Iowa Lo<span id="more-49887"></span>ttery Worker Arrested for Holding $16.5 Million Lottery Ticket

After an investigation that is four-year Iowa Lottery officials believe a member of staff fraudulently won the $16.5 million Hot Lotto jackpot. (This winning ticket had been from a previous Lotto draw for similar amount).

Iowa Lottery officials say they’ve finally solved a mystical four-year investigation regarding the unidentified owner of a $16.5 million Hot Lotto winning solution.

The path led authorities to an unlikely source: a lottery worker who himself just isn’t permitted to buy a ticket, as a matter of conflict of interest.

The Iowa Division of Criminal Investigation claims Eddie that is 51-year-old Raymond purchased the ticket in 2010, despite being prohibited from playing due to their employment because the director of information securities with all the Multi-State Lottery Association.

Investigators determined that Tipton visited great lengths to conceal their identity and collect on the ticket that is winning the help of others.

After digging through one of the most complex scandals into the state’s 26-year lottery history, detectives hit paydirt when they gave immunity to A canadian guy, Philip Johnston, who was hired by Tipton. The details received generated Tipton’s arrest this and he is currently being held on $10,000 bail at the Polk County Jail on two felony counts of fraud week.

Hot Lotto, Cold Case

Tipton is charged with purchasing A lotto that is hot ticket December 29, 2010, at A des Moines Quick Trip gas station.

The jackpot was valued at $16.5 million, with a cash option of $10,750,000 at the time. The Iowa Lottery revealed a winning ticket had been offered, however no winner had come forward.

In the complaint, county prosecutors assert that Tipton contacted a Texas lawyer who arranged to hire Johnston to claim the jackpot, but lottery officials refused to payout after the Canadian’s story didn’t accumulate.

The case went unsolved until just hours before the one-year claiming deadline.

In December of 2011, New York lawyer Crawford Shaw presented the winning ticket on behalf of Hexam Investments Ltd., a trust arranged to protect the identity for the winner. When Shaw declined to answer questions about the ticket purchaser’s identification and those included with its handling, payment ended up being denied.

Authorities were not yes whether the owner that is original of admission had been the victim of a nasty crime or had committed a criminal activity, but they did know something smelled fishy.

When surveillance movie was made public of a disguised tipton purchasing the admission, a former co-worker arrived forward. Authorities additionally gathered proof after giving Johnston immunity in return for information on the ticket owner that is original.

Ironic Twist

Headquartered in Iowa, the Multi-State Lottery Association (MUSL) is a non-profit group consisting of 31 member states, the District of Columbia, and U.S. Virgin isles.

In addition to the Hot Lotto, MUSL offshore Powerball and coordinates with Mega Millions. Tipton’s job performance in information security might have ironically generated his downfall.

Iowa Lottery CEO Terry Rich told reporters, ‘ We now have strong security procedures in place to protect and ensure the integrity of our games and we absolutely believe this case indicated those processes worked to safeguard lottery players, lottery games, and lottery prizes.’

Since Tipton ended up being privy to private security information and protocol, he was banned from playing the lottery, yet still felt his scheme wouldn’t be detected. ‘We all know there can be people who will try and beat the machine. We have and certainly will continue steadily to upgrade our security procedures to recognize weaknesses to force away them,’ Rich explained.

Hot Lotto isn’t televised drawing. Alternatively, the lottery makes use of random number generators. Investigators continues to examine the situation, because they hope to ascertain whether Tipton somehow influenced the computer’s generated numbers.

Caesars Bankruptcy Plans Get Damaged In Court

Caesars’ intends to restructure its astronomical debt has met a hurdle that is big the shape folks District Judge Shira Scheindlin, whom says that its plans are a breach of federal law. (Image: finechinagirl.com)

Caesars Entertainment’s (CZR) plans to put its main operating arm, Caesars Entertainment Operating business (CEOC), into Chapter 11 bankruptcy hit a major setback this week when a

New York judge ruled that its reorganization efforts have violated federal law.

Caesars has been involved in months of litigation and negotiation featuring its bondholders as it attempts to restructure some $18 billion of its debt.

But the group’s reduced level creditors argue that its restructuring plan, worked out with its creditors that are major unjustly protects the business’s passions at the cost of these own.

When Caesars filed for voluntary bankruptcy court in Chicago week that is last these creditors had already filed a suit of their very own against Caesars, for involuntary bankruptcy, three days previously in a ladbrokes casino claim code court in Delaware.

The hearing this week in Manhattan was an effort by Caesars to possess the Delaware filing dismissed, a move that ultimately caused the company more harm than good.

Render Unto Caesars…

US District Judge Shira Scheindlin was critical of CZR, ruling that creditors’ accusations concerning the transfer of valuable properties far from CEOC over the summer, as well as the CZR’s elimination of guarantees for creditors, were a violation of the Trust that is federal Indenture of 1939.

