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Gambling Opponent Cleared of Wrong Doing
Thursday, May 3,2012 : ONLINE GAMBLING OPPONENT CLEARED OF WRONGDOING (Update)
All charges against Rep. Spencer Bachus dismissed by Congressional Ethics office
This week an old gambling story resurfaced with the news that US Representative Spencer Bachus of Alabama, an arch anti-online gambling politician in Congress, has been completely exonerated on charges of abusing insider political knowledge.
The Republican politician was the subject of an investigation by the Office of Congressional Ethics into allegations arising from a television expose claiming that he had made money from using insider knowledge that came to him as a lawmaker .
Bachus, as chair of the powerful House Financial Services Committee, was in a position to prosper from insider knowledge, and he did so, especially in the 2008 economic meltdown, it was claimed. At the time, Bachus was receiving briefings from Treasury Department officials and economic experts about the banking crisis, the Wall Street Journal reported in 2010.
A book by Peter Schweizer titled “Throw Them All Out” added fuel to the fire with details of questionable political conduct for personal profit in Congress.
The issue really hit the headlines in a big way only in 2011, when an expose on corruption in Congress aired on the CBS television network program "Sixty Minutes", naming Bachus and other political luminaries like Speaker John Boehner and House Minority Leader Nancy Pelosi.
Bachus has consistently denied the allegations, and this week the Office of Congressional Ethics unanimously dismissed all suggestions of wrongdoing against him.
Something positive did come out of the sad litany of politicians behaving badly, however; Congress recently passed a law forbidding insider trading by members of Congress.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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