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Nevada Legislation Could Help Gambler Regain Millions16 March 2001CARSON CITY, Nevada – March 16, 2001 –As reported by the Associated Press: “A key lawmaker is moving ahead with a bill that could help Las Vegas golf course developer and high-rolling gambler Billy Walters get back $2.8 million seized in an alleged money-laundering case. ”Senate Judiciary Chairman Mark James said Thursday that he will amend his Senate Bill 36 to ensure half of the money seized yearly by authorities goes to education instead of just law enforcement. ”…The standard in Nevada law for seizing someone's property requires authorities to show by `a preponderance of evidence’ that property forfeiture is warranted. Under SB36, the new, higher standard would be `clear and convincing evidence.’ ”…Walters' money was seized in December 1996 and remains in an interest-bearing bank account pending resolution of the criminal case against him. ”Prosecutors contend Walters participated in a conspiracy to illegally place bets with bookmakers in New York and then transport the winnings back to Nevada. ”But three grand jury indictments against Walters have been thrown out. The state attorney general's office has appealed to the Nevada Supreme Court to reinstate the case.” |