News

ATM operator stole casino's cash to pay off debts

June 7, 2009

The StarPhoenix: A Saskatoon man has confessed to stealing from the Saskatchewan Indian Gaming Authority, or SIGA, which says it lost $1.2 million when an ATM company failed to make payments to the casino operator. Alain Germain, 50, said he funneled money meant for SIGA into his company's bank account and then used some of the money to pay investors and outstanding bills. Bank records show that about $939,000 was transferred into Germain's Cash is King bank account. SIGA is now preparing a civil lawsuit against Germain and several other defendants, including his business partners and two banks. SIGA still has not recovered the $1.2 million it says went missing in the transactions. Six casinos in Saskatchewan are operated by SIGA, which pulls in annual revenue of more than $200 million and profits of more than $60 million.

Click to continue