A former executive at a Las Vegas sports-book initially funded by Cantor Fitzgerald LP avoided prison on charges he took part in an illegal gambling business for reasons that remain secret (United States v. Colbertsealed).
Michael Colbert was sentenced at a hearing in the U.S. District Court for the Eastern District of New York. The transcript of the proceeding is sealed and Judge Jack Weinstein also sealed his reasons for Colbert’s sentence.
Colbert, who pleaded guilty in 2013, faced as long as five years in prison, federal prosecutors said at the time.
Murray Richman, Colbert’s lawyer, said he ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.