Posted on 11/09/2021 5:09:33 PM PST by ConservativeStatement
These wagers were too rich for the Department of Justice’s blood.
A Los Angeles County casino was hit with a hefty fine for failing to properly alert financial regulators and the Internal Revenue Service when a “high roller” walked in with $100 million in cash to bet on games of baccarat.
Federal prosecutors say the unnamed whale — who was described only as a Chinese national — made over 100 visits to the Bicycle Hotel & Casino over eight months in 2016, often arriving with duffle bags full of cash to bet on marathon sessions of the high-stakes card game.
(Excerpt) Read more at marketwatch.com ...
What about Stephen Paddock?
Chi com scum.
At least we finally know where Jack Ma is.
And here, I thought he was in some Chicom prison.
if he’s losing that, guess he’s not laundering it...
“But prosecutors say the casino routinely filed the forms in the name of the gambler’s assistant, in violation of the law. Last week, the casino reached a nonprosecution agreement with the Department of Justice under which it will pay a $500,000 fine and revamp its anti-money-laundering protocols. “
Diplomatic State department crap must be involved.
It is troubling, if not illegal, that a ChiCom would have access to this much cash in the United States.
Did he win?
A Chinese national? Assuming he made his money in China what business is it of the IRS?
They should be happy he’s losing his money in a US casino
where it will soon be taxed every time it changes hands.
$500K fine?
They probably thought of it as cost of doing business. Like parking tickets.
Was he an Obama-funded Iranian Mullah?
Well, now, that’s different. Oil money causes global warming ya know.
FTA: Federal prosecutors say the unnamed whale....
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Where does a whale get that kind of cash? And does he blubber when he loses?
Assuming he made his money in China what business is it of the IRS?Tell that to G.W. Bush's "homeland Security" stooges that won't allow more than $10K from any source.
1) Chineese produced counterfeit $100 bills or...
2) The casino owners were the ones laundering the money using the Chink national as a patsie.
I guess I need to recalibrate a little!
That’s exactly why, when I need to take $100,000,000 into a casino, I do it quietly and a little at a time...
Fortunately, my 83-year old wife plays those slots slowly and for 6-hours at a stretch, so I never run out of 20-dollar bills to give her...
$100M in hundred dollar bills in a duffel bag? How large in 1M Hindred dollar bills?
Isnt he? Sometimes I have to wonder...
How do you get to be the type of person that has so much money that 100 million doesnt count as money if you do foolish things like gambling in casinos? The rules of all the games are always rigged in the houses favor. Even if youre “really good” at one of them the house is still just going to drain it. If you were that person wouldnt you “gamble” on some strange business idea? What about buying out some guys totally automated ping pong ball manufacturing plant then trying to take on the Chinese on the world market? That would be fun, half way between Monopoly and Risk but with real consequences. Maybe put a bunch of money on some weird crypto and watch charts bounce? Maybe youre the type to try to have a special sort of relationship with some Islamic leaders daughter, now thats gambling.
When the average person gamble by buying a lottery ticket or dropping $20 in a slot then its not really the same sort of gambling. Your not really risking anything, its more a recreational opportunity to allow yourself to dream of what you would do with the jackpot.
So the person in question is so wealthy they dont have to do the recreational common mans gambling because they are already there but how did they get there and stay there doing things like throwing away $100 million?
These situations always just strike me as though the person is there with the intent of giving away the money. Of course, all the powers behind casinos are all straight collar on the up and up guys so there certainly wouldnt be any reason to suspect them of doing/coordinating/facilitating anything that would require large clandestinely paid payments.
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