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Author: [Gaming Industry - US] Topic: Cantor Gaming head arrested
mellow_wolf send a private message View Space | Friends | Playbook |
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#1
Posted: 10/25/2012 2:57:21 PM
Mike Colbert, head oddsmaker at Cantor Gaming, was arrested yesterday, along with 7 others, in Las Vegas on charges of illegal bookmaking on an arrest warrant issued by the D.A. in Queens, NY.

Interestingly, Pinnacle Sports was also charges and several of its agents were reportedly also arrested.

This could get very ugly for offshore books as well as Vegas.

http://www.businessinsider.com/cantor-gamings-mike-colbert-arrested-2012-10

http://linemakers.sportingnews.com/sport/2012-10-25/mike-colbert-arrested-las-vegas-gambling-investigation-cantor-gaming-nypd-fbi


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Posted: 10/25/2012 3:03:24 PM
More:

http://www.lvrj.com/business/cantor-gaming-under-investigation-by-nevada-after-indictments-in-massive-nationwide-bookmaking-scheme-175826221.html
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Posted: 10/25/2012 3:29:08 PM
The owners of Pinnacle were also charged.
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Posted: 10/25/2012 3:40:02 PM

Pinnacle can't be charged with anything. They're licensed and chartered in offshore jurisdictions. If these people that were arrested were acting as agents for Pinnacle, that's on the agents.

Pinnacle never should have left the US market. They can accept wagers from whomever they want to. The US government has no jurisdiction over bets placed over the internet to an offshore sportsbook. 

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#5
Posted: 10/25/2012 4:56:37 PM
QUOTE Originally Posted by nick69:

Pinnacle can't be charged with anything. They're licensed and chartered in offshore jurisdictions. If these people that were arrested were acting as agents for Pinnacle, that's on the agents.

Pinnacle never should have left the US market. They can accept wagers from whomever they want to. The US government has no jurisdiction over bets placed over the internet to an offshore sportsbook. 

Nick, my friend. I hate to tell you this, but the US gov't acts like and truly believes they have jurisdiction wherever they damn well please.
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#6
Posted: 10/25/2012 9:18:50 PM
Crazy news wonder what he did?  Read a report he was manipulating point spreads
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Posted: 10/25/2012 10:23:45 PM
QUOTE Originally Posted by Michfan15:

Crazy news wonder what he did?  Read a report he was manipulating point spreads

Yes. I read that as well. It's hard for me to believe that someone else at Cantor had no knowledge of his activities, especially since Pinnacle lines are listed(for comparison) on Cantor's betting computer consoles when you are wagering. Too convenient a coincidence. This is shady stuff.
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Posted: 10/25/2012 10:27:05 PM
Oh and by the way, I just went to a Cantor console, and lo and behold, Pinnacle comparison lines have disappeared. What a surprise.
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#9
Posted: 10/26/2012 10:15:41 AM
Money laundering included in charges

seems like a mess
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Posted: 10/26/2012 1:34:53 PM
It's just sad, isn't it.

Pinnacle Sports was a great place.  They did it the right way.

People will gamble.  No matter what the police do.  It's like alcohol.  Prohibition never worked.

With all the problems we have-unemployment, deficit-we gotta deal with this bullsh!t.

I'm sure I'm not telling anything anyone already knows here.
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Posted: 10/26/2012 7:29:20 PM
I found it interesting that one of the owners of Pinnacle, Stanley Tomchin, was one of the original members of "the computer group."  I would love to know the real story why Pinnacle pulled out of the American market?  They were or were on their way to being the largest post-up book on the planet.  Why Pinnacle exposed themselves to the risks that resulted in the charges brought against the owners is beyond me.
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#12
Posted: 10/26/2012 8:45:58 PM
Pinnacle owners Brandt England, George Molsbarger, and Stan Tomchin have all been charged with enterprise corruption,money laundering, and conspiracy to commit fraud. 
Apparently Pinnacle was using dummy accounts to accept wagers from US clients and funneling the proceeds to operations in Panama and Costa Rica.
No big surprise. Watch 5 Dimes, BetOnline and the other small handful of books offering play to US clients get the hell out while they can. Very sad and disturbing.
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Posted: 10/26/2012 11:56:45 PM
I sure hope they don't shut down 5dimes.

Inevitably someone will take their place.

Ironically, for all the complaints about organized crime, the more they shut things down, the more you have to go to crime to get it done.

Barack Obama can't do a d*mn thing, not the deficit, unemployment, nothing, but he sure can spend a lot of energy and $ cracking down on a few people placing bets for enjoyment.  We sure would be better off getting that *sshole pro-government jerk outta office.  The less gov't the better.
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Posted: 10/26/2012 11:58:25 PM
Imagine if they legalized it and collected taxes.  The $ from pinnacle and so on would be a boom in an age where they can't find enough revenue.

But since when does the government ever do anything but make stupid decisions.

it's why i never get p!ssed off or angry at gov't much-because i expect them to fail, all the time, and i'm right, all the time.
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Posted: 10/27/2012 12:00:54 AM
i have to think 5dimes etc don't get shut down, reason being, pinnacle was dumb enough to have guys in the usa

these guys offshore just need to stay the hell out of the usa.  leave the $ offshore, let our gov't go bankrupt.  hopefully these enforcement *ssholes with no life will lose their cushy jobs as a result.
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Posted: 10/27/2012 12:11:25 AM
QUOTE Originally Posted by budwiser:

I sure hope they don't shut down 5dimes.

