October 31, 2012
System designed to prevent misconduct from rogue employees, execs say
Cantor Gaming officials on Monday said the company has been working closely with Nevada gaming regulators after the arrest of Mike Colbert, now a former vice president and director of risk management with the Las Vegas-based company.
Colbert was one of eight people arrested Wednesday in Southern Nevada in connection with a nationwide illegal bookmaking operation that generated $50 million in seven months.
Robert Hubbell, a spokesman with Cantor Gaming in New York, said Colbert was no longer an employee with Cantor Gaming. He said to date the company has “found nothing to indicate that (Colbert) was using our system or accounts for wrongdoing.”
“Although the charges were not related to his responsibilities at Cantor Gaming, it is important to note that our account wagering system is designed to prevent misconduct,” Hubbell said in a statement.
“The former employee’s responsibilities with Cantor Gaming had nothing to do with accepting or distributing patron money.”
Colbert on Monday did not speak during his brief initial procedural hearing in Las Vegas Justice Court.