Former Palms Sports Book Manager Guilty in Scheme

By: AP Email
By: AP Email

LAS VEGAS (AP) - A former manager at the Palms race and sports book has pleaded guilty in a betting scheme that defrauded the casino of more than $800,000.

Michael Albanese, 41, admitted in federal court Wednesday to a conspiracy to commit wire fraud.

The Las Vegas Review-Journal reports that his attorney said Albanese was a good guy who got mixed up in bad things.

Two other former sports book employees admitted their role in the scheme earlier this year. The scam ran between 2006 and 2007. It rigged wagers on horse races to defraud the Palms.

Albanese and the other former Palms employees are accused of using their positions to accept invalid wagers on horse races. Winning bets were paid out and losing bets were refunded.

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