Legalize Gambling – Help Save America | Fast Line Sports

Legalize Gambling – Help Save America | Fast Line Sports: "Uncle Sam and offshore companies need to form a committee and look at how they can communicate and build a business model that the Feds are OK with in order to open up online betting. Nice thing about online gaming is no one shows up at your door Tuesday morning to bust your kneecaps when it is time to pay up, you can only wager what is in your account, not bet over your head, if anything it is a form of self reregulation upon people who may in fact want to gamble past their means. THEY ARE DOING IT NOW WITH Illegal bookies all over the country and Uncle Sam is missing the tax gravy train. Same goes with poker and online casinos."

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Only four runners left in the Tote Stakes after Gala Coral drop out

Only four runners left in the Tote Stakes after Gala Coral drop out - Telegraph: "Perhaps after the runners were known they didn’t like the make-up of the field or the conditions of this ‘race’.
The runners and riders make interesting reading. Fred Done, with his expanding empire, is favourite in betting on the event. Also in the field are the Reuben Brothers, former BHB chairman Sir Martin Broughton’s group and the Racing Foundation.
Make no mistake, the Racing Foundation bid, in which Tote executives Mike Smith and Trevor Beaumont are involved, looks attractive for the sport itself. It is structured as an independent foundation with three trustees, who own the shares, and has the advantage of charitable status.
There was much celebration when ‘Racing’ was reassured that it would share the proceeds of the sale with the Government. Of course, nobody has ever given a satisfactory answer on who actually owns the Tote nor who ‘Racing’ is."

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Only four runners left in the Tote Stakes after Gala Coral drop out - Telegraph

Only four runners left in the Tote Stakes after Gala Coral drop out - Telegraph: "Perhaps after the runners were known they didn’t like the make-up of the field or the conditions of this ‘race’.
The runners and riders make interesting reading. Fred Done, with his expanding empire, is favourite in betting on the event. Also in the field are the Reuben Brothers, former BHB chairman Sir Martin Broughton’s group and the Racing Foundation.
Make no mistake, the Racing Foundation bid, in which Tote executives Mike Smith and Trevor Beaumont are involved, looks attractive for the sport itself. It is structured as an independent foundation with three trustees, who own the shares, and has the advantage of charitable status.
There was much celebration when ‘Racing’ was reassured that it would share the proceeds of the sale with the Government. Of course, nobody has ever given a satisfactory answer on who actually owns the Tote nor who ‘Racing’ is."

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Government ruling will see horse racing receive £80m Levy settlement

Government ruling will see horse racing receive £80m Levy settlement - Telegraph: "Culture secretary Jeremy Hunt will back the recommendation of the government-appointed independent directors of the Levy board and say racing should receive £75m-£80m from the 2011-12 settlement.
Hunt is expected to announce changes to the way the Levy - currently a 10 per cent tax on bookmakers’ gross profits - is determined.
A threshold that exempts shops with gross profits of less than £50,000 from Levy contributions is expected to be dropped, with an exemption retained only for the smallest shops.
Racing is also hopeful that overseas racing attracting bets in UK shops will once more be subject to Levy payments.
Should overseas racing be added - and there is concern in government that could be subject to legal challenge - Hunt may also reduce the Levy take to nine per cent to offset the upside to racing."

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Gibraltar prides itself on the firm’s “availability to our clients,” Orphans Get Fleeced, Rich Widows Should Be Next

Orphans Get Fleeced, Rich Widows Should Be Next: Susan Antilla - Bloomberg: "It’s hard to imagine why anyone would fleece a widow or an orphan when there are so many inexperienced municipalities and dumb sports team owners to hoodwink.

Rich widows, I suppose, will always be tempting marks for con artists. But orphans? If the allegations in a recent lawsuit are true, I’d say we’ve sunk to a new low in financial roguery.

Hillcrest Children’s Center, formerly the Washington City Orphan Asylum, claims a money manager stole $8 million of the group’s $17 million endowment, according to a complaint filed last month in U.S. District Court for the District of Columbia.

