Pensacola Beach residents have assets seized for illegal gambling operations in Okaloosa

The Fort Walton Beach Daily News reports the Internal Revenue Service has seized more than $500,000 from the bank accounts of Larry and Dixie Masino, owners of Racetrack Bingo in Fort Walton Beach. The funds are seized because investigators claim in documents filed in federal court in Pensacola that they were from illegal gambling and “derived from proceeds traceable to violations” that include fraud, mail fraud and money laundering.

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