The Fontainbleau has gone through many bidders throughout the past year as they try to move past their bankruptcy. They are still currently holding on to 5 of the top land based casino companies in the world, with the MGM Mirage hotel and casino company being the front runner. One runner who is no longer in the race for good reason has now been exposed for tax fraud.

Luke Brugnara, 46 was one of the bidders on the large unfinished casino property until he was denied by the courts, tossing his bid aside. Apparently they could spot trouble when they see it, and now they are very fortunate for their actions. This month he has pleaded guilty to falsifying tax returns in a federal court.

Brugnara was opening the bid at $200 million for the gambling resort even though he was denied of ownership in 2001. Now, Brugnara has no gambling license and will have three years in jail to think about it. HE faces these charges after selling four properties in Las Vegas and one in San Fransisco without reporting them to the federal courts. It is impossible to believe that he was trying to purchase this property for such a large sum, especially when considering that he was filing for bankruptcy at the same time in the Miami courts. The charges going against him are for improper filing of taxes for the years 2000, 2001, and 2002. He also was indicted in 2008 for very similar charges.

Brugnara was applying for a license for the Silver City Casino in 2001 when his license was rejected. Not only were they not open to his application, there was a unanimous opposition to it. He will now face Judge William Alsup on May 4th for his federal trial concerning his tax issues, and also with charges of obstructing the IRS. The Fontainbleau is now in good hands as it has been awarded to billionaire and casino flipper, Carl Icahn.

Tags: casino, gambling, online