Past Crimes<\/strong><\/h2>\nIn January 2014, CGT was ordered to pay a record $5.5 million for permitting one of its executives to run an illegal online sports betting operation, which used CGT\u2019s legitimate Nevada sports books to make and lay off bets from its VIP clients.<\/p>\n
Federal prosecutors fined the company an additional $22.5 million to settle charges of money laundering and illegal gambling.<\/p>\n
In July 2016, CGT was ordered to pay $1.5 million after a glitch in its systems led to it shortchanging customers 20,000 times on round robin parlay bets. The company was aware of the fault but failed to act on it. The NGCB also demanded the resignation of the company\u2019s president and CEO, Lee Amaitis.<\/p>\n","protected":false},"excerpt":{"rendered":"
CG Technology (CGT) is hoping a payment of $2 million will convince gaming regulators to drop ongoing disciplinary action and allow the company to continue to operate its sports books in Nevada. CGT, formerly Cantor Gaming, has been hauled up in front of regulators three times in the past five years for serious compliance failures […]<\/p>\n","protected":false},"author":36,"featured_media":92383,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,13592,1074],"tags":[],"acf":[],"yoast_head":"\n
CG Technology Proposes $2 Million Fine to Settle Compliance Failures<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n