Kategorie-Archiv: online casino poker

Normandie Casino Pleads Guilty to Violating Federal Anti-Money Laundering Legislation

Normandie Casino Pleads Guilty to Violating Federal Anti-Money Laundering Legislation

Normandie Casino in Gardena, California agreed upon Friday to plead responsible to violating the federal Bank Secrecy Act and neglecting to report big transactions of money that occurred in 2013 to federal authorities.

The gambling venue will have to pay $1 million in federal fines and to forfeit the amount of $1.4 million, which it received in 2013 after it had failed to submit Currency Transaction Reports as required by federal laws under its plea agreement with prosecutors.

Normandie Casino officials also admitted that the anti-money laundering measures during the place happen quite poor. Under federal rules, gambling halls are required to record essential information that is personal customers that money out winnings in excess of $10,000.

It seems that casino employees have helped players that are wealthy breaking up bigger profits into smaller amounts or by writing ‚independent gaming promoters‘ on reports to your U.S. Treasury rather than the said players‘ real names.

Normandie Casino had been additionally accused of failing woefully to monitor properly large cash deals that could have been considered attempts for money laundering. For example, the location failed to record the vital information about a gambling client who collected a lot more than $1 million in winnings inside the period of six months.

Commenting on the instance, Mark Werksman, attorney for the casino, said for it to be solved quickly and in a positive manner and for the casino to be able to keep on running its business that it has cooperated with investigators in order. Weiterlesen