500 Million Gambling Ring BUSTED in Joisy!

OLD HEAD · 03-31-07, 03:54 PM

Former Assemblyman Raul "Rudy" Garcia surrendered to authorities in Monmouth County today after being linked to a gambling ring that allegedly reaped millions in profits from illegal sports betting.

The 43-year-old Garcia, who now works for a Trenton lobbying firm, appeared in a Freehold courtroom where he was formally charged with racketeering, conspiracy to commit money laundering, promoting gambling and conspiracy. Dressed in a dark suit and blue tie, Garcia was led into the courtroom with his hands shackled to his waist.

His arrest brings to 51 the number of people charged as part of Operation Thunderbird, a massive sports betting ring that is believed to have netted $35 million in profits over 16-18 months while taking $500 million in wagers.

Stephen Turano, the attorney representing Garcia, was not in court yesterday, but has denied Garcia was a leader in the ring or promoted gambling.

Garcia is accused of being an agent who placed wagers for bettors. All but three of those arrested were charged with being agents. The ringleaders were identified as Joseph Pasquale, 50, of Mantoloking; Richard Crossan, 48, of Hillsborough; and Ralph Santoro, 52, of Bridgewater. They are being held in the Monmouth County Jail on $1 million bail.

Authorities said bettors could place wagers by telephone or though internet websites that were managed in a wireroom in Costa Rica. Winning bets often were paid in person and losses could be paid through electronic transfers. Bettors were not charged in the investigation.

A former mayor of Union City, Garcia was a one-time ally of U.S. Sen. Robert Menendez, but broke with him in a political feud in the late-1990s. He served in the Assembly from 1993 until 2002.

Garcia, a partner with MBI GluckShaw, took a leave of absence from his job pending the outcome of the investigation, managing partner Clark Martin said. He will have no involvement with MBI GluckShaw partners or the operation of the firm while on leave, Martin said.

These numbers are staggering! 500mil in 16-18 months with 35Mil profit. Make it legal and tax us,that simple! Someone in Govt. must take the lead and get the ball rolling.

Good Luck!

Tommy · 04-01-07, 01:20 AM

Thanks for the article Old Head.

Quote:

These numbers are staggering! 500mil in 16-18 months with 35Mil profit. Make it legal and tax us,that simple! Someone in Govt. must take the lead and get the ball rolling

You would think that would be the logical thing to do.

03-31-07, 03:54 PM	#1 (permalink)
OLD HEAD SCI Veteran Member Join Date: Jul 2005 Location: JOISY !! Posts: 1,554	500 Million Gambling Ring BUSTED in Joisy! Former Assemblyman Raul "Rudy" Garcia surrendered to authorities in Monmouth County today after being linked to a gambling ring that allegedly reaped millions in profits from illegal sports betting. The 43-year-old Garcia, who now works for a Trenton lobbying firm, appeared in a Freehold courtroom where he was formally charged with racketeering, conspiracy to commit money laundering, promoting gambling and conspiracy. Dressed in a dark suit and blue tie, Garcia was led into the courtroom with his hands shackled to his waist. His arrest brings to 51 the number of people charged as part of Operation Thunderbird, a massive sports betting ring that is believed to have netted $35 million in profits over 16-18 months while taking $500 million in wagers. Stephen Turano, the attorney representing Garcia, was not in court yesterday, but has denied Garcia was a leader in the ring or promoted gambling. Garcia is accused of being an agent who placed wagers for bettors. All but three of those arrested were charged with being agents. The ringleaders were identified as Joseph Pasquale, 50, of Mantoloking; Richard Crossan, 48, of Hillsborough; and Ralph Santoro, 52, of Bridgewater. They are being held in the Monmouth County Jail on $1 million bail. Authorities said bettors could place wagers by telephone or though internet websites that were managed in a wireroom in Costa Rica. Winning bets often were paid in person and losses could be paid through electronic transfers. Bettors were not charged in the investigation. A former mayor of Union City, Garcia was a one-time ally of U.S. Sen. Robert Menendez, but broke with him in a political feud in the late-1990s. He served in the Assembly from 1993 until 2002. Garcia, a partner with MBI GluckShaw, took a leave of absence from his job pending the outcome of the investigation, managing partner Clark Martin said. He will have no involvement with MBI GluckShaw partners or the operation of the firm while on leave, Martin said. These numbers are staggering! 500mil in 16-18 months with 35Mil profit. Make it legal and tax us,that simple! Someone in Govt. must take the lead and get the ball rolling. Good Luck! __________________ SHOW NO EMOTION
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