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Private Investor Group

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North Texas Gambling Ring Busted

Sports betting is legal. In Las Vegas, Nevada and soon to be Atlantic City, New Jersey. Unfortunately for the North Texas Gambling ring they are not located in Vegas. This group brought in over $1 billion in just 365 days through off shore gambling websites paired with a toll free phone number that received up to 35,000 phone calls each month according to a recent IRS report.

This case is currently one of the largest illegitimate gambling busts of all time. Part of the seizures included exotic cars, wads of cash, colored diamonds, bullion, and high end sports memrobalia.

As of June 29th 2012 there has yet to be any criminal charges but documents are being mulled over to determine who the ring leader is in this situation. 

22 alleged in the involvemnet who were mostly based in the Dallas/Fort Worth Texas area who brought infrom 9/2009-2010 $1,000,000,000 in gross wagers and over $50,000,000 in earnings that were not legal. This ring was started 10 years ago and has been profiting similarly ever since according to those close to the IRS.  

The Caribbean Connection

The 1-800 and 1-855 phone numbers were leased from telecom companies that were based in the Caribbean island of Curacao which is close to Aruba but under the reigns of the Netherlands. With over 21,355 calls each month from Football to the end of College basketball with March Madness.

Twenty-Five sites in all were registred there and a Dallas, Texas man by the name of Carl Francias handled the shuffling of millions of dollars in and out of multiple bank accounts.  The domestic citizen provided bettors with their login credentials even though he knew that it was illegal to place wagers online in the United States.

Over Eleven Million dollars from individual gamblers were deposited under his supervision. As of today Francis is asking the IRS to give back over a million and a half dollars seized of his, multiple laptop and desktop computers, along with his four year old Mercedes Benz.

Dalls Fort Worth Texans Claim Seized Property

The court papers say who was allegedly involved via outlines of seized property. 17 residents are asking for their property back but the judge is slow to move even though the IRS can not prove anything illegal on their behalf as of today.

All of the vitcims with thousands of dollars and silver bars seized are claiming that they were legally advised that it was not illegal and everything was out in the open. Will ignorance play a factor or will the government smarten up and just legalize sports betting so they stop losing valuable tax dollars at a time of need?

Gregg Merkow Professional Poker Player Involved 

Even pros who have lots of cash got stuck in this mess. Losing $233,300 in cash plus valuable precious metals.

"I am a professional poker player and have been for a number of years," Merkow wrote in a claim. "In order to participate in this profession, it is necessary to have a cash hoard which is accessible on short notice ... Part of the money is my cash hoard which I have accumulated over the last 20 years or so."

Gregg who is 48 and has been playing professionally since 28 lives in Plano, Texas and said the IRS illegally took his documents recording his wins/losses for playing poker.

DMNonthenet.com was the website in question in this gambling ring and only time will tell how this will play out.

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