GoBabyGo
07-04-2007, 11:32 PM
from NY report
Churchill Downs has commercial arrangements with various offshore rebate shops and simulcasting services, including the Tonkawa Indian Reservation
from federal press release
FinCEN Assesses $2.5 Million in Civil Money Penalties Against Edward E. Street and the Tonkawa Tribe of Oklahoma
The Financial Crimes Enforcement Network (FinCEN) announced today that Edward E. Street and the Tonkawa Tribe of Oklahoma consented to the assessment of civil money penalties, in the amounts of $1.5 million and $1 million, respectively. The actions represent the first enforcement actions against an individual and a tribe for violations under the casino provisions of the Bank Secrecy Act (BSA).
FinCEN determined that Tonkawa Bingo and Casino committed extensive violations of the BSA and its implementing regulations by failing to develop and implement a BSA/anti-money laundering program, failing to report suspicious transactions and transactions in currency, structuring currency transactions, failing to create and retain certain records, and failing to properly identify customers. Edward E. Street, who directed and oversaw the day-to-day operations of the casino, failed to apply any measurable efforts to implement policies, procedures or internal controls for BSA compliance, and failed in every respect to satisfy any BSA requirements. Furthermore, the Tonkawa Tribal Gaming Commission undertook no measures to ensure that the casino had adopted and implemented a reasonably-designed, written program for compliance with the Bank Secrecy Act.
“This enforcement action reinforces our message to all financial institutions about the importance of having effective anti-money laundering programs,” said Robert W. Werner, Director of the Financial Crimes Enforcement Network. “This case involved the absence of an adequate anti-money laundering program, the use of fictitious social security numbers for customer identification, an unreported deposit of $300,000 in cash from a duffel bag, and other suspicious transactions. The facts of this case demonstrate the egregious nature of compliance failures at the casino.”
FinCEN acknowledges the assistance of the Internal Revenue Service’s Small Business/Self-Employed Division, as the delegated examiners of casinos for BSA compliance, in its investigation.
from ny report
Churchill Downs also does business with another rebate shop named in the Uvari Indictment and originally part of the NYRA Ten: Lakes Region Greyhound Park (Lodge at Belmont).
from nh newspaper
Belmont: The scheduled Jan. 1, 2006 reopening of Lakes Region Greyhound Park under new ownership was delayed for several months pending the submission, approval and review of a state gaming license. Marlin Torguson, a principal of Belmont Gaming LLC, the corporate entity that bought the track in September 2005 for $4.1 million, was unable to submit the application for a gaming license until mid-December. The application must be reviewed by the New Hampshire Pari-Mutual Commission and the New Hampshire Attorney General’s Office, a process that could take up to 90 days.
Background: Lakes Region closed in April 2005 after two of its executives, one of whom was the nephew of Al Hart, the track’s principal owner, were indicted on federal money laundering charges. The track’s owners subsequently surrendered their gaming license and put the track up for sale. Two months later, federal authorities broke up a drug-trafficking and money-laundering ring that allegedly operated from the racetrack.
Update: Richard Hart, the former manager of Lakes Region Greyhound Park, pleaded guilty in U.S. District Court April 6, according to a spokeswoman for the federal attorney’s office. No further details of his plea were available. Hart and assistant manager Jonathan Broome, were charged along with 15 others in what prosecutors said was a $200 million, five-state illegal gambling network that had ties to the Gambino crime family. Both men were charged with one count each of fraud, illegal gambling, racketeering, and money laundering. Court records show Broome pleaded guilty last fall to one charge.
Churchill Downs has commercial arrangements with various offshore rebate shops and simulcasting services, including the Tonkawa Indian Reservation
from federal press release
FinCEN Assesses $2.5 Million in Civil Money Penalties Against Edward E. Street and the Tonkawa Tribe of Oklahoma
The Financial Crimes Enforcement Network (FinCEN) announced today that Edward E. Street and the Tonkawa Tribe of Oklahoma consented to the assessment of civil money penalties, in the amounts of $1.5 million and $1 million, respectively. The actions represent the first enforcement actions against an individual and a tribe for violations under the casino provisions of the Bank Secrecy Act (BSA).
FinCEN determined that Tonkawa Bingo and Casino committed extensive violations of the BSA and its implementing regulations by failing to develop and implement a BSA/anti-money laundering program, failing to report suspicious transactions and transactions in currency, structuring currency transactions, failing to create and retain certain records, and failing to properly identify customers. Edward E. Street, who directed and oversaw the day-to-day operations of the casino, failed to apply any measurable efforts to implement policies, procedures or internal controls for BSA compliance, and failed in every respect to satisfy any BSA requirements. Furthermore, the Tonkawa Tribal Gaming Commission undertook no measures to ensure that the casino had adopted and implemented a reasonably-designed, written program for compliance with the Bank Secrecy Act.
“This enforcement action reinforces our message to all financial institutions about the importance of having effective anti-money laundering programs,” said Robert W. Werner, Director of the Financial Crimes Enforcement Network. “This case involved the absence of an adequate anti-money laundering program, the use of fictitious social security numbers for customer identification, an unreported deposit of $300,000 in cash from a duffel bag, and other suspicious transactions. The facts of this case demonstrate the egregious nature of compliance failures at the casino.”
FinCEN acknowledges the assistance of the Internal Revenue Service’s Small Business/Self-Employed Division, as the delegated examiners of casinos for BSA compliance, in its investigation.
from ny report
Churchill Downs also does business with another rebate shop named in the Uvari Indictment and originally part of the NYRA Ten: Lakes Region Greyhound Park (Lodge at Belmont).
from nh newspaper
Belmont: The scheduled Jan. 1, 2006 reopening of Lakes Region Greyhound Park under new ownership was delayed for several months pending the submission, approval and review of a state gaming license. Marlin Torguson, a principal of Belmont Gaming LLC, the corporate entity that bought the track in September 2005 for $4.1 million, was unable to submit the application for a gaming license until mid-December. The application must be reviewed by the New Hampshire Pari-Mutual Commission and the New Hampshire Attorney General’s Office, a process that could take up to 90 days.
Background: Lakes Region closed in April 2005 after two of its executives, one of whom was the nephew of Al Hart, the track’s principal owner, were indicted on federal money laundering charges. The track’s owners subsequently surrendered their gaming license and put the track up for sale. Two months later, federal authorities broke up a drug-trafficking and money-laundering ring that allegedly operated from the racetrack.
Update: Richard Hart, the former manager of Lakes Region Greyhound Park, pleaded guilty in U.S. District Court April 6, according to a spokeswoman for the federal attorney’s office. No further details of his plea were available. Hart and assistant manager Jonathan Broome, were charged along with 15 others in what prosecutors said was a $200 million, five-state illegal gambling network that had ties to the Gambino crime family. Both men were charged with one count each of fraud, illegal gambling, racketeering, and money laundering. Court records show Broome pleaded guilty last fall to one charge.