Authorities in Queens, New York have busted an offshore sports betting operation. The operation has links to the mob and they got away with a half-billion dollars in wagers. A corporation as well as thirty individuals has been indicted in Queens in connection with the operation which stretches across the country.

More than $567 million was collected by the betting ring during a twenty eight month period. Wagers were accepted on several sports including hockey, basketball and football. Richard Brown the Queens District Attorney commented in a statement that the investigation uncovered evidence that the betting operation had connections with the Gambino and the Genovese crime families. The operation was generating over $20 million in one month’s time.

According to the indictment the betting ring used a wire room in Panama to maintain gambling accounts. Authorities seized more than $3 million in cash during a thirty eight month investigation called Operation Betting It All. Authorities are still tracking down assets that belonged to the ring.

Police has arrested twenty seven suspects and are currently looking for three others, two who are believed to be in Panama. Those arrested have been charged with enterprise corruption, money laundering, conspiracy and promoting gambling.


- 2009-10-22