People who enjoy having opinions about the financial system also tend to enjoy comparing trading — or, um, central banking — to gambling. While we’re sceptical of those types of views, this week’s rundown of legal troubles faced by one broker-dealer-affiliated gaming business almost seemed bankish.
CG Technology — formerly known as Cantor Gaming, and an affiliate of Cantor Fitzgerald — is paying $22.5 million in a non-prosecution agreement, with $16.5 million going to US attorneys’ offices in Brooklyn and Nevada and another $6 million going to the Treasury Department. It wraps up an investigation into the gaming company that’s been going on for years. (The WSJ has a good rundown of the history here and here.)Continue reading: There were some problems with a real Wall Street casino