{"id":1333,"date":"2024-11-21T13:11:48","date_gmt":"2024-11-21T14:11:48","guid":{"rendered":"http:\/\/buckinghamshire-removals.co.uk\/?p=1333"},"modified":"2024-11-21T14:11:49","modified_gmt":"2024-11-21T14:11:49","slug":"former-ceo-of-gambling-site-turned-crypto-mining-project-facing-us-bribery-charges","status":"publish","type":"post","link":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/2024\/11\/21\/former-ceo-of-gambling-site-turned-crypto-mining-project-facing-us-bribery-charges\/","title":{"rendered":"Former CEO of Gambling Site-Turned Crypto Mining Project Facing US Bribery Charges"},"content":{"rendered":"<div style=\"margin-top: 0px;margin-bottom: 0px\" class=\"sharethis-inline-share-buttons\"><\/div>\n<p>The former CEO of online sports lottery site 500.com-turned cryptocurrency mining project BIT Mining is the subject of a bribery investigation by US officials. Zhengming Pan faces four Foreign Corrupt Practices Act (FCPA) charges, the law preventing US citizens or entities from giving bribes to international government officials.<\/p>\n<p>BIT Mining will pay $6m to the Department of Justice and $4m to the SEC after entering a prosecution agreement over its two FCPA breaches. The <a href=\"https:\/\/www.vegasslotsonline.com\/news\/2020\/09\/25\/kimihito-kamori-receives-ten-month-prison-term-in-500-com-bribery-trial\/\">company allegedly paid $1.9m in bribes to government officials in Japan<\/a> to try to win an integrated resort casino license.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>tried hiding the payments through fake consulting contracts<\/p>\n<\/blockquote>\n<p>Pan allegedly ordered directors to do so; they tried hiding the payments through fake consulting contracts. Incentives included cash, luxurious vacations, and other forms of entertainment.<\/p>\n<p>500.com ultimately didn\u2019t receive one of the three available IR licenses, with <a href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/09\/10\/mgm-is-full-steam-ahead-with-japan-casino-after-eliminating-early-exit-clause\/\">MGM Resorts International the only company receiving a permit to date<\/a>.<\/p>\n<p>Talking about the case, SEC Enforcement Division\u2019s FCPA Unit Chief Charles Cain said that corruption distorts \u201cthe orderly operation of the markets and undermines investor confidence.\u201d<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/11\/21\/former-ceo-of-gambling-site-turned-crypto-mining-project-facing-us-bribery-charges\/\">Former CEO of Gambling Site-Turned Crypto Mining Project Facing US Bribery Charges<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.vegasslotsonline.com\/news\">Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"text-justify mb-2\" >The former CEO of online sports lottery site 500.com-turned cryptocurrency mining project BIT Mining is the subject of a bribery investigation by US officials. Zhengming Pan faces four Foreign Corrupt Practices Act (FCPA) charges, the law preventing US citizens or entities from giving bribes to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1333"}],"collection":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1333"}],"version-history":[{"count":1,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1333\/revisions"}],"predecessor-version":[{"id":1334,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1333\/revisions\/1334"}],"wp:attachment":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1333"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}