Lucky Bucks’ bankruptcy trustee has sued the new management of the slot machine operator, seeking to revoke the bankruptcy plan, WSJ Pro Bankruptcy reported. According to a lawsuit filed Tuesday, the trustee for the remnants of Lucky Bucks still in bankruptcy said that the people running the business during the bankruptcy failed to disclose alleged fraud that has led to a multimillion-dollar lawsuit by new owners that were also secured lenders in the business. Earlier this month, the reorganized Arc Gaming and Technologies sued several former Lucky Bucks employees under Georgia’s Racketeer Influenced and Corrupt Organizations Act, seeking the return of more than $200 million in “illegal dividends” and accusing the former managers of defrauding the company, leading to its bankruptcy. The silence about alleged misdeeds before and during the bankruptcy means that millions of dollars that could have gone to other creditors could now be out of reach in state court, according to the Tuesday lawsuit against Arc Gaming. The chapter 7 trustee for the remnants of Lucky Bucks said none of the allegations of “looting Lucky” were disclosed during the bankruptcy. That is despite members of Lucky Bucks’ board, managers and employees being aware of the alleged fraud, said chapter 7 trustee Marc Abrams.
