There are many reasons to support Missouri’s $500 loss limit, however, one of the most overlooked and forgotten reasons for its support is because it is an effective tool for law enforcement officials. The loss limit provides Missourians with unique protection from organized crime and money laundering.
A perfect example of such protections comes from the St Louis Post Dispatch. They reported the story of man who stole $1.6 million from investors in a pyramid scheme and then later robbed at least three banks when the money went dry. What’s interesting to note is that the man made rounds at the casinos in both Atlantic City and the Casino Queen in East St Louis.
He was caught in Kentucky robbing banks and pleaded guilty to conspiracy to commit mail fraud and money laundering, was sentenced to five years in prison and he was ordered to pay $3 million in restitution.
Because of Missouri’s loss limit he was unable to launder any of the money through our casinos and was forced to take his criminal behavior across the boarder and out of our state.
POLICY BRIEF: For more information on how the loss limit helps curb crime please read our policy brief entitled “Loss limits and law enforcement: How Missouri is uniquely protected” and check out all of our policy briefs at CasinoWatch.org. Or you can simply listen to the audio version of this Policy Brief below.