The casino failed to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports for Casinos (SARCS) that are required under the BSA, a law intended to thwart money laundering.įederal prosecutors entered into the NPA in recognition of the Bicycle’s remedial efforts to strengthen its anti-money laundering program, as well as its acceptance of responsibility, cooperation with authorities during this investigation, and agreement to make a $500,000 payment. The resolutions are the result of an investigation by Homeland Security Investigations (HSI) Los Angeles, IRS Criminal Investigation and the California Department of Justice’s Bureau of Gambling Control.Īccording to a Non-Prosecution Agreement (NPA) with federal prosecutors, the Bicycle accepted responsibility for failing to properly file reports for a foreign national who conducted millions of dollars in cash transactions at the casino in 2016. LOS ANGELES – To resolve an investigation into alleged violations of the anti-money laundering provisions of the Bank Secrecy Act (BSA), the partnership that operates the Bicycle Hotel & Casino in Bell Gardens has agreed to pay $500,000 and undergo enhanced review and reporting requirements designed to prevent future violations of federal law.
