Online Gambling Empire of Gibraltar in Hot Seat Over Bernie Madoff

It's home to some of the biggest online gambling companies in the world, including PartyGaming.  Now Gibraltar is being reviewed for its apparent connection to swindler Bernie Madoff.

The New York Daily News on Tuesday reported that "The Rock" may be where Madoff has his hidden stash.

From the Daily News:

"The court-appointed trustee hunting down Madoff's assets across the globe says he has found a treasure-trove in Gibraltar, a British territory that has earned a reputation as a haven for online gambling and lax corporate oversight."

While Gibraltar has always been considered one of the most stringent of licensing authorities in the online gambling sector, Manhattan federal prosecutors are already dealing with one Gibraltar resident who decided to cooperate with authorities.  Indian billionaire Anurag Dikshit co-founded Gibraltar-based PartyGaming.  The 37-year old said 85 percent of the site's revenue came from the United States and has agreed to forfeit $300 million to the US government.  He is also cooperating in a federal probe of Party and its execs.

Jagajeet Chiba, Gambling911.com