U.S. Targets Banks In Online Gambling Probe

Law360, New York (January 22, 2007, 12:00 AM EST) -- At least 16 Wall Street investment banks have been served with subpoenas by U.S. authorities in a growing investigation into online gambling, reports claim.

As part of a crackdown on the illegal multibillion-dollar industry, the U.S. Department of Justice has reportedly set its sights on the banks which underwrote the initial public offerings of offshore online gaming sites.

A spokeswoman for the U.S Attorney’s Office for the Southern District of New York said she could comment on reports in the Independent, which cited city sources....
To view the full article, register now.