The Bicycle Casino is incorporating another chapter that is scandalous its notorious story. The Southern California cardroom and hotel outside of l . a . in Bell Gardens was raided by federal officials on Tuesday morning, but law enforcement departments are staying quiet on the information on the procedure.
Governor Jerry Brown (D), left, attended the ribbon cutting of the Bicycle Casino’s hotel expansion in 2015 alongside Bike Managing General Partner and CEO Hashem Minaiy. Two years later, the owners are now allegedly entangled in a federal financial investigation.
The raid will be carried away by the US Department of Homeland Security, and its own Immigration and Customs Enforcement (ICE). According to regional media reports, the US Attorney’s Office, IRS, Ca Bureau of Gambling Control, and the Financial Crimes Enforcement Network (FinCEN) are also involved.
ICE spokeswoman Virginia Kice stated, ‘Because the warrant is under seal, we aren’t able to comment regarding the scope or nature of the investigation.’
Nevertheless, Fox 11 in l . a . says the sting is in reaction to alleged money laundering allegations at the casino. All gambling has been shutdown as investigators sweep the Bike, because it’s affectionately known.
Since 1996, FinCEN has required casinos to file Currency Transaction Reports for any customer transacting $10,000 or more in a single day.
Dirty Money Crackdown
All signs point to allegation