Threat to Security <\/strong><\/h2>\nThere is no evidence that Wang was involved in any criminality beyond the charges he admitted Wednesday. Nevertheless, US attorney Robert Brewer said in an official statement Wednesday that unlawful financial institutions represented a threat to \u201cthe security of our banking system.\u201d<\/p>\n
Wang\u2019s case is the fourth prosecution in an ongoing investigation into Chinese underground banking in the US.<\/p>\n
The defendant has agreed to forfeit $225,000 to the US government and will be sentenced on Jan. 29.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"An illegal underground banker pleaded guilty Wednesday in a federal court in San Diego to operating an unlicensed money transmitting business. Fan Wang\u2019s operation typically involved supplying Chinese nationals with US dollars, primarily for the purposes of gambling in Las Vegas casinos. The system circumvented China\u2019s restrictions on moving cash out of the country, while […]<\/p>\n","protected":false},"author":36,"featured_media":153722,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"acf":[],"yoast_head":"\n
Las Vegas Underground Banker Pleads Guilty to Funding Casino VIPs<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n