Tonkawa Tribe fined $2.5M for bank law violations

Monday, March 27, 2006  

The Tonkawa Tribe of Oklahoma and its gaming management partner were fined $2.5 million for violations of the Bank Secrecy Act.

The tribe and Edward E. Street were accused of "extensive violations" of the law. "This case involved the absence of an adequate anti-money laundering program, the use of fictitious social security numbers for customer identification, an unreported deposit of $300,000 in cash from a duffel bag, and other suspicious transactions," a government official said.

The Financial Crimes Enforcement Network of the Department of Treasury issued the fine, said to be the first ever under the casino provisions of the law.

Get the Story:
Tonkawas face casino fine (The Oklahoman 3/25)
pwpwd
Federal authorities fine Tonkawa Indian Casino, operator $2.5-million (The Thoroughbred Times 3/25)
Press Release: FinCEN Assesses $2.5 Million in Civil Money Penalties Against Edward E. Street and the Tonkawa Tribe of Oklahoma (FinCEN 3/24)