Bookmaker Coral rebuked by regulator over money launderer

Posted on October 8, 2013 by admin
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Shops owned by one of Britain’s biggest high street bookmakers were used to launder almost a million pounds of money linked to drug dealing, the gambling regulator announced on Monday.

In a rare admission that betting shops could be used to conceal the source of ill-gotten gains, the Gambling Commission said Coral would have to pay back the £90,000 it made from a single customer who visited shops in north-east England. The man in his 30s, who cannot be named while he is waiting to be sentenced, was charged by police in Durham as part of a campaign against organised crime.

Read the full article in The Guardian online.