As a service to our readers, here's a re-post of a story in the SF Chronicle----you can view the same text on their website by clicking here.
Emeryville casino director charged in money structuring
Henry K. Lee, Chronicle Staff Writer
Wednesday, March 9, 2011
(03-09) 08:19 PST EMERYVILLE -- The Asian gaming director at an Emeryville casino that was raided by law enforcement officials has been charged in federal court with structuring monetary transactions to avoid detection, court records show.
Hoa The Nguyen, 47, of Alameda who oversaw Asian gaming at the Oaks Card Club, had nearly $3 million deposited in his personal bank accounts from 2006 to 2010, and of 380 deposits, only five were greater than $10,000, according to the complaint filed Tuesday in U.S. District Court in San Francisco.
Federal prosecutors said Nguyen structured more than $906,000 in transactions at three banks in Los Angeles and the East Bay so that each transaction totaled less than $10,000 a day at any given bank location. By depositing large amounts of money in this fashion, Nguyen avoided federal reporting requirements, authorities said.
Nguyen is under investigation in connection with a "criminal organization involved in drug trafficking and extortionate lending" at the Oaks Card Club and Artichoke Joe's, a casino in San Bruno, Internal Revenue Service Special Agent Bryan Wong wrote in an affidavit.
Last Wednesday, federal, state and local law enforcement officials searched Nguyen's home, raided both casinos and arrested 14 people, including casino employees. Loan sharks at the casinos threatened to harm borrowers who failed to repay loans with 10 percent interest per week, according to a 60-page indictment.
Some of the defendants dealt methamphetamine, cocaine and ecstasy and face a mandatory minimum sentence of 10 years in federal prison if convicted, authorities said
A man described as a onetime leader of the operation, Trang Man Looc, 54, of Hayward, was arrested and charged last week in federal court with bank fraud for allegedly lying on mortgage-loan applications, court records show. Looc, who has convictions for attempted extortion and weapons possession, is an associate of gang members in San Francisco's Chinatown, according to the FBI.
E-mail Henry K. Lee at hlee@sfchronicle.com.
No comments:
Post a Comment