ARC Gaming and Technologies, formerly known as Lucky Bucks, has filed a RICO lawsuit against its former executives, accusing them of orchestrating a massive fraud scheme that allegedly siphoned off around $200 million from the company before its bankruptcy. 

Lawsuit Unveils Alleged Systematic Looting of Lucky Bucks by Former Executives

The lawsuit, which was announced on January 2, alleges that the accused individuals engaged in a systematic looting of Lucky Bucks, diverting funds through various illicit means. Lucky Bucks, a major player in Georgia’s coin-operated amusement machine industry, filed for Chapter 11 bankruptcy in June 2023, citing increased competition and regulatory pressures.

ARC Gaming and Technologies claims that the defendants, including founder Anil Damani, Tony Kassam, and Imran Ali, orchestrated a complex scheme involving fraudulent transactions, misappropriation of trade secrets, and breaching fiduciary duties. 

The lawsuit also alleges that the former executives utilized shell companies and competing businesses under their control to divert contracts and assets away from Lucky Bucks.

The company accuses Damani and his associates of borrowing hundreds of millions of dollars from lenders, only to distribute the majority of the funds among themselves. The complaint further details instances of selling customer contracts back to Lucky Bucks at inflated rates and the removal of serial numbers from machines before selling them in various states.

ARC Gaming Seeks Redemption After Restructuring Triumph

The lawsuit was initiated after a comprehensive investigation by industry professionals hired by new shareholders in September 2023 to review Lucky Bucks’ operations. Forensic investigators and litigation case analysis, combined with employee interviews, contributed to the formal complaint being filed.

Despite Lucky Bucks successfully emerging from Chapter 11 bankruptcy in October 2023, ARC Gaming and Technologies is determined to hold the former executives accountable for their alleged criminal activities. The company aims to recover the stolen funds and assets, including $200 million in what they describe as “fraudulent and illegal dividends.”

Anil Damani, the founder and former owner, denies all allegations, stating that the claims are baseless and frivolous. Damani’s attorneys assert that he is a successful businessman and a pillar of the community, expressing confidence in defeating the claims in court.

As legal proceedings unfold, ARC Gaming and Technologies remains focused on its future, having completed a successful restructuring process and positioned itself as a strong contender in the Georgia coin-operated amusement machine industry. The company is set to announce new appointments for key executive positions, ensuring a dedicated management team committed to responsible governance and growth.

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This is the opinion of a New York court which reviewed the case of state local Wayne Chan who sued the casino property in September 2021 after he lost $469,125 at the casino’s craps games. The incident dates back to 2018 and 2019, and the company denies wrongdoing.

High Roller Gambler Fights Casino in Court over “Owed” Amount

In fact, Chan is said to owe the casino $200,000. However, Chan has been adamant in his resolve, alleging that the casino had marked the dice with the table number and used nontransparent dice which violates state laws in New Jersey.

Chan has outright accused the casino of cheating. His lawyers have delivered a passionate case for their client, arguing that the use of non-transparent dice was indeed a forbidden practice that could lead to the usage of weighted dice and ensure that consumers are being cheated.

“These illegal practices placed Plaintiff at an even greater disadvantage when the games are already stacked against the players and in favor of the casinos,” a letter by Chan’s lawyers said. The rule about transparent dice is clearly embedded in New Jersey’s gambling framework.

Chan and his legal team further allege that the casino operations manager knew about the issue and admitted having been doing it “for years” without any objections. The plaintiff now alleges that the casino – and its operations manager in particular – knowingly and purposefully breached the regulations outlined by the Division of Gaming Enforcement in New Jersey.

The $200,000 allegedly owed to the casino by Chan was part of a summary judgement that the property sought against their former client.

However, this judgement was “premature” and the Appellate Division, First Department in Manhattan said that the state regulator, the New Jersey Division of Gaming Enforcement will now have to take a closer look at the matter and decide what had been going on and whether the use of non-transparent dice, both by the testimony of Chan and alleged admittance of the casino operations manager indeed checked out with state laws.

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One of the alleged victims of the famous actor from “Dances with Wolves,” Nathan Chasing Horse, recently spoke out, accusing him of sexual assault and sharing her heartbreaking story. Corena Chasing Horse, now known as Corena Leone, is one of the two alleged victims of the famous actor.

Nathan Chasing Horse was arrested on January 31, 2023, after authorities executed a search warrant at his home in North Las Vegas where he resided with his wives. After he was taken into custody, in mid-February, the actor was indicted in Clark County by a grand jury for a total of 19 counts.

The indictment included 10 counts of sexual assault against a minor under the age of 16. Additionally, Chasing Horse was charged with first-degree kidnapping of a minor, as well as six counts of sexual assault with open and gross lewdness and controlled substance trafficking.

Last week, the drug charge against the actor was dropped, but the other 18 counts remained in place. Chasing Horse remains in custody at the Clark County Detention Center located in downtown Las Vegas, while his bail is set at $300,000.

A Sexual Predator

In a recent interview for KLAS, Leone, one of the alleged victims of Chasing Horse spoke about the physical and mental abuse, as well as the sexual assaults she endured. Although the first sexual assault happened back when she was 14 and she is now 25, Leone said she wanted to speak out and encourage others to also share if they were victims of Chasing Horse. “I just want to encourage them to not be afraid because this is bigger and this is more than just what happened to us and that this could be helping other little girls,” said Leone during her recent interview.

Leone claimed that her first encounter with Chasing Horse happened back when she was 14. At the time, she claimed, he took her to a closet and asked her to take off her dress. Then, after Chasing Horse allegedly raped her, Leone was given a birth control pill by him.

The victim claimed that Chasing Horse had other sexual encounters with her when she was 16. This is when he reportedly also asked the young girl to become his wife, Leone claimed. Given that her mother was allegedly part of Chasing Horse’s cult popular as “The Circle,” she deemed that request as an honor at the time.

At the age of 18, Leone moved in with Chasing Horse and the sexual assaults exacerbated. Additionally, she claimed she was physically and mentally abused and the actor even made her have sex with other men while blindfolded. After escaping from Chasing Horse in 2021, Leone shared her allegations on social media in 2022.

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