Griffin III, the casino’s attorney, said the company acknowledged it had made a mistake and set everything into motion to amend its fillings and was committed “to ensuring that all of its compliance and reporting programs are strictly followed and updated as the laws and regulations require”.

Last week, the casino reached a non prosecution agreement with the Department of Justice, under which it will pay a $500,000 fine and revamp its anti-money-laundering protocols.Īccording to Market Watch, Johnny L. Prosecutors also say the casino violated the law by filing the forms in the name of the gambler's assistant. Frequently, the man’s assistant would exchange millions in cash for chips, with the player cashing in and out approximately $100 million during the course of his gambling spree.

When patrons buy over $10,000 in chips using cash, a casino is required to file a currency-transaction report and a suspicious-activity report with the Department of Treasury.įederal prosecutors say the gambler made over 100 visits to the casino over eight months in 2016, often arriving with duffle bags full of cash to bet on marathon sessions of the high-stakes card games. The casino went under investigation after it failed to report back to the Department of Treasury, violating the law that stipulates any casino is required to file a currency-transaction report and a suspicious-activity report.īicycle Hotel & Casino, a Los Angeles County property located in Bell Gardens, was heavily fined for failing to alert financial regulators and the Internal Revenue Service when a “high roller” walked in with $100 million in cash to bet on games of baccarat. In 2016, and over the course of eight months, a 'high roller' made over 100 visits to the Bell Gardens casino and exchanged millions in cash for chips.

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