Cantor-Funded Business Said to Pay $22.5 Million to End Probe
- CG Technology also investigated over money laundering
- Ex-CG official pleads guilty to illegal gambling involvement
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A Cantor Fitzgerald LP-funded race-book and sports-book business agreed to pay $22.5 million to settle investigations that it engaged in illegal gambling and money laundering.
CG Technology reached the accord to resolve investigations by U.S. Attorneys in Brooklyn, New York, Las Vegas, Nevada and the Treasury’s Financial Crimes Enforcement Network. Under the deal the company won’t be prosecuted criminally because it cooperated with the government investigation and has taken steps to fix its practices, Brooklyn U.S. Attorney Robert Capers said.