German Banker Accused of Stealing Millions to Fund Gambling Habit

German Banker Accused of Stealing Millions to Fund Gambling Habit

A German banker is component of a new trend of high-dollar gambling thefts

It is nothing new to hear about people stealing money in order to spend it on gambling. Nonetheless, it’s rare that the theft ever gets this big. A 39-year-old bank that is german has been accused of stealing over €8 million ($10.6 million) from customers, which he then spent at casinos over the program of years.

Stole Undetected for Years from Customers

According to the charges, the man works in Buxtehude, a Northern Germany town that is a suburb of Hamburg. No fewer than 156 times over the course of more than three years spanning between 2007 and 2010 the man stole money from customers’ accounts. He also directly took cash which had been directed at him by customers to spend. Based on prosecutors speaking in Stade District Court, the man even faked customer signatures on several occasions in an effort to gain access to their money.

The amounts stolen varied greatly from customer to client. At some times, he took only a couple of hundred euros; in the many dramatic cases, a few hundred thousand euros had been taken out of accounts at the same time.

In total, €8.4 million ($11.1 million) was removed of consumer accounts on the years. That cash was then mostly spent at a casino that is local Hamburg.

According to prosecutors, the unnamed man had already reimbursed €4.5 million ($6 million), though the rest of the cash Continue reading “German Banker Accused of Stealing Millions to Fund Gambling Habit”

Massachusetts Anti-Casino Ballot Question Gets Nixed by State AG

Massachusetts Anti-Casino Ballot Question Gets Nixed by State AG

A citizens’ anti-gambling initiative has been shot down by the State’s Attorney General

While the continuing state of Massachusetts is gearing up for rapid expansion of gambling in the state, not everybody has been excited about the move. This is exactly why some anti-gambling activists there have actually developed a petition in order to force a statewide vote on whether or not the casino jobs would be able to maneuver ahead.

People who are against the casinos that are new able to gather enough signatures to send the ballot question forward to the lawyer general’s office. But regrettably for them, the state solicitor but a stop to the move, saying that the ballot question would not be legal beneath the state’s ballot initiative process.

Constitutional Provisions Preclude Ballot Question

Beneath the ongoing state Constitution, the ballot initiative procedure is included in Article 48. That article not only describes the process for getting question in the ballot, but additionally establishes exactly what can and cannot be included in such concerns. One of the guidelines for proposals states that they cannot affect an entity’s ‘right to get compensation for personal property appropriated to public use’.

Based on state solicitor Peter Sacks, in the event that relevant question were to be authorized by the public, thus ending the casino deals immediately, it could simply take the casino developers’ contract r Continue reading “Massachusetts Anti-Casino Ballot Question Gets Nixed by State AG”

It’s All Greek When It Comes to Grecian Online Gambling Now

It’s All Greek When It Comes to Grecian Online Gambling Now

Many gaming that is online are using issue with Greece’s new obscure, complex and unfriendly Internet gambling laws for operators

The gambling that is online in Greece is in a state of flux and that might be placing it much too lightly. As Greece attempts to transition into a system where players can enjoy gambling that is online at a site that is partially owned by the Greek government, they’ve also taken steps to block other internet sites from operating there. Even though not every gambling that is major has fallen target to this tactic, some are making preemptively rather that worry about what the long term holds there.

Confusing Gambling Laws

Greek online gaming laws are notoriously difficult to parse, and seem to be made to ensure a monopoly for the Greek Organization of Football Prognostics S.A. (referred to as OPAP in Greece). The us government owns 34% associated with firm, and OPAP holds a complete monopoly on land-based casino gambling within the nation. OPAP also offers a monopoly that is virtual online gambling until 2020 under Greek law, which states that only OPAP can provide most online gambling games.

Strangely sufficient, other companies can submit an application for and receive licenses for online gambling if they would like to do so. But, those licenses only allow them to offer ‘casino-type games of opportunity, the outcomes of that are not provided by a number that is random as in poker Continue reading “It’s All Greek When It Comes to Grecian Online Gambling Now”

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