When federal agents stormed the sports book at The Palms in October 2007, my gambling sources were alarmed. They initially believed there might be some sort of terrorism raid going on. But then law enforcement served a search warrant at the Poker Palace in North Las Vegas, and it became clear what was going on: the high-rolling Jelinsky brothers were finally taking a tumble.
Michael and Jeffrey Jelinsky gambled millions and were suspected of playing a major role in an international bookmaking and money laundering operation. Since the raid, the brothers and their associates have quietly been attempting to settle the charges they faced. The Jelinskys agreed to plead guilty to illegal gambling and money laundering counts. They are scheduled to be sentenced May 29.