Normandie Casino owners have been forced to pay US$2.4 million for violating Bank Secrecy Act.
US.- Normandie Casino owners have been ordered to pay a US$2.4 million penalty for violating Bank Secrecy Act. The Normandie Casino was owned by the Miller family since 1947.
Back in January, the owners of California’s oldest card club pled guilty to violating the Bank Secrecy Act and admitted to hiring independent gaming promoters to attract high-rollers. The casino also confessed to deliberately failing to file the proper transaction reports.
United States District Judge James Otero ordered the Millers to pay US$500,000 for each of the two counts of failing to report large cash transactions and maintain an effective anti-money laundering program. In addition, Otero ordered the Normandie Casino to forfeit US$1,383,530, which represents numerous unreported transactions in 2013.
“Our money laundering laws were enacted to prevent criminals from concealing the source of large sums of cash generated by illegal activity,” said Eileen Decker United States Attorney said in a statement. “Casinos and cardrooms such as Normandie are cash-intensive businesses that are particularly attractive for use by criminals seeking to launder their ill-gotten gains, so they must be vigilant in meeting their obligations under those laws.”