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Money Laundering Conspiracy Uncovered

The Asian online casino gambling industry may not be in full effect right now because of the restrictive Asian governments, but that hasn’t stopped two Chinese individuals from developing a scheme to make launder money through the land gambling industry. The United States Attorney General’s office has released information that indicates that the former managers of the Bank of China have been arrested in the U.S. for a slew of criminal charges that related to racketeering and money laundering through the land casinos. Additional charges stem from passport and immigration fraud – all and all some very serious charges that will have some serious consequences if they are found guilty.

The specifics of the case indicate that the two former Bank of China managers defrauded the bank of more than $485 million by laundering the money through Las Vegas land casinos. The two individuals were assisted by their wives and once they had finished with the criminal laundering activities they falsified documents, immigrated to the U.S., married U.S. citizens as a way to become naturalized citizens, and planned to carry on with their charade. But the Attorney Generals office uncovered the criminal activity that was funneled through the U.S Las Vegas land and online casinos and arrested those involved in the case.

The Chinese government has been very hesitant to expand land and online casino gambling legislation in the country because of the potentially negative effects on society. The recent case though goes to show that no matter how tight the regulations are in place, there is room for improvement.