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Florida Expected to Pass Law to Combat Illegal Gambling

Florida Expected to Pass Law to Combat Illegal Gambling

The Florida governor is expected to sign a bill which would ban strip-mall parlours from operating slot machines.

Florida Expected to Pass Law to Combat Illegal Gambling

Tough anti-gambling laws have been drafted since the corruption at Allied Veterans of the World has been uncovered

The bill comes after investigators have targeted fifty parlours affiliated with Allied Veterans of the World; the supposed charity was in actual fact a front for a $300 million gambling operation and just gave a small amount to veterans.

It is thought that the new laws will come into effect within days, but it is not yet known if gaming parlours will be challenging the new laws in court.

The investigation into Allied Veterans has stirred up such controversy as almost 90 local officials and candidates in 20 Florida counties received political contributions from the parlours, their owners and their political committees over the past few years. Furthermore, on the state level over $1 million has been contributed to officials and candidates by companies tied to Allied Veterans.

According to investigators, just 2% of Allied Veterans $300 million earnings actually went to veterans’ charities. The rest was spent on boats, real estate and sports cars for the company’s owners.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.