Sports book firm to pay $22M in penalties in gambling probe

October 4, 2016

Authorities in New York say one of the nation's largest race and sports book operators has agreed to pay $22.5 million in penalties and forfeiture to resolve criminal and civil investigations.

Federal prosecutors in Brooklyn announced the non-prosecution agreement Monday for CG Technology LP, formerly known as Cantor Gambling. The Department of the Treasury's Financial Crimes Enforcement Network announced separate civil penalties.

Prosecutors say the deal resolves a probe into the company's past involvement in and money laundering schemes.

Brooklyn U.S. Attorney Robert Capers says the Las Vegas-based company agreed to cooperate and take remedial measures.

Las Vegas U.S. Attorney Daniel Bogden says CG Technology admitted violating law by accepting messenger betting, accepting out-of-state betting and laundering money.

A company spokeswoman has declined to comment.

Explore further: Cantor Gaming changing its name to CG Technology

Related Stories

Four Canadians indicted on US gambling charges

February 28, 2012

US authorities seized the gambling website Bodog on Tuesday and announced the indictment of four Canadians on charges of illegal sports betting and money laundering, including founder Calvin Ayre.

BetOnSports fined $28 million, gets probation

December 2, 2009

(AP) -- Defunct online gambling site BetOnSports.com has been sentenced to probation and a $28.2 million fine that lawyers on both sides say probably will never be paid.

Recommended for you

Galactic center visualization delivers star power

March 21, 2019

Want to take a trip to the center of the Milky Way? Check out a new immersive, ultra-high-definition visualization. This 360-movie offers an unparalleled opportunity to look around the center of the galaxy, from the vantage ...

Ultra-sharp images make old stars look absolutely marvelous

March 21, 2019

Using high-resolution adaptive optics imaging from the Gemini Observatory, astronomers have uncovered one of the oldest star clusters in the Milky Way Galaxy. The remarkably sharp image looks back into the early history of ...

When more women make decisions, the environment wins

March 21, 2019

When more women are involved in group decisions about land management, the group conserves more—particularly when offered financial incentives to do so, according to a new University of Colorado Boulder study published ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.