All New York State Criminal Charges Dismissed Against Prominent Southern California Philanthropist In $50 Million Internet Sports Betting And Enterprise Corruption Case - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

All New York State Criminal Charges Dismissed Against Prominent Southern California Philanthropist In $50 Million Internet Sports Betting And Enterprise Corruption Case

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SOURCE Bingham McCutchen LLP

NEW YORK, Aug. 20, 2014 /PRNewswire/ -- The District Attorney's Office for Queens County, New York, dismissed all criminal charges today in its $50 million Internet sports betting and enterprise corruption case against prominent Southern California philanthropist George Molsbarger.  Mr. Molsbarger, 68 years old, of Santa Monica, Calif., heads the Squid and Squash Foundation, a leading and innovative foundation that has given millions of dollars to improving education and the lives of underserved children.

Leading his defense team, Nathan J. Hochman, the chair of Bingham McCutchen LLP's White Collar Investigations and Enforcement Practice, stated: "Mr. Molsbarger is elated to close the books on his involvement with this criminal case."  Mr. Hochman added:  "Actions to dismiss all criminal charges almost two years after indictment do not happen often in our criminal justice system, and we commend the Queens District Attorney's Office for its careful consideration of the all the evidence, its fairness and its decision to do the right thing."

The indictment was originally unsealed on Oct. 25, 2012 and charged Mr. Molsbarger, along with 24 other defendants, with enterprise corruption, promoting sports betting over the Internet, money laundering and conspiracy.  The indictment, which as the government acknowledged at the time was not evidence, set forth allegations of a nationwide and international sports betting operation that used the Internet and brought in over $50 million in 18 months from bettors throughout the United States.  Mr. Molsbarger was looking at a potential jail sentence of 25 years under the indictment.  "Now, Mr. Molsbarger is a free man," said Mr. Hochman.

 

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