- Casino
- Bitcoin Casinos
- Blacklist
- Real Money Casinos
- Reviews
- Strategy Guides
- Sweepstakes Casinos
- US Online Casinos
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Pennsylvania
- Slots
- Free Slots
- 88 Fortune Frenzy
- A Christmas Carol
- Bandits and Bounties
- El Mariachi
- Fire & Steel
- Gifts from Santa
- It Came from Venus
- Legend of Azteca
- Legend of Horus
- Love Beach
- Mafia Family
- Ogre Empire
- Once Upon a Time
- Project Space
- Riches in the Rough
- Sheriff vs Bandits
- Take the Kingdom
- The Curious Machine
- The Defenders
- The Wild Show
- Viking Voyage
- Wilds of Fortune
- Ancient Slots
- Animal Slots
- Asian Slots
- 15 Dragon Pearls
- Buddha Fortune Hold and Win
- Cai Hong
- Dragon & Phoenix
- Dragon Kings
- Empire of Riches
- Journey to the West
- Lucky Macau
- Make You Rich
- Moon Sisters Hold and Win
- Mr. Macau
- Mythical Creatures
- Oriental Flower
- Prosperous Bloom
- Storm Lords
- Super Rich God Hold and Win
- Thai Blossoms
- Twin Dragons
- Classic Slots
- Food Slots
- Gold Slots
- Horror Slots
- Jungle Slots
- Magic Slots
- Sports Slots
- Slot Developers
- Free Slots
- Poker
- Sports
- Esports
November 8, 2021
2 min read
likes:
Bicycle Hotel & Casino Settles $500K Agreement with DOJ
The US Department of Justice (DoJ) has settled a $500,000 non-prosecution agreement with the operators of the Bicycle Hotel & Casino in Bell Gardens. The move has to do with violations of the Bank Secrecy Act, DoJ said in a Friday release.
The casino admitted to having failed to file reports for a Chinese patron who spent millions at the property in 2016, the Department explained. Because of this, Bicycle Casino has been found in breach of compliance procedures relating to federal AML rules.
The settlement with the Department comes on top of a number of other initiatives launched by the casino, including a commitment to improving the overall AML mechanisms that the casino uses to vet patrons and meet federal guidelines in the matter.
DoJ said that the case pertained to a Chinese national who had gambled at the casino over 100 times in 2016 and spent millions. While the person in question remained anonymous, he had played high-limit baccarat in the property’s VIP room and transported the money to and from the casino in duffel bags.
Big Money Changing Hands at Bicycle Casino
In one instance, the player clocked in $2 million in a single game session it seemed. The session took place between 2:45 pm on one day until 1:20 am in the morning on the next, federal authorities discovered. Authorities got suspicious because the money was filed under the unnamed individual’s assistant who registered $100 million in cash transactions to his name rather than filing them to the high roller’s name.
The sessions, which started on January 7, 2016, went on through July 27, 2016. The casino failed to flag the overall high roller activity under the Suspicious Activity Reports for Casinos (SARCS). However, in the end, was casino staff informed senior management on time so that the property sought to remedy the situation by filing the correct paperwork.
The development led to the federal authorities becoming involved which resulted in a $500,000 settlement that is tied to a non-prosecution agreement.
Luke is a media graduate who is looking to build upon his experiences from his strong love of sports betting and casino games which started during his first year of college. His fresh mindset always brings new content ideas to the team and his editorial skills will continue to grow with the help of the upper management team at GamblingNews.com.
