Man sentenced for money laundering
Published: Sun, Jun. 15, 2008 12:30AM
Modified Sun, Jun. 15, 2008 02:25AM
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closeWILMINGTON -- Authorities say the owner of one of North Carolina's largest video-poker vendors has been sentenced to prison for money laundering.
WRAL-TV in Raleigh reported that Michael Waguespack, 39, of Hope Mills was sentenced to five months in prison and five months of house arrest. He also was ordered to pay $4,000 in fines and civil settlements of more than $1 million with the federal government and $230,000 with Cumberland County.
His company, FunTime Amusements, was raided by federal and Cumberland County investigators in 2006. Agents arrested seven people and took 100 machines and more than $1 million.
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State law prohibited cash payouts from the machines at the time and limited the number of machines a business could operate.
Video poker became illegal in North Carolina last July.
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