Wanted man allegedly used Atlantic City casinos to launder money

Posted: Jun 4, 2021, 4:49 a.m.

Last update on: June 4, 2021, 03:57 a.m.

New Jersey State Police are asking the public for assistance in locating an Atlantic City man who is wanted on multiple charges.

Atlantic City Casinos Money Laundering
Jordan Ragland is wanted by the New Jersey State Police. Law enforcement alleges he used Atlantic City casinos to launder drug money. (Image: NJ State Police /Casino.org)

Law enforcement officials say Jordan Ragland, 29, is on the run. The Atlantic City resident is wanted for various drug, gun and money laundering offenses.

The Bureau of Casino Gambling of the New Jersey State Police Special Investigations Unit launched an investigation into Ragland’s activities at Atlantic City casinos last September. Investigators have linked approximately $ 107,000 of suspicious money laundering transactions to Ragland.

In March, detectives intercepted a package from California bound for the Atlantic City residence in Ragland that contained a large amount of methamphetamine. A search warrant was then executed at the house and police seized more than $ 43,000 worth of drugs, guns and high capacity magazines.

Ragland was not at home at the time of the raid, but his alleged accomplice was. Police arrested James Wright, 35, also of Atlantic City.

Casino money laundering

Casinos have long been the target of criminals seeking to launder their ill-gotten money. It is one of the most important surveillance areas for casinos, and operators spend considerable amounts of money each year to protect their casino cages from illegal use, training staff to detect suspicious activity.

Casinos in the United States must comply with the Bank Secrecy Act (BSA). Passed in 1970, federal law requires financial industries to assist the US government in detecting and preventing money laundering. For many years, only banks and related institutions were required to comply with BSAs. This changed in 2001 when casinos and card clubs were added due to their handling of large volumes of money.

Under the BSA, casinos must file suspicious activity reports (SAR) when a casino “knows, suspects or has reason to suspect that a transaction totaling at least $ 5,000 involves funds derived from activities. illegal, is intended to conceal funds or assets derived from illegal activities. activity, is designed to avoid BSA reporting or record keeping requirements, uses the casino to facilitate criminal activity, and / or is not the kind of transaction in which the particular customer would be expected to engage, and the casino does not know of any reasonable explanation for the transaction after examining the available facts.

The US Financial Crimes Enforcement Network (FinCEN) reports that in 2019, commercial and tribal casinos, as well as card clubs, deposited 51,275 SAR.

Ragland faces dire consequences

The Law Firms of Jonathan F. Marshall, a New Jersey law firm with experience in money laundering, says the penalties for money laundering in New Jersey are substantial. A first degree money laundering conviction can include prison terms of up to 20 years, plus a fine of $ 200,000, or three times the value of the money laundered involved, whichever is greater. of them.

Ragland, of course, is considered innocent until proven guilty. Anyone who knows his whereabouts is urged to call the New Jersey State Police Special Investigations Section, Casino Gaming Bureau, at 609-441-7464.

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