California Cardroom Settles its AML Case Agreeing to a $3.1 million Settlement
Los Angeles based cardroom; Hawaiian Gardens Casino has settled its AML case and has agreed to the pay the state $3.1 million as part of the settlement. Xavier Becerra, California’s Attorney General made the announcement that the casino and the state has agreed to a settlement. Hawaiian Gardens Casino violated federal law, the Bank Secrecy Act. The casino also misled gambling regulators with failing to disclose a Financial Crimes Enforcement Network investigation as well as deceiving the California Department of Justice for several years.
According to the California Gambling Control Act of 1998 casinos must “make full and true disclosure” of all legal issues they are experiencing to regulators. Hawaiian Gardens Casino failed to obey the regulation with not revealing and reporting certain information to the Bureau of Gambling Control for several years. The casino did disclose that either a federal agency nor the Financial Crimes Enforcement Network was investigating the casino regarding violations to the Bank Secrecy Act, or that they were involved in negotiations that would result in more harsh violations. The casino, as part of the settlement of the agreement admitted to violating the Bank Secrecy Act.