Indiana AG to Appeal Court Ruling that Allows Second Century to Avoid Public Scrutiny of $16 Million of Casino Revenues
By admin - Posted on August 6th, 2007
August 1 2007 -- INDIANAPOLIS, IN – Indiana Attorney General Steve Carter will appeal a Marion Superior Court ruling dismissing a request to force East Chicago Second Century, Inc. (Second Century) to provide an accounting of $16 million in casino revenue. Carter is disappointed the for-profit entity can continue to evade public scrutiny of funds intended to benefit economic development in Northwest Indiana.
Carter has argued that the organization was established for the public’s benefit and therefore should be held accountable and reveal where, and how the funds have been spent over the past decade.
“This organization would not have received the casino revenue if it were not for the economic development it promised to provide the community and it represented to local and state regulators,” Carter said. “I will continue to fight for transparency and integrity when funds intended for public benefit are in question. The aggressive defense against providing an accounting only raises more questions about how the money has been spent.”
In March, the attorney general filed for a public accounting of funds disbursed to Second Century from the state-licensed East Chicago riverboat. (Attorney General’s Counterclaim and Crossclaim for Imposition of Constructive Trust for Public Benefit and Accounting) Second Century then filed a petition seeking to dismiss the claim.
Second Century was formed to receive Casino monies under the Riverboat Gambling Act for the purpose of fostering economic development in East Chicago. Casino monies were distributed according to a formula in an agreement between the Showboat Casino and the City of East Chicago to benefit the public. Two non-profit Foundations were established at the same time and also have received millions of dollars of casino revenues.
Source: Indiana Attorney General
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