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Weekly Roundup: TARP Bank Forfeits Over $700,000 for Online Gambling Violations, Turkey Plans to Boost Trade with Iran, and More
printThe U.S. Justice Department's crackdown on companies and individuals linked to online gambling continued this week, with a bank in the snares. On Tuesday, Scottsdale, AZ-based Goldwater Bank agreed to pay the Southern District of New York over $733,000 for processing over $13 million in transactions tied to Internet betting between January and March 2009. The bank, which previously received funds from the Capital Purchase Program of the Troubled Asset Relief Program (TARP), processed the Automated Clearing House (ACH) transactions on behalf of Allied Wallet, according to court documents. TARP Special Inspector General Neil Barofsky said in a statement that...
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