Hillcrest, founded in Washington as an orphanage in 1815 to help children left homeless by the War of 1812, in its more recent history has tended to the mental-health needs of local children and families. In 2008, its board of directors retained Gibraltar Asset Management Group Inc., which represented itself as a prominent Washington wealth adviser, according to the complaint.

If the allegations are true, Hillcrest would have been better off stashing its money in a safe and leaving the door open.

Gibraltar prides itself on the firm’s “availability to our clients,” according to the company website. Rallying anyone these days at Gibraltar is not so easy."

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Lydian Private Bank flips to profit, Gibraltar Private Bank loss deepens

Lydian Private Bank flips to profit, Gibraltar Private Bank loss deepens | South Florida Business Journal: "South Florida’s two big thrift banks focusing on wealth management took different turns in the fourth quarter, with Lydian Private Bank regaining profitability and Gibraltar Private Bank & Trust falling further into the red.
Both banks are under pressure from federal regulators after being hit with enforcement actions in 2010. Laura Craker recently left her post as Gibraltar CFO to become a senior VP at Lydian. Gibraltar then hired banking veteran Adolfo Henriques as its vice chairman, president and COO.
Palm Beach-based Lydian earned $318,000 in the fourth quarter, improved from a $7 million third quarter loss"

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EU urged to follow Italy’s anti-mafia laws

EU urged to follow Italy’s anti-mafia laws - Times LIVE: "After a series of high-profile murders of policemen and magistrates in the 1980s and 1980, Italy adopted trailblazing legislation to combat organized crime syndicates originating from its Southern regions.

It includes measures criminalizing the act of “mafia-like association,” allowing the state-seizure of mafia-linked assets, introducing protection schemes for turncoats and incommunicado prison regimes to stop bosses communicating with accomplices.

“Italy has the most thorough legislation against organized crime, even if this is unfortunately the result of the blood spilled by all of our martyrs,” National Anti-Mafia Prosecutor Piero Grasso said during a visit to the European Parliament in Brussels.

“We need laws that reproduce the global strategy that has been launched in Italy,” Grasso stressed, as he singled out practices in some EU countries which hinder investigative efforts.

“In Luxembourg, bank contracts include a clause which allows clients to be notified immediately if a country seeks information on them — allowing them to flee with all their assets even before a reply is given,” he protested."

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Spanish police helped Britain win Falklands War

Euro Weekly News | Spanish police helped Britain win Falklands War | Spain | News | The Largest English Language Newspapers in Spain: "Spanish police probably altered the course of the Falklands War after stumbling on Argentinean plans to blow up British warships in Gibraltar harbour. A recently reissued documentary, directed by Jesus Mora, refutes Sunday Times claims that the French intelligence service alerted Britain to the plot.

“It was sheer coincidence.  We were looking for a gang of Argentineans, common criminals who stole the La Paz hospital payroll,” explained a now-retired chief inspector from Malaga.

The chief inspector and his officers had been after the gang for weeks and were tipped off by a hire-car firm about some Argentineans who paid in dollars and renewed their contract each week.

They were asked to bring in their cars for servicing but the two men who turned up on May 11 were not the payroll robbers."

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Gibraltar attracting wealth property buyers

Gibraltar attracting wealth property buyers: "Gibraltar is proving to be a magnet for wealthy property buyers who can benefit from fiscal advantages as well as a plethora of new gaming, financial services and entertainment businesses, it is claimed.

In the closing stages of 2010 a handful of high floor apartments in Gibraltar’s award winning Ocean Village marina development were released back to the market for sale. Seven sold within the first week to ‘waiting list’ buyers meanwhile, across a three week period in 2011, a further three properties priced between £280,000 and £470,000 have been snapped up.

‘It’s most reassuring that even amidst an enduring global recession, most notable across the border in neighbouring Spain, properties within our multi award winning residential towers will still sell at high speed. We expected a rush at re-release in November, but to have continued strong sales here in 2011 is very encouraging. The reason for this is a perfect location on both a macro and micro scale,’ said Brian Stevendale, sales and marketing director for Ocean Village."

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Egypt protesters clash with Mubarak supporters

 Egypt protesters clash with Mubarak supporters: "Clashes have erupted in the Egyptian capital between supporters of President Hosni Mubarak and demonstrators calling on him to step down immediately.

