The Nevada Gaming Control Board has broken up an embezzlement scheme that resulted in the loss of tens of thousands of dollars to a Nevada sports wagering company, the regulator announced on Friday.
Agents began investigating the matter in December after the licensee self-reported potential fraud using internal information technology systems at sports betting kiosks.
Officials did not name suspects or the victimized company in a news release issued Friday and would not disclose additional information. However, as reported by Las Vegas Review-Journal, Las Vegas Justice Court documents point to an embezzlement and fraud case that was heard by Judge Rebecca Saxe on Thursday involving an alleged scheme against William Hill. The Caesars Entertainment subsidiary operates 113 race and sportsbooks in Nevada.
Court records show that Paige Steiner faces 290 felony and gross misdemeanor counts including charges of burglary, grand larceny, intent to utter fictitious bills or checks and conspiracy to commit criminal contempt.
Shravan Singh faces felony charges of embezzlement valued at $100,000 or greater, forgery, forgery by altering computer data and a gross misdemeanor count or conspiracy to commit embezzlement.
According to the regulator, the alleged operators of the scheme used internal information technology systems at their disposal, as employees of the licensee, to illegally add money to sports wagering kiosks, and then print and redeem fraudulent wagering vouchers. The licensee was able to use internal security to uncover the alleged criminal activity and report it to the board.
Agents of the board’s Enforcement Division uncovered thousands of fraudulent adjustments from the scheme, the aforementioned source adds.
Kristi Torgerson, the chief of the board’s Enforcement Division, said: “The board appreciates licensees meeting their obligation to investigate and self-report potential statutory and regulatory violations, as well as alleged criminal activity.”
“The Enforcement Division will continue to be aggressive in its investigations and covert operations to ensure that the gaming industry is free from criminal elements in its unending effort to safeguard the integrity of regulated gaming in Nevada,” she added.
New Control Board Chairman Kirk Hendrick also commented: “I continue to be proud of the work that the Enforcement Division – and the Board as a whole – does to keep Nevada’s residents and visitors safe from criminal activity, and to guarantee that the gaming industry is operating for the benefit of all Nevadans.”
Earlier this month, the regulator announced the financial results for the state for 2022. The Board confirmed that, with the inclusion of December’s performance, the state finished off the year with more than $14.8 billion in gaming revenue, blowing past 2021’s $13.4 billion. Results for the year were fueled by a record performance of the Strip in December.
The Strip accounted for more than $8.2 billion of the state’s total in the year, a 17.1% increase compared to its 2021 performance. As for December’s gaming revenue in the Strip, which amounted to almost $814.2 million, figures were boosted by a stacked event calendar that included two Las Vegas Raiders games, the PAC-12 championship football game, the National Finals Rodeo and a UFC fight.
Original article: https://www.yogonet.com/international/news/2023/02/13/66075-nevada-regulator-shuts-down-embezzlement-scheme-reportedly-linked-to-william-hill-employees
