Swedish businessman used Lucky Lady Casino on El Cajon Blvd. for racketeering

Peter Magnus Karlsson, a Swedish businessman, pleaded guilty today (April 13) to engaging in an international racketeering conspiracy using Lucky Lady Casino and Card Room on El Cajon Boulevard between 55th and 56th streets as a front for illegal bookmaking and other criminal activity. He is the eighth participant in the scheme to plead guilty.

Karlsson helped provide financing to major defendant Sanders Bruce Segal to bankroll gambling activities in Southern California and parts of Arizona. He provided help to Segal in connecting with offshore gambling sites in Costa Rica, Hong Kong, the United Kingdom, and Curacao. In one instance, Karlsson and another defendant picked up a shoebox full of $90,000 in cash from Segal.

Karlsson agreed to forfeit $139,834, which represented his take from the activities.