Lottery Fraud Investigation Goes Nationwide

Lottery Fraud Investigation Goes Nationwide

Ex-lottery official Eddie Tipton, that is suspected of fixing lottery draws in at the least four more states beyond the fraud perpetrated in Iowa.

A probe into lottery fixing in the US escalated this week as authorities expanded their investigation nationwide, fearing that the ex-lottery worker convicted of fixing the Iowa draw may have pulled the trick all around the world.

Eddie Tipton, 52, the director that is former of security during the Multi-State Lottery Corporation, was sentenced to 10 years in prison in September for rigging the Iowa Hot Lotto game in an effort to claim a $14 million prize.

Prosecutors successfully argued that Tipton installed a self-destructing hack program to ensure the random quantity generator used into the draw on December 29, 2010 picked his numbers.

He additionally tampered with surveillance digital cameras so his installation of the computer software could never be detected.

Anonymous Claimant

An endeavor was initially made to claim the prize with a man that is canadian Philip Johnson, who stated he was too sick to collect the money in person, however the claim had been refused because Johnson was unable to validate he was the dog owner of the ticket.

Johnson phoned again several days later stating that the ticket had been, in fact, owned by the individual who wanted to remain anonymous. The Iowa lottery again refused the claim on the grounds that the rules forbade anonymous payouts.

Subsequent ef Continue reading

Wynn Resorts Has Stock Rebound as Steve Wynn Purchases a Million Shares

Wynn Resorts Has Stock Rebound as Steve Wynn Purchases a Million Shares

Bullish on Wynn Resorts: Steve Wynn spends $63.9 million to obtain a million shares and restores market faith in their company.

Wynn Resorts is having a good week.

Steve Wynn’s decision to buy up one million of his own business’s stocks appears to own restored market faith in his company, and a previously delayed opening for his latest Macau endeavor has been once again returned to its opening that is original date.

The company’s stock, which has declined steadily in unison with Macau’s fortunes over the year, rallied in the wake associated with the news that the mogul had spent around $63.9 million to acquire 1,003,977 shares regarding the market that is open at $64.44 each.

It is a move that is incredibly bullish Wynn, whom, despite the slump in Macau, clearly has faith in the long-term profitability of Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip.

The market responded accordingly, and share rates climbed, finishing up at $69.91 at the close of trading on Friday.

Placing His Money Where His Casinos Are

The market always reacts well to bullish stock purchases, especially once they come from the brass that is top. Motley Fool said this week that, despite Macau’s tumbling fortunes, Wynn Resorts stays a proposition that is strong long-term investors.

‘ In this instance, maybe not only is Steve Wynn bullish on his company, he is placing his money where h Continue reading