsbooks this March Madness.
Aided by the first week of March Madness in the books, it was the oddsmakers in Nevada that played the winning pay the sports bettors.
With the top-seeded and defending champion Villanova Wildcats out, in addition to No. 2 seeds Duke and Louisville, many brackets and wagers have already been busted. And that’s good news for the household.
Talking with ESPN, Frank Kunovic, director of specialty games for Caesars Entertainment, said, ‘We basically became Caesars Palace federal reserve and had been printing money.’
Vegas was due for a strong follow a 2016 that was filled up with prediction and activities betting chaos. The election of Donald Trump, Leicester City winning the Premier League, the Chicago Cubs winning the planet Series, Cleveland winning the NBA Finals, Clemson upending Alabama in college football, plus the ‘Brexit’ vote kept both domestic and international oddsmakers guessing.
While books in Nevada have largely weathered the storm, the March Madness victory so far is certainly welcomed.
Duke Loss, Vegas Win
The Duke Blue Devils are the Green Bay Packers of college baske (بیشتر…)
In the incident that is latest to affect the controversial resort, the Mohegan Sun Pocono was struck with a $70,000 fine for five separate incidents of underage gambling.
The Mohegan Sun Pocono was fined $70,000 for five separate incidents of underage gambling.
The Pennsylvania Gaming Control Board unanimously authorized the fine during a meeting that is monthly added $2,500 in costs to the penalty.
Casino officials reacted quickly towards the allegations before the judgment was made. They remodeled the facility, reducing the true amount of entrances from 14 to four and narrowed the width making it easier to monitor visitors comings and goings. In addition they fired four workers and retrained other workers on preventing underage gambling and ingesting.
The incidents occurred between and September and involved five people, including three teenagers june.
One was a man that is 20-year-old played a slot machine. He eluded security on that visit but was recognized on an outing that is subsequent.
Another was a 15-year-old girl who is at the slot machines in August. On the next day, a 20-year-old man won $200 playing roulette. The occasion that is final in September whenever a 12-year-old girl and 17-year-old child were on the gaming flooring with their mother.
Latest Troubling News for Resort
This was the time that is ninth Mohegan Sun has finalized a permission agreement because of the ga (بیشتر…)
The united kingdom bookmaking industry has been exempted by the nation’s Treasury through the new Fourth EU cash Laundering Directive, hence escaping the onerous and costly fate of conducting due diligence on every deal of €2,000 (£1,740 / $2,150) and above.
The UK betting industry breathed a collective sigh of relief as it absolutely was exempted from the Fourth EU Money Laundering Directive this week.
The government said the decision had been made after consultation with UK’s National Risk Assessment (NRA), which deemed betting, both online and off, to be low-risk in comparison with other sectors as the industry breathed a heavy sigh of relief. Both land-based and online casinos, however, will never be exempted.
However the government emphasized that the industry must remain diligently committed to it anti-money laundering (AML) duties, or it may just find itself being forced to fill out the EU’s tiresome transaction report forms after all.
Based on the British Gambling Commission, ‘the government has made clear it will regularly review its place in terms of the cash terrorist and laundering financing risk that gambling providers present.’
Being a condition of licensing, gambling operators are currently required to conduct AML assessments of these business and develop and implement stringent AML policies.
The Proceeds of Crime Act 2002, meanwhile, requires operators to continually mo (بیشتر…)