Cantor Gaming's Mike Colbert was arrested

[19th Hole]

Cantor Gaming's Mike Colbert was arrested at 6 a.m. PT on 8 counts of enterprise corruption, money laundering and conspiracy.

[A4K]

Cantor Gaming's Mike Colbert was arrested at 6 a.m. PT on 8 counts of enterprise corruption, money laundering and conspiracy.

Where and by which DOJ agency?

[Joe Dogs]

Mike Colbert arrested?

Just heard Mike Colbert of cantor gaming was arrested.

Can anyone confirm?

[Vegas39]

Supposedly on a warrant from Queens, NY

[DudleyDawson]

yes

[CanuckG]

http://www.lvrj.com/business/sports-book-director-for-cantor-gaming-arrested-175670521.html

[jgilmartin]

From Las Vegas Review-Journal:

http://www.lvrj.com/business/sports-book-director-for-cantor-gaming-arrested-175670521.html

Mike Colbert, sports book director for Cantor Gaming and manager of the M Resort's race and sports book, was arrested Wednesday by state gaming agents in conjunction with a warrant filed by the District Attorney's office in Queens County, N.Y.


Gaming and legal sources confirmed the charges involve PinnacleSports.com, one of the largest off-shore sports wagering websites. Sources said agents for website were arrested in several cities Wednesday.


New York prosecutors are expected to release more information Thursday.


Colbert, 32, was booked into the Clark County Detention Center on a fugitive charge. He faces eight counts of conspiracy, money laundering and enterprise corruption.


Gaming Control Board Chief of Enforcement Jerry Markling said Colbert was arrested at 6 a.m. at his home. He was one of eight people arrested in Las Vegas in connection with New York charges.


Colbert was the only person arrested with ties to Nevada's gaming industry.


Gaming and legal sources said matter does not involve Cantor Gaming and is unrelated to its business in Las Vegas. The company is cooperating with Nevada gaming authorities and met with officials Wednesday at M Resort.


Cantor Gaming officials declined comment. M Resort president Anthony Marnell III also declined comment.


M Resort is owned by Penn National Gaming.


Cantor Gaming operates the race and sports book for the M Resort and six other Las Vegas sports books.


This is a developing story. Check back for updates.

[patswin]

Wow Pinny got pinched

[Joe Dogs]

He,s in deep shit.

[A4K]

I have to read the charges that are filed, but I find it funny that the U.S. can prosecute people for operating a legal business on foreign soil. I'm surprised the international community has not viewed this as an infringement on other countries sovereignty. What's next? The U.S. prosecuting weed dealers from Amsterdam that sold weed to U.S. citizens while they were vacationing in Holland?

[DudleyDawson]

He,s in deep shit.

Yes.

[pokernut9999]

I have to read the charges that are filed, but I find it funny that the U.S. can prosecute people for operating a legal business on foreign soil. I'm surprised the international community has not viewed this as an infringement on other countries sovereignty. What's next? The U.S. prosecuting weed dealers from Amsterdam that sold weed to U.S. citizens while they were vacationing in Holland?

Money laundering is not legal business .

And having agents handling bets in the US is not legal either.

[GamblerSpirit]

Stay away from Uncle Sam! He wants a hand-out or you're getting robbed!

[Vegas39]

Cantor will cut ties fast

[DudleyDawson]

Stay away from Uncle Sam! He wants a hand-out or you're getting robbed!

I'm amazed you're not the President. Oh wait you're just a kid....run along now, your Mom has your supper ready.

[physed]

This wouldn't of happened if Pinnacle didn't leave the US

[coop]

so what did all of the arrested people do for Pinnacle that got them arrested?

[pokernut9999]

Read the article you bunch of dip shits

[DudleyDawson]

Read the article you bunch of dip shits

90% of this forum could read the article 55 fukking times and still say.....what do they mean. Face it, this forum houses some of the dumbest mothafukkers on the planet.

[MeatWad]

What a bunch of bullshit. Just shows what happens when you have too many pussified nerds (DOJ and law enforcement agencies in general) worrying about what other people are doing. They have to create problems where there are none.