Rival groups of protesters are fighting pitched battles in and around Cairo's Tahrir Square. Many people have been wounded and shots have been heard.

The BBC's John Simpson said Mubarak supporters were trying to force the protesters out of the square."

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Egypt unrest puts US military ties to the test

 Egypt unrest puts US military ties to the test: "Upheaval in Egypt has raised fresh questions about the role of US military aid in promoting American interests, as Washington struggles to distance itself from President Hosni Mubarak's autocratic rule.
For Egyptian protesters, F-16 fighters buzzing overhead and Abrams tanks rumbling through the streets symbolize Washington's long-running ties to the Egyptian regime, even as President Barack Obama presses Mubarak to relinquish power.
But for Washington, supplying weapons and training to Egypt and other countries is touted as a wise investment, extending American influence and safeguarding the peace treaty between Egypt and Israel.
US military aid to Cairo, amounting to $1.3 billion a year, represents one of the most prominent and costly examples of how Washington conducts diplomacy through its vast military and defense industry.
But the approach carries risks, as the aid does not ensure Washington's word will be followed while linking the United States to repressive regimes and human rights abuses, from Saudi Arabia to Uzbekistan."

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Gibraltar has been plunged into darkness by the latest power crisis

"Gibraltar has been plunged into darkness by the latest power crisis, highlighting the state of electricity supply and the need for urgent action.

The new power station should have been completed this year, but ironically work on it has not yet even started, so it is difficult to fathom out when it will be in service.

Although the MOD power station also had problems, nothing can be regarded as an excuse for the situation Gibraltar has been going through as a permanent solution should have been in place by now.

The Gibraltar Electricity Authority says it regrets any inconvenience caused to the public as a result of the power cuts, which are affecting various districts."

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Property shares fraudsters jailed transfer money to the gang's front company, Almena Properties in Gibraltar

Gang faces jail for 2012 Games property fraud | News: "Fraudsters who used the lure of the London Olympics to con pensioners into handing over their life savings were facing jail today.


The gang cold-called elderly people at home offering what they claimed was a lucrative property portfolio in Stratford, near the 2012 site.


Fraud squad officers who smashed the racket believe the gang got away with at least £300,000 between 2006 and 2007. Detectives traced up to 90 victims who each lost between £2,500 and £30,000.


Adrian Davison, 42, of south-east London, masterminded the scam, recruiting four accomplices - Andrew Bingham, 72, of East Sussex; Patrick Golding, 29, of Ashford, Kent; Kenneth Mullen, 42, of Lanarkshire, and Derrick Voysey, 63, of Buckinghamshire.


Victims were telephoned from a 'boiler room' office in Barcelona, and urged to invest in bogus property schemes. Once hooked, they were sent glossy brochures and told to transfer money to the gang's front company, Almena Properties in Gibraltar, or to an address owned by Bingham in London."Southwark Crown Court heard the gang sent their victims brochures and told them to transfer money to a Gibraltar-based front company, Almena Properties, or to a London address owned by another member of the crew, 71-year-old Andrew Bingham. A total of £286,000 was swindled from unsuspecting victims between August 2006 and March 2007.

Davison, of Ingleby Way, Chislehurst, Kent, who earlier pleaded guilty to four counts of conspiracy to defraud was given a total sentence of seven years.

Derek Voysey, 64, of Magnolia Dene, High Wycombe, Buckinghamshire, who was found guilty of one count of conspiracy to defraud following a trial last September, was sentenced to 18 months in prison.

Patrick Golding, 40, of Kilburn Park Road, north west London, was sentenced to 20 months in prison.

Kenneth Mullen, 42, of Kenshaw Avenue, Larkhall, South Lanarkshire, Scotland, was sentenced to 30 months in prison.

Bingham of The Mint, Rye, East Sussex is due to be sentenced separately.

Golding, Mullen and Bingham all earlier pleaded guilty to one count of conspiracy to defraud.

Another man, Christopher Fay, 64, of Holburne Road, Blackheath, south east London, who earlier pleaded guilty to one count of entering into an arrangement - money laundering - was sentenced to 12 months in prison.

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