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 illegal gambling 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.
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