Tuesday, Dec. 31, 2002 | 11:17 a.m.
Golf course developer Billy Walters has agreed to a settlement with law enforcement officials to get back $2.4 million seized in a raid on his sports betting operation in 1996.
The stipulated agreement between Walters, the Metro Police Department and the state attorney general's office will be submitted to District Judge Nancy Saitta today, Walters and his attorney Richard Wright said Monday.
Walters agrees to hold harmless both Metro and the attorney general's office for seizing his money and indicting him three times over the past four years on charges that were repeatedly thrown out by the courts.
Two separate payments, one for the $2,436,772 confiscated in 1996 and another for $1,037,877 in interest, will be forwarded to Walters on Friday as part of the settlement.
"The stipulation is all done between the parties," Wright said.
Negotiations began shortly after the Nevada Supreme Court tossed out the third money laundering indictment against Walters. The high court agreed with lower court decisions that police didn't have enough evidence for the case to hold up in court, and the attorney general's office did not appeal.
Walters said he initially balked at a "hold-harmless" settlement because he believes he was the target of repeated law enforcement "witch hunts" overthe past four years.
Walters and three associates, Daniel Pray, James Hanley and John Tognino of New York, were indicted on money laundering charges in April 1998 after the 1996 seizure of Walters' money in cash lock boxes.
Authorities alleged the men unlawfully transferred proceeds from a sports betting operation both within the United States and abroad.
That indictment was dismissed because of defects, prompting the attorney general's office to appeal. But before the high court could rule, the attorney general's office sought a second indictment.
That indictment was also thrown out, and again the attorney general's office appealed and obtained a third indictment before the Supreme Court could rule.
"Obviously the facts bore out that we hadn't done anything wrong," Walters said Monday. "I decided to agree to hold them harmless because I've got no issues with the new attorney general.
"I think the new attorney general we just elected is going to do a good job and I didn't want to sue him for something that took place before him," Walters added.
Retiring Attorney General Frankie Sue Del Papa could not be reached late Monday for comment. Brian Sandoval will be sworn in as attorney general Monday in Carson City.
Outgoing Metro Sheriff Jerry Keller has agreed to the settlement. Bill Young, the former deputy chief, will be sworn in as the new sheriff Monday.
"The people who did this to me are no longer in office," Walters said.
Still, the gambler and golf course developer is not satisfied.
"Forget about what it did to me, I'm a big guy," Walters said. "But for six years, three indictments, that's been very hard on my 700 employees and their families and on my own family."
Chief Criminal Deputy Attorney General Gerald Gardner could not be reached late Monday for comment. He has previously said he believed the cases were meritorious, but that judges left no grounds for further appeal.
"We are necessarily disappointed with the decision of a few weeks ago," Tom Sargent, spokesman for the attorney general's office, said of the decision to dismiss the indictments. "Judges do their job and we certainly support them, but we are going to pursue these kinds of actions as they arise and as we see fit."
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