Tragically some states are now embracing Internet gambling as a way to generate tax revenue. We fear in the end it ends bad for the states that do this, especially if they already have legal brick, and mortar casinos, because we believe it will cost jobs
(PRWEB) November 25, 2013
The Corporate Whistleblower Center says, "In a recent Forbes Magazine article billionaire Sheldon Adelson was quoted as saying, click your mouse and lose your house, and we could not agree more. We think it is about time Internet gambling is outlawed, and we have been saying this since 2007. Tragically some states are now embracing Internet gambling as a way to generate tax revenue. We fear in the end it ends bad for the states that do this, especially if they already have legal brick, and mortar casinos, because we believe it will cost jobs. As an example, if you live in Newark, or Trenton, New Jersey, why travel to Atlantic City, rent a room, buy meals, gamble, when you can simply stay home, and gamble on the Internet anytime? How well does that work out for casino, hotel, or restaurant workers in Atlantic City?" http://CorporateWhistleblowerCenter.Com
Another concern of the Corporate Whistleblower Center has been the lack of enforcement of by federal agencies like the IRS and enforcing federal laws:
Some First Hand Examples Of The IRS Bungling Major Tax Fraud Whistleblower Cases From The Corporate Whistleblower Center:
- In October of 2006 President Bush signed into law the Unlawful Internet Gambling Enforcement Act. The Corporate Whistle Blower Center almost immediately started an investigation. By the spring of 2007, the group already had enough evidence to prove one of the largest US banks was laundering Internet gambling proceeds to US Internet gamblers, along with the one of the biggest banks in Germany-via its US offices. The potential tax fraud could be in the hundreds of millions of dollars. The Corporate Whistle Blower Center says, "We presented our information to the Justice Department, and the IRS. No US banks, or German banks doing business in the US were ever punished for the money laundering, or tax fraud. No federal cases were ever filed? We still have the proof, in the form of checks, and wire transfers."
The Corporate Whistleblower Center is inviting Mr. Adelson, or groups affiliated with his effort to contact them about a coordinated effort to expose banks involved in laundering Internet gambling proceeds, while the federal law was still applicable. At the same time the group is offering to organize victims, whose lives were ruined by Internet gambling, because it was so easy to do, and like Mr. Adelson has said, "Click your mouse, and lose your house." http://CorporateWhistleblowerCenter.Com
For attribution purposes please review the November 2013 Forbes news article on this topic: http://www.forbes.com/sites/nathanvardi/2013/11/19/sheldon-adelson-starts-a-billionaire-brawl-over-online-gambling/.