Cantor Fitzgerald fined in the United States

CG Technology, sports betting subsidiary of Cantor Fitzgerald will pay a millionaire fine.

US.- Cantor Fitzgerald’s sports betting subsidiary CG Technology will have to pay US$22.5 million to the US government due to its connection with illegal gambling activities and money laundering investigations.

CG Technology has admitted responsibility of aiding and abetting illegal gambling and money laundering services from the period of 2009-2013 and during the negotiations, Cantor Fitzgerald had pushed for a non-prosecution agreement with the US Government.

The investigation’s results proved that CG properties allowed “messenger bets.” This kind of activity enables an agent to wager for an out of state third party, which is illegal according to Nevada state gambling laws. Cantor had previously fired CG Technology Chief Executive Lee M Amaitis and paid US$1.5 million fine after the investigation.