Man Accused of Laundering $1 Million in Order to Pay Gambling Debts

A 43 year old accountant that allegedly stole more than a million dollars to pay off gambling debts has pleaded guilty to money laundering and tax evasion charges this week.

Adam Kamor was caught after he reported losses of $700,000 while gambling at the Mohegan Sun Pocono in Pennsylvania in an IRS tax return. Auditors flagged the return as suspicious as the losses far outnumbered his income, and an investigation occurred. The accountant was found to have laundered money from the now-defunct Decker Accounting, taking in more than $1.35 million in order to pay down debts. He did this by sending money to accounts that he had set up but that the company was unaware existed, then withdrawing the money at ATMs at the casino.

Kamor pleaded guilty and will be sentenced on May 30th. He faces up to 25 years in prison as well as a $750,000 fine, but it's unlikely that he'll face that. In exchange for the plea deal, prosecutors will instead seek a minimum prison term as well as restitution of the $1.3 million stolen.

The defendant declined comment, but CL News will update readers as the sentence is handed down.

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krcoolsongss
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19 February 2019 - 4:02pm
#1

I wonder how long he was gambling with the stolen money. Probably, he didn't start it from the beginning.
Please, share his sentence later Smile

bgsharpe
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19 February 2019 - 4:27pm
#2

I don't know if that's a laundering or stealing or both maybe but that guy really messed it up big time there.

The funny (or stupid) thing is that in fact he report those losses himself in a tax return document otherwise he'd might be still not caught.

He'll definitely be quite lucky if he got away with the minimum prison time sentence and just return the stolen.

idbossulo
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19 February 2019 - 5:02pm
#3

The situation when gambling takes over someone. I think he needs rehabilitation. Hopefully he gets a way out of his problem well

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