Investigators: Suspect In Gambling Probe Could Have $4M Stashed
A former state Teamsters boss accused of money laundering and helping to run a multicounty video gambling operation could still have $4 million stashed somewhere, investigators say. A magistrate on Wednesday ordered John Neal held with a cash bond set at $2 million because prosecutors argue he is a flight risk. Earlier this week, authorities raided Neal's Yorktown home, seizing more than $1 million hidden in a fake wall, and closed down more than 20 bars and other businesses believed to be part of the gambling operation. Police also have seized $2 million from financial institutions under state anti-racketeering laws. Madison County Prosecutor Rodney Cummings said investigators believe there is up to $4 million more that they have not located. Neal faces preliminary charges of professional gambling, promoting professional gambling, money laundering and corrupt business influence. The prosecution has until Friday to file formal charges. Madison County Magistrate Steve Clase raised Neal's bond from $1 million full cash to $2 million full cash after Cummings said the defendant was a serious flight risk.
Asked at the end of the hearing if he had any questions, Neal responded: "Just one. Uh, what was it about $4 million?"
More than 28 people besides Neal had been booked into the Madison County Jail in connection with the case. Most face charges of professional gambling and money laundering, and many are part-owners or employees of the bars under investigation.
The arrest came about 18 months after Neal's release from the U.S. Penitentiary in Terre Haute. In May 2000 he pleaded guilty in U.S. District Court in Indianapolis to charges of illegal gambling, money laundering and tax evasion.
Neal resigned as president of the Indiana Conference of Teamsters and of Teamsters Local 135 in Indianapolis in 1996 after being arrested by the FBI.
Neal's probation on his federal convictions prohibits him from holding alcoholic beverage permits or being involved in related businesses, the Indiana Alcohol and Tobacco Commission said in a news release.
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