..

SunFirst Bank Under Watchful Eye of US Authorities

Written by:
Aaron Goldstein
Published on:
Apr/15/2011
John W. Campos

The tiny St. George, Utah bank, SunFirst Bank, came under scrutiny on Friday after the US Attorney’s Office in the Southern District of New York announced its connection to the closure of three massive online poker rooms.

The indictments were unsealed against PokerStars, Full Tilt Poker and UB.com just hours after Gambling911.com cited a news article appearing in the Courier-News of Australia revealing how an Aussie payment processor facing up to 75 years in prison agreed to cooperate with US authorities and, in so doing, provide them with the “inside scoop” on how online poker transactions slipped through banks undetected. 

Prosecutors claim that John Campos, a shareholder and Vice-Chairman of SunFirst Bank, agreed to conduct transactions on behalf of the poker rooms in exchange for a $10-million investment in SunFirst Bank by one of the other named defendants.

From KCSG TV:

Two arrests made in St. George, Utah, included John Campos, the vice chairman of the board and shareholder of SunFirst Bank. The other man arrested in Utah was Chad Elie.

According to a federal indictment, Campos allegedly agreed to process gambling transactions in return for a $10 million investment in SunFirst by Elie and an associate, which would give them a more than 30 percent ownership stake in the bank. Campos also received a $20,000 "bonus" for his assistance, the indictment states.

Federal prosecutors in Manhattan said Friday they’ve issued restraining orders against more than 75 bank accounts used by the poker companies, interrupting the illegal flow of billions of dollars.

A prosecutor says PokerStars, Full Tilt Poker and Absolute Poker created an elaborate scheme that included fooling banks and bribing officials at a few to keep money flowing.

It was unclear what, if any, effect this would have on the bank and its practices, though one would have to believe the Feds are studying banking records tied to Campos based on the aforementioned circumstances. 

- Aaron Goldstein, Gambling911.com

 

Follow breaking headlines around the clock at Gambling911.com Twitter Here

Gambling News

Hard Rock, Seminole Gaming Win Corporate Social Responsibility Award

Hard Rock, Seminole Gaming Win Corporate Social Responsibility Award

Hard Rock International and Seminole Gaming have won the Corporate Social Responsibility Award from the National Council on Problem Gambling (NCPG).  The award recognizes the PlayersEdge casino team member training program, which was introduced in December, 2019.  The award was presented at the recent NCPG Digital Symposium and National Awards Ceremony.  In 2014, Seminole Gaming also received the Corporate Social Responsibility Award from NCPG.

PointsBet to Partner With Denver Nuggets, Colorado Avalanche, More

Sports Illustrated Gambling has learned exclusively that PointsBet Sportsbook has entered into a multi-year partnership with Kroenke Sports & Entertainment, LLC ("KSE").

New Gambling Law in the Netherlands Explained

New Gambling Law in the Netherlands Explained

From rumors to reality, the law that would legalize online gambling in the Netherlands is finally enacted by the Dutch parliament. The Remote Gambling Decree was presented to the parliament, along with two different letters filled with answers responding to questions that had earlier been raised at the previous parliamentary debates. The major points of discussion were in regards to extending the cooling-off period by six-months and whether or not to prohibit the advertisement of online gambling services. At the end of the day, the cool-off period was extended and the proposed ban on advertising was denied. 

Are Online Casinos Legal in the Netherlands?

Are Online Casinos Legal in the Netherlands?

The much-anticipated new gambling regulation in the Netherlands is changing the scene of online gambling and the gambling industry as a whole. The ministry overseeing the new gambling regulations has announced that the new legislation would transform the Dutch gambling industry. After several years of lurking in the shadows, online casino and gambling vendors are now free to roam and legally promote games to Dutch players. So yeah, online casinos have now been made legal in the Netherlands, but with a lot of rules and guidelines, enough to stifle the joy of the news. 

When is a Sportsbook is Responsible for Their Faulty Lines, Koepka a Liability

When is a Sportsbook is Responsible for Their Faulty Lines, Koepka a Liability

""At what point does a sports book become responsible for their own errors?"

Syndicate