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U.S. Targets Banks In Online Gambling Probe

Law360 (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....
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