Metaverse Casino Hit With Multi-State Cease and Desist
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Flamingo Casino Club was hit with an emergency cease and desist order from five states. The state securities boards of Alabama, New Jersey, Kentucky, Wisconsin and Texas filed the 22-page order. Law enforcement officials say the operators of the metaverse casino did not disclose their ties to Russia and falsely claimed to have official partnerships with certain legit companies.
The authorities traced the operators of Flamingo Casino Club to Moscow. The operation claimed to give investors some perks, but it doesn't give them any information. It doesn’t give details to buyers, such as its phone number or physical address. Snoop Dogg is the owner of the virtual land on which the operation wants to build a virtual casino.
The Flamingo Casino Club got up and running during the time period when Russia invaded Ukraine. The US authorities found no money going towards helping Ukrainians. State regulators are working on policing the metaverse. The metaversity is a virtual world in which people interact with others and can buy goods and services.
