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Mike Colbert, the former executive from Cantor Gaming who ran sportsbooks like those at the M Resort, was expected to plead not guilty later this month for his involvement with an illegal sports betting ring that netted some $50 million. Colbert was charged with eight counts of conspiracy, money laundering and enterprise corruption.
Attorney Michael Cristalli confirmed the anticipated not guilty plea but would not elaborate further when approached by the Las Vegas Review Journal.
Colbert on Thursday did not speak during a procedural hearing in Las Vegas Justice Court.
Cristalli said Colbert's next court appearance in Las Vegas is scheduled for Dec. 3. He remains free on $50,000 bail. Colbert is alleged to have acted as a “money collector/agent” for the sports betting ring.
The criminal investigation is ongoing and has taken a major toll on credit sports betting operations offshore. The probe into potential regulatory violations by Cantor Gaming also continues.
- Gilbert Horowitz, Gambling911.com
