Assemblymember Wallace: OTB Buyouts Remain Illegal, must be Investigated

In response to reports that the Board of Directors of Western OTB has selected a new president and CEO, Assemblymember Monica Wallace (D-Lancaster) has issued the following statement:

“While the leadership at Western Regional Off-Track Betting may have changed, the issue with the $500,000 severance packages has not. These golden parachutes are still illegal and a flagrant waste of public dollars, and the board should vote immediately to rescind them. I continue to urge the New York State Attorney General and Inspector General to investigate the buyouts and activities of OTB, regardless of who is president and CEO. OTB has a culture of wasteful spending at best and possible corruption at worst. OTB revenue is intended to benefit the public, not line the pockets of top executives and board members.”