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Site SearchWilmington, N.C. — The owner of one of North Carolina's largest video poker vendors has been sentenced to prison for money laundering, authorities said Friday.
Michael Waguespack, 39, of Hope Mills, was sentenced to five months in prison and five months under house arrest. He also was ordered to pay $4,000 in fines and civil settlements of more than $1 million with the federal government and $230,000 with Cumberland County.
Waguespack's company, FunTime Amusements, was raided by federal and Cumberland County investigators two years ago. Agents seized 100 machines and more than $1 million and arrested seven people.
At the time, state law prohibited cash payouts from the machines and limited the number of machines a business could operate.
Video poker became illegal in North Carolina last July.
Federal authorities said FunTime machines were used for illegal gambling and that Waguespack used his business to launder the illicit proceeds.
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