Judge Releases Profits of Bicycle Club Manager
A federal judge has signed an order allowing Bicycle Club general manager George Hardie and the partners in his corporation to begin receiving their share of club profits that have been frozen since the Bell Gardens card casino was seized by federal authorities.
The casino, which brings in about $100 million a year, was seized April 3 by the Drug Enforcement Agency and the Internal Revenue Service after authorities showed that laundered drug money was used to help finance construction of the Bicycle Club.
The order also means that Hardie and his partners in Park Place Associates, which owns 35% of the club, have been cleared of any involvement in the money-laundering scheme, according to James Clark, a Park Place attorney. But profits of the club’s majority owners will continue to be withheld until a federal judge can determine whether they were involved in the scheme, Clark said.
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