Michael Colbert Released on Bail

Last week, an illegal sportsbetting scandal led to dozens of arrests from a joint investigation by the Nevada Gaming Control Board and the NYPD.  Arguably, the highest profile name of the accused is Michael Colbert, a sports book director for online gaming site Cantor Gaming.  But less than 24 hours later, Colbert was released on bail according to his attorney Michael Cristalli.

Colbert was indicted as part of a group of 25 defendants.  They were charged with corruption, illegal promotion of national gambling, and money laundering.  The Queens County jurisdiction out of New York filed the warrants for the arrests after uncovering over $50 million made through the illegal operation.

After one night behind bars, Colbert’s attorney negotiated a $50,000 bail for his client to be released from the Clark County Detention Center in Nevada.  He is scheduled to appear in Las Vegas Justice Court today, while also expected to be issued a summons to appear at a court hearing in New York.  The date for that hearing is yet to be determined.

Queen’s County District Attorney Richard A. Brown was the man who made the initial charges after the investigation revealed the enormity of the illegal operation.  Due to Colbert’s position with Cantor Gaming, the investigation was expected to continue by discovering any further links the online gaming site might have to the indicted individuals.  However, Cantor immediately attempted to distance itself from Colbert, suggesting he acted alone on these charges.

Despite Colbert’s bail release, it is expected Nevada Gaming and the NYPD will continue their investigation into him and the entire operation, with cooperation from the FBI.

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