Man to Face 360 Years in Prison for Casino Fraud
Apr 4, 2012
American baccarat fraudsters threatened with hundreds of years in prison.
When casino gambling news report that a fraud in the United States is as punishable as a chainsaw massacre, it is not a joke or a click-bait. It is fully correct.
A California man, 50-years-old, is facing 360 years in prison and $4.5 million in fines (apparently to be returned when he gets put) for fraud scheme that resulted in over $1 million in casino losses. The fraudster, already convicted of 17 counts of mail fraud and conspiracy, hired a group of recruits who would open accounts at multiple casinos to play high roller baccarat games.
After opening the accounts, the gang would pretend to be losing money, while handling the chips to their chief and, subsequently, increase account limits without the intention of paying back the casinos. As rumored, the gang leader paid his men $300 per each of $10,000 credit opened. When casinos attempted to close the accounts and recover the money, already a million has been gone.
Baccarat VIP rooms proved to be the right places to pursue this robbing casino strategy as traditional baccarat is known as the game of kings where large money are put on the bets and the clients are treated as aristocratic elite. Just like at posh hotels, the clients first indulge themselves freely, then pay back. Not often someone dares to question too early and ask for the payment.
Casinos are often subject to fraud. Moreover, the card counting system gangs rake in some major profits from blackjack or poker gambling. This is, however, quite legal if the true card counting without conspiracy occurs. To prevent that, many land-based casinos ban these players from the premises.
Some of the card masters who get banned, seek to continue at online blackjack, especially live dealing version. Some of them continue to win these online tournaments.
For those seeking to learn how to increase their chances, we recommend some of the best blackjack card counting books on the market.