It was exactly this kind of ‘impermissible out-of-court restructuring’ that the Act was made to avoid, she said.

Caesars’s astronomical, industry-high debt comes from 2008 when it was purchased out by Apollo Global Management and TPG Capital in a $30.1 billion takeover.

This had been just as the recession began to ravage the casino industry in America, and Caesars, then with 50 casinos across the US, bore the brunt of that recession.

Caesars has lost money every since 2009, and recently posted Q3 losses of $908.1 million year.

It has regularly struggled to pay the attention on its debt, final thirty days defaulting on a $225 million payment.

Based on Judge Scheindlin, the bondholders that are dissident complaint alleges that Caesars’ ‘ultimate plan’ is always to put CEOC ‘into bankruptcy while protecting Apollo Management LP and TPG Inc. from CEOC’s creditors.’

The band of creditors has also accused the company of trying to produce a ‘good Caesars’ and a ‘bad Caesars,’ someone to own the valuable and properties that are iconic one to contain the financial obligation.

Bankruptcies Frozen

Caesars has countered that the team is attempting ‘to wreak havoc on the orderly process the debtors, their professionals, and the many consenting stakeholders have been get yourself ready for months.’

‘We believe this restructuring is within the most useful interests of CEOC’s stakeholders and will result in a capital that is sustainable for CEOC and value creation for all stakeholders,’ said Gary Loveman, CEO of Caesars Entertainment and chairman of CEOC, recently. ‘The restructuring of CEOC may be the culmination of a years-long effort to improve the wellness of CEOC’s balance sheet, which has included substantial investment in new and upgraded assets, especially in Las Vegas.’

Meanwhile, the two bankruptcy cases are efficiently frozen until the judge in Delaware decides which court will preside over the bankruptcy proceedings.

In a statement, Caesars spokesman Stephen Cohen said the company was unfazed by the court ruling this week. ‘Given how big the claims at problem and our strong defenses, we do not really expect the ruling to influence the planned reorganization,’ he stated.

NCLGS Adopts Policy Framework for Online Gambling Regulation

NCLGS president Helene Keeley states that the organization’s framework will offer states guidance on crafting on the web gambling legislature. (Image: mainstreet.com)

November the National Council of Legislators from Gaming States (NCLGS) has voted to adopt a policy framework that was first published last.

The NCLGS, which can be comprised of legislators from many states that have active gambling industries, has been taking care of the policy framework since 2013.

Called the Policy Framework for the Regulation of Internet Gaming, the NCLGS policy statement was built to provide states some guidance in how to enact Internet gambling legislation when they elect to do so.

After the most recent amendments towards the framework, it was made clear that the NCLGS was not making a statement for or against online gambling, but rather providing a framework that is basic legislators could work from when developing their own Web gambling legislation.

‘ Thanks to the input of a myriad of interested parties, the Framework is informed and balanced and, I’m proud to say, is really a hallmark of NCLGS efforts to date,’ said State Representative Helene Keeley, (D-Delaware), president of this NCLGS. ‘It’s time for states that tend to welcome Internet gambling to take a look that is in-depth what the Framework provides.’

Framework Highlights Ten Areas of Focus

The main focus of the framework had been to deal with the most important areas that governments should regulate when legalizing on the web gambling.

In particular, ten issues were highlighted, ranging from taxation and licensing to payment processing, confirming player identities (including age and location), how to create multi-jurisdictional agreements, and what games can be offered.

While the framework is not legislation on its own, it may be utilized being a structure that is bare-bones which a law may be built.

The existence of the framework could eventually prove valuable in future efforts to regulate online gambling, and not just because it includes a kick off point.

Simply having an NCLGS framework working from should provide legislators with desire for the problem some credibility, because it shows that serious thought and input went into the issue from the variety of parties.

It may also help ensure that states will work through the same fundamental playbook on the issue, increasing the chances that state laws will be compatible with one another within the future.

While the framework is virtually identical to the one released in November after a second round of commenting (albeit with a few amendments, including stronger protection for player funds), it could not be considered the official NCLGS policy framework until this month’s vote.

Commentators who had influence on the framework include the Alderney Gambling Control Commission therefore the us Association of State and Provincial Lotteries.

More States Considering Online Gambling in 2015

The NCLGS framework comes at a time when an ever-increasing number of states are considering online gambling legislation.

In California, legislators are once again offering Internet poker a look, with Assemblyman Mike Gatto having already introduced a bill in the present session, albeit one with some controversial clauses.

In other states, online gambling efforts are facing longer odds.

In Washington, efforts are underway to decriminalize online gambling and perhaps even control online poker, although the bill leaves most of the actual regulations to the state gaming commission.

Meanwhile, Representative Bobby Moak (D-53rd District) has introduced just one more Internet gambling bill in Mississippi, though the prospects for regulations seem little better than in previous years.