Feds Raid Bicycle Casino In Bell Gardens In 'Criminal Fraud' Probe

BELL GARDENS (CBSLA.com) — Federal agents Tuesday shut down and raided the Bicycle Hotel & Casino in Bell Gardens as part of a criminal fraud investigation, authorities said.

Authorities with U.S. Immigration and Customs Enforcement's Homeland Security Investigations (HSI) confirmed the raid at the casino complex located at 888 Bicycle Casino Drive but declined to provide details of the raid.

"The search warrant issued by a United States magistrate judge was filed under seal in relation to an ongoing investigation," said Virginia Kice of U.S. Immigration and Customs Enforcement. "Because the warrant is under seal, we are not able to comment on the scope or nature of the investigation."

The raid was a part of a "criminal fraud" investigation, according to KNX 1070's Pete Demetriou.

The raid was conducted by nine state and federal agencies, including the Los Angeles High Intensity Financial Crime Area Task Force, the IRS, the California Department of Justice and the U.S. Attorney's Office, officials said.

A rep told CBS2's Kara Finnstrom the casino would remain closed as the investigation continues. One woman staying at the hotel said guests were not asked to leave.

A statement released by a Bicycle Hotel & Casino said they "are working with authorities and currently do not have additional information. As soon as the federal agents have completed their work, we will be in full operation."

The Bicycle Club was seized in 1990 after investigators said the club was partly built with laundered drug money.