Money laundering: UK regulator investigates Ladbrokes regarding problem gambler ‘hush money’
19 Dec 2018

The United Kingdom’s Gambling Commission has launched an investigation into a report that giant bookmaker Ladbrokes agreed to pay the victims of a problem gambler in order for them not to report the firm to the regulator, according to the Guardian.

The gambler is understood to have used money stolen from his clients to fund his habit, which cost him up to £60,000 in a day.

Five of his victims went on to make a complaint against the bookmaker over the alleged acceptance of stolen funds, the newspaper said, and Ladbrokes agreed to pay the clients almost a £1 million in total, in exchange that they do not report the claim to any regulator.

A spokesman for Ladbrokes reportedly said: “We are cooperating with the Gambling Commission where necessary and have no comment to make at this time.”

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