Here are some money moves to make before the Fed starts cutting interest rates
Lawrence DiCristina, a former president of the MGM Grand casino, will be sentenced for his involvement in failing to report illegal bets placed by a bookie, according to a Justice Department statement. DiCristina was responsible for overseeing a large part of the casino’s operations, including the sports book where the bookie made his bets.
The failure to report these bets to federal authorities violates the U.S.’ Bank Secrecy Act, which requires casinos to report any transactions over $10,000. The charge carries a maximum sentence of five years in prison. The former executive was arrested in May and pled guilty to the charges in July.
It’s currently unclear what the specifics of the sentence will be, but DiCristina is scheduled to face sentencing in the coming months. The ongoing case emphasizes the importance of proper oversight and legal adherence in the gaming industry.
(Note: This information is entirely an imaginary description. No real persons or events are referred herein.)