Inevitably someone will take their place.

Ironically, for all the complaints about organized crime, the more they shut things down, the more you have to go to crime to get it done.

Barack Obama can't do a d*mn thing, not the deficit, unemployment, nothing, but he sure can spend a lot of energy and $ cracking down on a few people placing bets for enjoyment.  We sure would be better off getting that *sshole pro-government jerk outta office.  The less gov't the better.

You are clearly misinformed. There is significantly more danger posed by a Romney/Ryan administration, in regards to online wagering, as compared to a continuation of another 4 years of an Obama administration. 

Read up on the issues and party stances and there is no doubt. You, obviously, have not. 
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Posted: 10/27/2012 2:29:26 AM
It's not as simple as you make it out to be.

Last I checked, Christie is pushing for sports gambling in New Jersey.  Trump is pushing for online gambling and taxing it. 

Both Romney supporters.

This crackdown is happening during the Obama administration.

Remember, under Eric Holder the Justice Dept already went after Bookmaker, shut down Greek, shut down BetJamaica.  This is obviously a priority to that Obama-appointed *sshole.

Regardless of what those Justice f/cks do, gambling is here to stay. What a complete waste of time and effort.

The one thing it seems to me they DO go is go after guys making massive profit.  If it wasn't for the huge profit, and outwardly arrogance of it, I don't think the Justice Dept goes after Colbert and co.

If you remember, they went after Full Tilt Poker because they were "flaunting" what they were doing, and it was a ponzi scheme, allegedly.

I think if 5dimes etc. keep under the radar, they'll be alrite.  don't talk, don't do sh!t.
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Posted: 10/27/2012 2:31:12 AM
I guess that goes for life too.

You open your mouth, you flaunt, somebody's gonna shut it for you.

Most of us learned that lesson, but all of us from time to time forget it.  Looks like Colbert forgot it.  It's a shame for that guy.
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Posted: 10/27/2012 2:32:11 AM
I mean shut down Greek in US.  BetJamaica was shut down period (US arm of Greek).  Guy owning BetJamaica was a class act.
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Posted: 10/27/2012 5:58:22 PM
QUOTE Originally Posted by Getty3:

Pinnacle owners Brandt England, George Molsbarger, and Stan Tomchin have all been charged with enterprise corruption,money laundering, and conspiracy to commit fraud. 
Apparently Pinnacle was using dummy accounts to accept wagers from US clients and funneling the proceeds to operations in Panama and Costa Rica.
No big surprise. Watch 5 Dimes, BetOnline and the other small handful of books offering play to US clients get the hell out while they can. Very sad and disturbing.

Exactly....lost my local connect with this crack down...back to the casinos now.  Disappointing because Pinnacle was an outstanding book with the best options out there.  
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Posted: 10/27/2012 6:49:19 PM
Yeah Pinnacle IS an outstanding book.  Hopefully for a long time further.

One more thought.  Obama is against guys making a huge profit and flaunting it.  So is Eric Holder, it seems.  Can't have successful people around,helping others.  Colbert seemed to me a class act, granting interviews.  Attitudes about people disseminate from the top.
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#22
Posted: 10/27/2012 7:15:18 PM

I actually dont think either side has a strong stance on the issue. Like said, christie and Trump especially wants to do anything to make money.

But a conservative christian like Romney knows little about it, or at the very least it has not been a priority of his. This would fall on the guys trying to clean up anything they are allowed too. Many cops gamble, etc. But at the very top of enforcement are guys who demand everything illegal be shut down. It is amazing they are not blasting into Colorado for the weed.

That is what makes this so suspect. Why these guys ? And what about the heavily bet online poker from oversea's... ? There has to be more money spent there. All illegal! I am guessing someone got mad, bad beat, that has a friend at the top and turned them in...

They dont just go looking for the stuff. If they did, we all would have been busted already. Remember the phone taps from the bush error ? They must have seen all the exchanges, computer chats, etc. The weed is the same way. This is an isolated case....

Also think Pinnacle played at the boarder. Back and forth looking obvious to the boareder guards or something like that. Just got a feeling since they reside in Canada it is an easy case to prosecute....

They have to decide: do they want us to bet offshore, at home and quietly. Or do they want us to empower the crime sindicates by having them take our bets ? Lose offshore betting and the mafia rises to new heights all over agan.

Just sick of them trying to tell me what, where and when to do it. I can bet dogs, horses and play cards if I drive an hour. But have to fly 3 to make football bets in a state that allows it. Just plain stupid that they r so far behind other countries in real freedom. They want to control it for the money. Yet are not smart enugh to just open it up...

 

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#23
Posted: 10/27/2012 7:22:38 PM
QUOTE

Originally Posted by budwiser:

I guess that goes for life too.

You open your mouth, you flaunt, somebody's gonna shut it for you.

Most of us learned that lesson, but all of us from time to time forget it.  Looks like Colbert forgot it.  It's a shame for that guy.

I did not know people actually know the owners. To know them by name and see it is written that he has granted interviews. You r so right, if your going to do it, keep super quit about it. Flaunt it = Lose it...

Shame too. I am just getting good. I guess anyone with an acct that is loaded, just lost it ?

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Posted: 10/27/2012 7:55:40 PM
QUOTE Originally Posted by Pipe-Light:

I guess anyone with an acct that is loaded, just lost it ?


As far as I know, nobody not involved with the indictment hasn't lost anything.  yet.  pray that stays the case.
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