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  #1  
Old April 28th, 2011, 07:50 PM
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zengrifter zengrifter is offline
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Default Casinos as Massive Money Laundering Centers

Here's some of what I know is going on at a huge scale.
THIS means YOU, Mr. Trump! zg
-------------
Casinos as Money Laundering Centers

The future will see virtual casinos and, logically, virtual money laundering. For example, Las Vegas- based Alliance Gaming Corporation, which recently acquired Bally Gaming International, wants to establish a dominant role in Internet gaming. It clearly has all the right ingredients. First is Internet expertise. Alliance Gaming's Vice Chairman, Craig Fields, was formerly the Director of the Defense Advanced Research Projects Agency (DARPA), which created the Internet. Second is gambling expertise. Bally, and by reflection Alliance, is a household name to the average gambler. Third, well . . . According to some Nevada law enforcement officials I've spoken to, Alliance Gaming currently launders money for the CIA. That should give Alliance the experience it needs to expand the concept to cyberspace.
-- J. Orlin Grabbe (2001)
----------------------
Tough-guy casino owner and Likud backer, Steve Wynn started in Las Vegas in 1967, with a small interest in the Frontier Hotel casino, then controlled by the Detroit mob. He later took control of the Golden Nugget. In 1980, with financial backing from Drexel Burnham Lambert, Wynn built the Golden Nugget casino in Atlantic City, where Meyer Lansky's Resorts International had opened the first casino in 1978. Wynn sold the Atlantic City casino and took more from Milken's Drexel to build the massive Mirage in Las Vegas, which opened in 1989. Drexel also funded other casinos, pumping billions of hot dollars into Vegas as part of Dope, Inc.'s transformation of its money laundering center from a city run by the old-style Mob, into a resort center with the organized crime activities hidden behind slick corporate fronts.
-- Dope Inc. (1993 revised)

MORE- http://www.zenzoneforum.com/threads/...dering-Centers
  #2  
Old October 25th, 2011, 12:12 AM
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This deserves a little traction.
  #3  
Old October 25th, 2011, 06:11 PM
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Agreed.
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Old October 25th, 2011, 07:35 PM
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Quote:
Originally Posted by zengrifter View Post
Here's some of what I know is going on at a huge scale.
THIS means YOU, Mr. Trump! zg
-------------
Casinos as Money Laundering Centers

The future will see virtual casinos and, logically, virtual money laundering. For example, Las Vegas- based Alliance Gaming Corporation, which recently acquired Bally Gaming International, wants to establish a dominant role in Internet gaming. It clearly has all the right ingredients. First is Internet expertise. Alliance Gaming's Vice Chairman, Craig Fields, was formerly the Director of the Defense Advanced Research Projects Agency (DARPA), which created the Internet. Second is gambling expertise. Bally, and by reflection Alliance, is a household name to the average gambler. Third, well . . . According to some Nevada law enforcement officials I've spoken to, Alliance Gaming currently launders money for the CIA. That should give Alliance the experience it needs to expand the concept to cyberspace.
-- J. Orlin Grabbe (2001)
----------------------
Tough-guy casino owner and Likud backer, Steve Wynn started in Las Vegas in 1967, with a small interest in the Frontier Hotel casino, then controlled by the Detroit mob. He later took control of the Golden Nugget. In 1980, with financial backing from Drexel Burnham Lambert, Wynn built the Golden Nugget casino in Atlantic City, where Meyer Lansky's Resorts International had opened the first casino in 1978. Wynn sold the Atlantic City casino and took more from Milken's Drexel to build the massive Mirage in Las Vegas, which opened in 1989. Drexel also funded other casinos, pumping billions of hot dollars into Vegas as part of Dope, Inc.'s transformation of its money laundering center from a city run by the old-style Mob, into a resort center with the organized crime activities hidden behind slick corporate fronts.
-- Dope Inc. (1993 revised)

MORE- http://www.zenzoneforum.com/threads/...dering-Centers
So, in simple words, how does the money laundering work and how are they able to do so without SEC, Treasury, or other Federal agency able to detect and prosecute?
  #5  
Old October 25th, 2011, 07:55 PM
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So, in simple words, how does the money laundering work and how are they able to do so without SEC, Treasury, or other Federal agency able to detect and prosecute?
Deposit money into the site, withdrawal different money.
  #6  
Old October 25th, 2011, 08:00 PM
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Originally Posted by Dyepaintball12 View Post
Deposit money into the site, withdrawal different money.
haha I need it a bit more complex than that. As a money laundering apparatus, it constitutes an illegal activity. It should not be all that difficult for government auditors to see through transactions to the substance of what is going on, if in fact, crime money is being funneled into these corporations. I'm wondering why they can write articles on it, yet the government seems oblivious to it. If the government is complicit in it, then the laundering is not needed in the first place-- just put it in the bank. I figured zg might know the nitty gritty.
  #7  
Old October 25th, 2011, 09:21 PM
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So, in simple words, how does the money laundering work and how are they able to do so without SEC, Treasury, or other Federal agency able to detect and prosecute?
Best kept secret of the legal casino industry - dirty money fed INTO the counting rooms becomes laundered revenues. zg
  #8  
Old October 25th, 2011, 10:16 PM
shadroch shadroch is offline
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Originally Posted by zengrifter View Post
Best kept secret of the legal casino industry - dirty money fed INTO the counting rooms becomes laundered revenues. zg
Here is the real dirty secret- casinos used to offer better games because they didn't give a fig about the floor results. They were laundering so much cash that it wasn't an issue. Now that the well has dried up, money has to come from the games and entertainment.
  #9  
Old October 26th, 2011, 02:01 AM
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It's easy to launder money through a casino. Buy in for a lot, play a low house edge game like blackjack or craps, then cash out. If asked about the source of the money, you won it gambling.
  #10  
Old October 26th, 2011, 09:51 AM
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Originally Posted by zengrifter View Post
Best kept secret of the legal casino industry - dirty money fed INTO the counting rooms becomes laundered revenues. zg
Now that is a very effective way to launder money, and nearly impossible to catch. Only a trusted few are permitted in the counting room, and it does not take the entire room to introduce the "dirty" money, and of course, no money is laundered while auditors are present. Yes, that's a ticket that is near impossible to detect. Two things an auditor might look for are: (1) does the casino show profits higher than other casinos in the same area and of the same ilk, without any ostensible reason-- better access, nicer atmosphere, appeal to high rollers, etc., and (2) is the casino largely owned by corporations in turn owned by, or likely owned by, organized crime, and also by individuals with mob ties. If the money cannot be funneled back to the mobs' waiting hands, it does little good to launder it in this manner.

Your answer is plausible. Of course, it would not be wise to repeat this if you have insider information, so I assume there are already published stories on the subject.
 

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