Normandie Casino Pleads Guilty to Violating Federal Anti-Money Laundering Legislation
Normandie Casino in Gardena, California decided on Friday to plead accountable to beatingonlinecasino.info breaking the federal Bank Secrecy Act and neglecting to report big transactions of money that happened in 2013 to federal authorities.
Under its plea agreement with prosecutors, the gambling location will have to pay $1 million in federal fines and also to forfeit the total amount of $1.4 million, which it received in 2013 after it had failed to submit Currency Transaction Reports as required by federal guidelines.
Normandie Casino officials also admitted that the anti-money laundering measures during the venue have already been quite bad. Under federal laws and regulations, gambling halls are required to record important information that is personal customers that money out winnings greater than $10,000.
It seems that casino employees have aided rich players by splitting up bigger earnings into smaller amounts or by composing ‘independent video gaming promoters’ on reports to the U.S. Treasury rather than the said players’ real names.
Normandie Casino had been additionally accused of neglecting to monitor precisely large cash deals that might have been considered efforts for money laundering. For instance, the location would not record the information that is necessary a gambling client who built-up more than $1 million in winnings in the span of six days.
Commenting on the instance, Mark Werksman, lawyer 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. Continue reading