AUTHORITES RAID CALIFORNIA CASINO FOR MONEY LAUNDERING

CALIFORNIA CASINO

Unlike New York, casinos in California seem to faring differently. Earlier in the week, the U.S. attorney’s office, along with the IRS Criminal Investigation unit, ICE’s Homeland Security Investigations unit and the California DoJ Bureau of Gambling Control raided the Bicycle Hotel and Casino.

Located at Bell Gardens, California, the casino, which features 185 poker tables, was closed down on Tuesday morning and all players present were requested to leave by the authorities. Speculation is that the raid was under suspicion of the 33-year old casino indulging in money-laundering.

The casino authorities later tried to calm the matter saying, “We are working with authorities and currently do not have additional information. As soon as the federal agents have completed their work, we will be in full operation.”

Previously too, the casino was held up by the government in a $12 million drug money laundering scam. At that point, the government took a 30% partnership in the property and later sold the stake after minting millions in profits.

The operation took all day, and thousands of financial records were taken during the raid, which was spearheaded by members of the Los Angeles High Intensity Financial Crime Area Task Force. The focus of the investigation is on individuals who bring laundered funds to the casino, place bets with the tainted money, and cash in their chips for clean money, the Times reports.