12/08/2003 12:00AM

NYRA board to review deal

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The board of directors of the New York Racing Association is scheduled to meet Wednesday to review a deal with federal prosecutors that would result in an indictment of the association on tax fraud and conspiracy charges but would spare it from a trial, according to an industry official.

The board will be asked to approve the deal, reached last week between NYRA and the office of the U.S. Attorney for the Eastern District of New York, the official said. Under the deal, the association would be required to show that it has addressed problems that led to the convictions of 21 mutuel tellers over the past three years on charges of tax fraud, forgery, and money laundering. Also, its employees would have to avoid any future criminal convictions.