Re: \"Wall St. Bets on Gambling on the Web\"- NYT Article
Best quote in the article.
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Legal experts are divided over whether American investors and the investment houses that operate mutual funds could themselves be seen as criminally liable for their actions by providing financial backing for offshore casinos. To be sure, it is not uncommon for Americans to invest in overseas companies whose operations may be considered illegal or unacceptable here, from sweatshop manufacturers to European energy producers that do business in Iran.
The difference with Internet gambling is that the activity takes place on domestic shores - with Americans placing bets online using their home computers - and the Justice Department has stated clearly that the operators are violating American law.
Jaclyn Lesch, a spokeswoman for the Justice Department, said that the agency considered online gambling illegal but declined to "comment on the liability or hypothetical liability of a company or an individual."
But Internet gambling analysts and company executives said that the investments highlight how widely the federal policy is, in essence, being ignored.
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