The IRS seizes $510,723 from the owners of Racetrack Bingo


Posted on the 10th of November 2015

The IRS seizes $510,723 from the owners of Racetrack Bingo

The IRS has seized $510,723 from four bank accounts that are controlled by the owners of Racetrack Bingo, claiming that the money was “derived from proceeds traceable to violations” that include fraud, mail fraud, money laundering and the operation of an illegal gambling business. Racetrack Bingo is located at 106 Racetrack Rd. NE. Fort Walton Beach, Florida 32547. The IRS investigators allege that Larry and Dixie Masino (who are the owners of Racetrack Bingo), illegally obtained the money. They are seeking forfeiture of the funds and condemnation of a home that the Masinos own which is located at 1500 Via DeLuna Drive on Pensacola Beach. Under state law, commercial bingo halls are operated for the main purpose of raising money for charities.

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