LA-area casino settles money laundering case for $500,000
LOS ANGELES (AP) — A Los Angeles-area casino will pay $500,000 to settle allegations that it violated anti-money laundering laws by failing to properly file reports about a Chinese player who spent millions in cash. The U.S. attorney’s office on Friday announced an agreement with the Bicycle Hotel & Casino in Bell Gardens. Authorities won’t bring any criminal case against the casino for alleged violations of the Bank Secrecy Act. Under the agreement, the casino acknowledged failing to properly report activities of a Chinese national who gambled at the casino in 2016. Prosecutors say he gambled with huge sums of money that were sometimes carried in duffle bags.
