{"id":6516,"date":"2013-11-13T18:11:44","date_gmt":"2013-11-13T18:11:44","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2013\/11\/13\/nyc-art-world-scion-pleads-guilty-illegal-sports-betting-bus\/"},"modified":"2013-11-13T18:11:44","modified_gmt":"2013-11-13T18:11:44","slug":"nyc-art-world-scion-pleads-guilty-illegal-sports-betting-bus","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2013\/11\/13\/nyc-art-world-scion-pleads-guilty-illegal-sports-betting-bus\/","title":{"rendered":"NYC art world scion pleads guilty illegal sports betting bus"},"content":{"rendered":"<p><!-- Original Post Content --><br \/>\n<img decoding=\"async\" src=\"http:\/\/i39.tinypic.com\/66dgn8.jpg\" alt=\"\" \/><br \/>\n\t<span style=\"font-size: 185px\">Hillel Nahmad exits Manhattan federal court Friday, April 19, 2013, in New York. (photo credit: AP Photo\/ Louis Lanzano)<\/span><\/p>\n<p>\tNEW YORK \u2014 A wealthy New York City art world impresario pleaded guilty on Tuesday to running an illegal sports betting business that was exposed by an investigation of a sprawling money-laundering scheme by Russian-American organized crime enterprises.<\/p>\n<p>\tHillel \u201cHelly\u201d Nahmad had faced charges of racketeering, money laundering and fraud. But those counts were dropped in exchange for pleading guilty to a lesser illegal gambling charge and for agreeing to pay a $6.4 million judgment.<\/p>\n<p>\t\u201cJudge, this all started as a group of friends betting on sports events,\u201d Nahmad said in federal court in Manhattan. \u201cBut I recognize that I crossed a line, and I apologize to the court and my family.\u201d<\/p>\n<p>\tHe added: \u201cIt started as a hobby, but unfortunately it became a business.\u201d<\/p>\n<p>\tNahmad, 35, is the son of prominent Jewish businessman fine art dealer David Namad, whose roots originate in Syria and Lebanon. The family\u2019s worth is estimated at $3 billion.<\/p>\n<p>\tNahmad faces up to 18 months behind bars at sentencing on March 16, but his lawyers said they will argue he has an otherwise clean record and deserves no time. They also said the guilty plea will have no impact on the operation of his gallery on Madison Avenue \u2014 a seller of works by Chagall, Dali, Degas, Monet, Matisse and Warhol.<\/p>\n<p>\tNahmad comes from an art-dealing clan whose collection includes 300 Picassos worth $900 million<br \/>\n\tThe defendant was among more than 30 people charged earlier this year with having roles in the scheme to launder at least $100 million in illegal gambling proceeds through hundreds of bank accounts and shell companies in Cyprus and the United States.<\/p>\n<p>\tThe gambling ring catered mostly to super-rich bettors in Russia. But it also had tentacles in New York City, where it ran illegal card games that attracted professional athletes, film stars and business executives, prosecutors said. Some of the defendants are professional poker players.<\/p>\n<p>\tNahmad comes from an art-dealing clan whose collection includes 300 Picassos worth $900 million, according to Forbes. He\u2019s also known for socializing with Hollywood luminaries and sitting courtside at New York Knicks basketball games.<\/p>\n<p>\tProsecutors had alleged that, along with laundering tens of millions of dollars, Nahmad committed fraud by trying to sell a piece of art for $300,000 that was worth $50,000 less. The judgment requires him to turn over the painting to the government.<\/p>\n<p>\tCopyright 2013 The Associated Press<\/p>\n<hr>\n<h3>Replies:<\/h3>\n<p>No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hillel Nahmad exits Manhattan federal court Friday, April 19, 2013, in New York. (photo credit: AP Photo\/ Louis Lanzano) NEW YORK \u2014 A wealthy New York City art world impresario pleaded guilty on Tuesday to running an illegal sports betting&#8230;<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-6516","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/6516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=6516"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/6516\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=6516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=6516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=6516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}