INDIANAPOLIS (Legal Newsline) -- A private Indiana business that has received over $16 million from East Chicago riverboat casinos revenues without providing an accounting to the public will now have to face the State Supreme Court.

Indiana Attorney General Steve Carter, who will personally attend the hearing, filed for a public accounting for funds given to Second Century, Inc. in March 2007 from the state-licensed East Chicago riverboat.

Second Century was allowed to shield its financial records from the public following an Indiana Court of Appeals ruling that affirmed the Marion Circuit Court's dismissal of the case. Carter then petitioned the State Supreme Court to hear the case.

Carter has sought to find out how $16 million in funds given to a private development firm from the riverboat casino revenues was spent.

"There has been no proof that these funds intended for economic development have not been wasted. The public is left to wonder how the $16 million has actually helped them," Attorney General Carter said.

The City of East Chicago entered into an agreement in the 1990s that required some of the gaming revenue earned by the riverboat to go to the city.

"There is a strong basis for moving forward and continuing to present the arguments that this entity should be accountable for $16 million that appears to have vanished," Attorney General Carter said. "There has been no proof that these funds intended for economic development have not been wasted. The public is left to wonder how the $16 million has actually helped them."