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Former Nun Misused Investor Money For Casino Project - Ordered To Repay $970k!

Tags: casino project, fraud, nun.
Posted on 02 June 2015 by "T".

A former nun was last week ordered by a judge to pay back $970,123 that she received from investors between 2009 and 2011 to manage a casino project in D'Iberville, Mississippi. Sandra Manno, the mayor of Marlton, New Jersey in the 1970s, who reportedly helped legalize gambling in the state, used money for The CanCan Casino Resort and Spa project (expected to open in December this year) to enrich herself, her family, and their friends through generous compensation.

"At one point, CanCan was paying the Manno family $70,000 per month, along with Sandra Manno's expenses," wrote SunHerald reporter Mary Perez. "Manno used the CanCan debit card to withdraw nearly $100,000 from ATMs in less than two years from September 2009 to March 2011, the documents show, and withdrew more than $285,000 in cash while managing the project."

The judge wrote in his opinion: "Sandra Manno has excelled at coming up with concepts for new casinos. She also has a talent for convincing early-stage investors to back her ideas. But she has failed at moving her ventures beyond the concept stage. In addition to lacking the requisite management skills, Manno loves living large. It may be that some degree of flash and pizzazz is necessary to succeed in the casino business, but Manno's ventures have misallocated their seed capital to expensive meals, luxury hotels, first-class travel and premature marketing activities."

source: SunHerald


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3 comments on "Former Nun Misused Investor Money For Casino Project - Ordered To Repay $970k! "

 klash2302/06/2015 15:49:13 GMT
I don't see any details of when she was a nun.All I see is the usual politician thinking that they deserve more than they get and are living the high life on' money belonging to other people.
 pochui03/06/2015 07:38:08 GMT
well well well... curious to see investors flooding their cash into a gambling operation that is managed by a nun? where do we go from here... vodka manufacturing facility operated by the pope or hardcore porn studio run by virgins?
imo those investors should have opted for a lot safer and profitable venture and invested into the expansion of "pochui's ball shave" franchise.
 bowie198429/06/2015 00:42:29 GMT
She was a 'former' nun, and I am pretty sure she was not a saint. Also there is so many ways to cheat people out of their money - without traces - she just had to use the one method where plenty records remained to incriminate her. Nice one.

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