U.S.
Department of Justice subpoenas major
banks
By
Ryan McLane
The
U.S. Department of Justice has subpoenaed at least four high-profile
investment banks as part of its continuing crackdown on the
online gambling industry.
HSBC,
Dresdner Kleinwort, Credit Suisse and Deutsche Bank were issued
subpoenas in October – shortly after the signing of
the Unlawful Internet Gambling Enforcement Act -- according
to reports from the Sunday Times of London.
HSBC
Bank served as an adviser for 888 Holdings Plc, which floated
on the London Stock market in September of 2005 and Deutsche
Bank and Dresdner Kleinwort Wasserstein served as advisors
to PartyGaming, which floated in June 2005.
"The
subpoenas were issued to firms that had underwritten the initial
public offerings of some of the most popular online gambling
sites that operate abroad," reported The New York Times
Sunday.
The
DOJ is requesting information including emails, telephone
record and financial paperwork as part of the probe, according
to the Sunday Times of London.
A
U.S. Department of Justice spokesperson refused to confirm
who was handling the case, but said that all media inquiries
were to go through U.S. Attorney for the Southern District
of New York's office.
Both
the Department of Justice in Washington D.C. and the U.S.
Attorney's office for the Southern District of New York declined
further comment.
The
reports of subpoenas come one week after the same U.S. Attorney's
office, lead by Michael J. Garcia, charged NETeller co-founders
Stephen Lawrence and John LeFebvre with money laundering.
Both
Lawrence and LeFebvre appeared in U.S District courts last
week and were released on $5 million bail.
Casino
City Reporter Bradley Vallerius contributed to this article.
