Las Vegas Sun

November 27, 2009

Currently: 60° | Complete forecast | Log in

Gaming Board sues former Maxim president

Thursday, Feb. 25, 1999 | 11:34 a.m.

According to the complaint, Anderson violated a condition of the Maxim's gaming license that prohibited transfers of more than $200,000 out of the company. The license condition was imposed in April 1997 when the Maxim was facing bankruptcy.

Despite the condition, in December 1997 Anderson transferred $580,000 in cash, real estate of unknown value in Yolo County, Calif., and 1.3 million shares in the Dunes hotel-casino from Baby Grand Corp., the company that owned the Maxim at that time, to the Anderson Family Trust, a fund he controls, alleges the board.

The board filed a complaint against Anderson with the Gaming Commission in December 1997. Last August, after Anderson failed to respond to the complaint, the commission fined him $250,000 and revoked his gaming license.

A court judgement against Anderson will let the board collect the fine through wage garnishment, lien and foreclosure, said Keith Kizer, a deputy attorney general.

"He has not paid that fine, and so now we have to go to court to get a judgement," said Kizer.

Anderson could not be reached for comment. Prosecutors believe he lives in Davis, Calif.

Last April, the Maxim was bought out of bankruptcy by Los Angeles-based West Coast Mortgage Limited Partnership. The resort is operated by Ed Nigro's Max Gaming LLC under a five-year lease with West Coast.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 27 Fri
  • 28 Sat
  • 29 Sun
  • 30 Mon
  • 1 Tue

All events on Friday »