Industry News

Urban One-Backed Casino Referendum in Richmond Fails

Media firm Urban One poured about $4.3 million into the campaign to convince voters to approve the Richmond Grand Resort & Casino – a project in which it was partnered with Churchill Downs. The referendum failed by a margin of 58% to 42%. Altogether, Urban One and Churchill Downs spent $10 million promoting the project. Urban One founder and board chair Cathy Hughes recently appearedim on Gospel WPZZ-FM, Richmond to discuss the project and the referendum and lamented the amount of money they’d spent on the process, saying, “God has blessed me with enough to build the Richmond Grand. But $10 million is what the final [campaign] bill looks like. Such a waste. I am so mad at this opposition. Do you know how much good I could have done with $10 million? I had to pay the lawyers, the accountants, and the lobbyists… just to get the opportunity for you all to vote.” Casinos have already been approved in four Virginia cities, but the project was extremely controversial in Richmond.

Industry News

Talk Host Ian Freeman Sentenced After Bitcoin Money Laundering Conviction

Ian Freeman (below, left), the co-founder of the independent, nationally syndicated talk radio show “Free Talk Live,” was sentenced to eight years in prison after being convicted in federal court of laundering $10 million in what the feds called “romance scams and other internet fraud.” U.S. Attorney Jane E. Young states, “The defendant’s criminal conduct devastated many vulnerable people. Dozens of victims were identified during the investigation. Many of them lost their life’s savings by way of Freeman’s bitcoin moneyim laundering scheme. The Court recognized that an important part of this sentence was for the defendant to provide restitution to the victims. In financial crimes cases such as this, providing restitution to victims is one of the highest priorities of the U.S. Department of Justice and this Office.” Free Talk Live co-founder Mark Edge (right) tells TALKERS magazine, “It was a sad day for ‘Free Talk Live’ yesterday. Ian, our co-founder, received eight years in prison, followed by two on probation and a $40,000 fine. Restitution and forfeiture are as yet to be determined but will likely be six figures. Ian maintains his innocence but was taken into custody following sentencing. We were prepared for this possibility, as much as we could be. ‘Free Talk Live’ will go on seven nights a week from 7:00 pm to 10:00 pm ET.” See the U.S. Attorney’s Office press release here.