Illegal Gambling Investigation Freezes 12 Bank Accounts

December 29th, 2010 – by Glen Farmer

At least twelve different bank accounts have been frozen by a federal judge due to an ongoing investigation surrounding an allegedly illegal gambling operation. The FBI and the Internal Revenue Service have both been investigating the potentially illegal gambling ring.

In an affidavit filed by the District Court of Guam, the investigation found what is an allegedly illegal poker game that has, for several months, been held at the MGM Spa. The investigation tracked alleged gambling profits to link them to the Overseas Chinese Association Center.

The Overseas Chinese Association Center is a not-for-profit organization that is legally entitled to run bingo games. These bingo games are run under the requirement that the money generated from bingo profits are donated to charitable causes.

In the affidavit, investigators allege that most of the payments were not actually made, and that the nonprofit group’s profits go elsewhere.

“A review of bank records obtained by a grand jury subpoena suggests that Overseas Chinese Association Center is only making sporadic payments in an amount well below what is being reported to the Guam Department of Revenue and Taxation,” stated IRS Special Agent Todd Peterson.

The affidavit goes on to state that the OCAC is allegedly using an account to launder the profits for “personal gain.”

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