Cantor is one of the few books still around with balls.

[coop]

I still don't understand what an "agent for Pinnacle" entails

[pokernut9999]

I still don't understand what an "agent for Pinnacle" entails

They are the guys that settle up with credit players here in the US , they bet thru Pinnacle and settle up here in the US.

Believe it or not big gamblers bet on credit unlike what you hear on SBR.

[Brooklyn Dick]

http://calvinayre.com/2012/10/24/legal/cantor-gaming-sportsbook-director-arrested-in-sweep-targeting-pinnacle-sports/

[A4K]

Money laundering is not legal business .

And having agents handling bets in the US is not legal either.

I didn't read any of those accusations in the initial article. If those are the charges that are filed, then that is a different matter.

[Bluehorseshoe]

So why was he involved with Pinnacle in anyway, shape or form? Why would the sports director of Cantor be involved with Pinny? The guy does have access to who's playing what.

[A4K]

So why was he involved with Pinnacle in anyway, shape or form? Why would the sports director of Cantor be involved with Pinny? The guy does have access to who's playing what.

Someone on this thread intimated that money laundering was an angle. Maybe he was laying off action at Pinny or vice versa.

[Vegas39]

So why was he involved with Pinnacle in anyway, shape or form? Why would the sports director of Cantor be involved with Pinny? The guy does have access to who's playing what.

Since warrants out of NY guessing it was before he was with Cantor

[Bluehorseshoe]

Someone on this thread intimated that money laundering was an angle. Maybe he was laying off action at Pinny or vice versa.

Then Cantor would be shut down and more people would be arrested. It's a legal company that has to show accounting. How would they get around this?

[A4K]

Then Cantor would be shut down and more people would be arrested. It's a legal company that has to show accounting. How would they get around this?

My understanding is that Cantor has nothing to do with this. Maybe he was laundering money through.

[Bluehorseshoe]

Since warrants out of NY guessing it was before he was with Cantor

Can't be. He's been with Cantor a while and he isn't hard to find. Why didn't they pick him up sooner if it was before Cantor?

This story is going to get good.

[Vegas39]

Can't be. He's been with Cantor a while and he isn't hard to find. Why didn't they pick him up sooner if it was before Cantor? This story is going to get good.

I agree sure more to come

[A4K]

Can't be. He's been with Cantor a while and he isn't hard to find. Why didn't they pick him up sooner if it was before Cantor?

This story is going to get good.

I guarantee someone rolled to save their own @ss!

[Inkwell77]

This is what I imagine happens.....

Mike Colbert is convicted of various things because well lets just say odds are he has broken quite a few laws while at Cantor. The power this guy had was kind of insane.

Cantor cuts ties at the M and with Penn National and moves it's headquarters to the Venetian (or maybe the Palms)

Sports Betting becomes legal in Jersey. Other states follow. Cantor is in many states doing a lot of business.


Many individuals working in many various sports books have broken many laws over the years....... most have not been caught.....
Nevada gaming is a joke.

[Vegas39]

I guarantee someone rolled to save their own @ss!

Agree

[A4K]

This is what I imagine happens.....

Mike Colbert is convicted of various things because well lets just say odds are he has broken quite a few laws while at Cantor. The power this guy had was kind of insane.

Cantor cuts ties at the M and with Penn National and moves it's headquarters to the Venetian (or maybe the Palms)

Sports Betting becomes legal in Jersey. Other states follow. Cantor is in many states doing a lot of business.


Many individuals working in many various sports books have broken many laws over the years....... most have not been caught.....
Nevada gaming is a joke.

It's a power play and Nevada wants all the gaming power. I wish the U.S. would just wake-up and make Nevada the only state you can gamble with. Make it legal for any U.S. resident to open a gambling account in Nevada. Regulate it, take a small fee and move on. penetrate the NFL, NHL, MLB and the NCAA. They are all hypocrites. They openly lobby against legal wagering in other states, but reap huge ratings from degenerates watching the games.