Nevada Regulator Unveils Embezzlement Scheme at Sports Wagering Firm
Nevada Gaming Control Board broke up a fraudulent scheme resulting in a loss of tens of thousands of dollars.
The Nevada Gaming Control Board reported that it had dismantled a fraudulent scheme that had resulted in tens of thousands of dollars in losses to a Nevada sports wagering firm. The board's agents began investigating the matter in December after the licensee reported potential fraud via internal information technology systems at sports betting kiosks.
The board's Enforcement Division found thousands of fraudulent adjustments in the scheme. Officials have not named the perpetrators or the company that was victimized, but court documents suggest that William Hill, a Caesars Entertainment subsidiary that runs 113 sportsbooks and race, may have been targeted.
The court records indicate that Paige Steiner faces 290 felony and gross misdemeanor counts, including burglary, grand larceny, intent to utter fictitious bills or checks, and conspiracy to commit criminal contempt. Shravan Singh has been charged with embezzlement valued at $100,000 or more, forgery, forgery by altering computer data, and conspiracy to commit embezzlement.
According to the regulator, the alleged operators of the scheme, who were employees of the licensee, used internal information technology systems to add money to sports wagering kiosks illegally, printed fraudulent wagering vouchers, and then redeemed them. The licensee was able to detect the alleged illegal activity using internal security measures and reported it to the board.
The Board's new Chairman, Kirk Hendrick, applauded the work of the Enforcement Division and the Board as a whole in safeguarding Nevada's residents and visitors and ensuring the gaming industry operates for the benefit of all Nevadans.
Earlier this month, the regulator announced that Nevada's 2022 gaming revenue exceeded $14.8 billion, with a record performance on the Strip in December, thanks in part to a stacked event calendar.