Cantor Gaming's sports book director released on bail

29 October 2012

By Chris Sieroty

LAS VEGAS -- Michael Colbert, vice president and sports book director for Cantor Gaming, was released late Thursday on $50,000 bail from the Clark County Detention Center, his attorney Michael Cristalli said Friday.

Colbert, 32, was arrested Wednesday along with seven other people in Las Vegas and Henderson on warrants filed in Queens County, N.Y., in connection with a nationwide illegal bookmaking operation that generated $50 million in seven months.

Colbert faces eight counts of conspiracy, money laundering and enterprise corruption, and is scheduled to appear Monday in Las Vegas Justice Court. As of Friday, a court hearing in New York had not been scheduled.

In New York, Queens County District Attorney Richard A. Brown charged 25 individuals with 225 criminal counts for conspiring to acquire money illegally through the operation of an unlawful gambling enterprise involving the use of Internet sites that accepted bets on sporting events.

Cantor Gaming's sports book director released on bail is republished from iGamingNews.com.