Forfeiture actions result in remission of more than $2.8 million to Okaloosa victim charities

Date: Sept. 25, 2025 Contact: [email protected]

Pensacola, FL - John P. Heekin, United States attorney for the Northern District of Florida, announced today that more than $2.8 million in unlawfully retained bingo profits forfeited through criminal asset forfeiture actions have been sent to ten Okaloosa County charities as part of the Department of Justice's remission process.

U.S. Attorney Heekin said, "Victims of crime too often suffer losses at the hands of criminals that cannot ever be restored, but my office is committed to taking action to ensure those offenders cannot reap or retain the benefits of their wrongdoing, and we will remit the proceeds of those forfeitures whenever possible to compensate victims to the greatest extent. This case required substantial effort from our state and federal law enforcement partners to investigate and bring the defendants to justice, and this multi-million-dollar recovery by my office and remission to victim charities will have a meaningful impact on our community."

Larry and Dixie Masino were federally prosecuted and sentenced for illegal gambling and money laundering charges stemming from their ownership and operation of Racetrack Bingo in Fort Walton Beach, which purported to conduct bingo games and provide the proceeds to a group of local non-profit organizations. The Masinos made it appear that Racetrack Bingo was running charitable bingo when they were actually illegally conducting bingo and pocketing a substantial amount of the proceeds for themselves. Between 2006 and 2015, the Masino family personally retained and laundered over $5.8 million in illegal gambling profit that should have either gone to charities running the bingo games or returned to the players in the form of prizes.

As part of their sentences, the Masinos were ordered to forfeit substantial sums of money seized from bank accounts and three real properties. Funds forfeited and deposited into the Department of Justice Assets Forfeiture Fund may be used to compensate victims and restore losses caused by criminal conduct. The United States attorney for the Northern District of Florida requested and received permission from the Department of Justice's Money Laundering and Asset Recovery Section (MLARS) to remit the forfeited funds back to the victim charities. MLARS administers the Department's Asset Forfeiture Program victim compensation process to ensure forfeited funds are returned to victims when possible.

The forfeited assets in this case were converted to over $2.8 million, which will be shared among the following member non-profit organizations making up Fort Walton Beach Charities LLC:

• The ARC of the Emerald Coast, formerly Horizons of Okaloosa County, Inc.;
• Boys and Girls Club of the Emerald Coast;
• Emerald Coast Science Center;
• Habitat for Humanity in Okaloosa County;
• Horizons Foundation of Okaloosa County;
• Mental Health Association of Okaloosa and Walton Counties;
• Northwest Florida Ballet;
• Northwest Florida Fair Association;
• Okaloosa County Festival Association; and
• Order Sons of Italy in America, Joseph B. Franzalia Lodge 2422.

"Through financial fraud, Larry and Dixie Masino betrayed charities providing important services to their communities," said Special Agent in Charge Ron Loecker, IRS Criminal Investigation Tampa Field Office. "I am proud of the work IRS Criminal Investigation special agents, our federal, state, and local law enforcement partners, along with the U.S. Attorney's Office did to ensure these charities were made whole again."

"After all these years of investigation and legal battles, I am thrilled to see these forfeited funds returned to the deserving charities of Okaloosa County," said Sheriff Eric Aden. "This long-awaited justice not only holds the perpetrators accountable but also restores vital resources to organizations that uplift our community."

The forfeiture actions were the result of a joint investigation by the Florida Department of Law Enforcement, the Internal Revenue Service-Criminal Investigation, Federal Bureau of Investigation, and the Okaloosa County Sheriff's Office. The case was prosecuted by Assistant United States Attorney Alicia H. Forbes.

IRS Criminal Investigation (IRS-CI) is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. IRS-CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a 90% federal conviction rate. The agency has 19 field offices located across the U.S. and 14 attaché posts abroad.