Man Jumps from Casino Ship to Escape Loan Sharks

Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed cash is all fun and games before you lose every one of that money and are forced to remove to your skivvies and jump from your own floor that is third cabin aboard the casino ship which was the explanation for your short-lived fun and subsequent woes, into the frigid waters of Hong Kong’s Victoria Harbor below.

A Chinese national surnamed Lu found that out the difficult way final week, according to the oriental newsprint Ming Pao. He presumably borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked for a night of gambling aboard the casino ship, which skirts (or rather sails) around Hong Kong’s strict gambling laws by sailing out into international waters, a ever more popular ploy the world over.

The ship had been someplace nearby the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong whenever man made his escape effort (the loan sharks had been presumably up to speed with him) after burning through the lent money. He wrapped his documents and 1984 george orwell book summary just what money that is little had left in plastic, stripped down, donned a life coat, and jumped from the window of his cabin.

Rather than being free to swim to safety and make his wet way house however, he had been found by another ship, which quickly brought him, soaking and sullen, to a nearby police station, and then from there to the hospital for a check-up.

Whilst the man premiered by police and has not been charged with any crime, law enforcement are surely the least of his concerns at present, as he still has a formidable gambling debt hanging over their head, and likely some very angry people looking for him over it; those who probably weren’t particularly impressed by his decision to choose a late night swim.

Chinese Laundry Through the Slots: Money Laundering Alleged for Med Tech Firm

You are thought by you’ve got a gambling problem? Think about $116,000 per month on a slots practice? That’s exactly how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have pumped into the high roller slot machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with a whopping allowance from the person from whom she was then separated.

Washed Out

Believe it or not, you will find individuals who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots by itself probably would not have raised too numerous eyebrows. Exactly What did catch the attention of investigators, however, was the way in which Mrs. Xiaodong received the enormous amounts to manage to afford to play at that level, because one source shows that she may have passed as much as $62 million through the Bellagio slots alone between 2008 and 2012.

The Missus claims she got her gambling money allowance from child care as well as for living expenses (begging the question of whether her kids had shoes or milk to take in); and maintains she separated from Wu in 2001 and had nothing to do with his business CMT since before its IPO in 2005 on the New York Stock Exchange.

Money Dilemmas

It ended up being last summer whenever CMT had to shut straight down, after creditors moved in to collect missing interest re payments from the company, forcing them into liquidation. Those bondholders included GLG Partners, a London firm that manages $26.4 billion in assets; GLG happens to be suing Wu Xiaodong in a suit that is civil California, alleging that Xiaodong stripped assets from CMT and then fed them surreptitiously to his wife, who in turn went them through the fancy Strip slot machines.

How It Works

Here’s the shell game: the casino lets players cash down from lengthy durations of slot play with a credit note for the remainder cash deposited. The gamer can then simply take that note to a casino cashier, get a search for the amount that is remaining deposit said check in their bank account, and declare it as ‘gambling winnings’ on their tax statements ( that are then terminated away by the same quantity in ‘gambling losses,’ needless to say.)

Reports say that Bi Xiaodong declared near to $17 million on her returns in victories between 2009 and 2011, with the loss that is ancillary cancel the wins out. But the questions about where the cash emanated from were what led detectives to look into the CMT cash flow possibility, and the risk of money laundering of CMT’s massive IPO funds.

Money Talks

Now CMT’s liquidators are attempting to track some $670 million in lacking money that has been raised during the business’s 2005 IPO. Also under investigation will be the company’s former finance director Takyung Tsang and his wife.

Might be a full case of dirty laundry.

Macau Gaming Revenues Through the Roof for March

The economy may be crawling back on its stomach every-where else, but in Macau, money seems to be falling out of this sky, at least for its casino that is lucrative industry.

A J.P. Morgan analyst quotes that March gross Macau video gaming revenues for the world’s most gambling that is successful ever will top out at $3.67 billion, a brand new month-to-month record even for Macau. Utilizing the last monthly tallies not in yet, it is predicted that final intakes could end up at a 25 percent enhance over the exact same time in 2012, and it looks like that is as a result of a expansion of Asian whales, a sector that appears to have exploded having a 15 to 20 % development rate this present year.

On the reverse side associated with Coin

Talk about trickle-down economics: seems nearly all of Macau’s casino industry workers are also having a good year so far. In a 2013 survey referred to as Macau Employee Confidence and Satisfaction Index, 1,026 workers responded about their different amounts of job satisfaction, along with their overall task self- confidence. The movement downward was subtle enough to be able to categorize their feelings as ‘stable’ in the mysterious world of index rankers although slightly down from last year’s Index.

Casinos Employ Many

With nearly a third associated with the survey respondents working in Macau’s booming casino industry, it would appear that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the lowest satisfaction out of the entire gaming employee group. When it comes to income, however, croupiers rake into the greatest satisfaction of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and additionally great tippers whenever they winnings? Sure feels like it.

The ahead year

Now it just remains to be seen if the rest of 2013 are going to be as profitable as March looks like it will be when all the true numbers are completely tallied.

We know one group especially whom is wishing for continued wide range to come strike the tables in Macau: the croupiers.

Record-Breaking Poker Jackpot Relaunched

BetVictor Poker recently revamped and relaunched its massive Bad Beat Poker Jackpot with a prize that is record-breaking of €921,603 (those Euros translate to $1,193,291).

‘We’re delighted in order to introduce the all-new Bad Beat Jackpot by having an industry record-breaking reward pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.

Simpler to Win, More Payouts

Suspended earlier this thirty days so that BetVictor could create a few changes that are positive the structure for the players, the jackpot can now be won more easily, with more benefiting from the payout too.

‘Will it achieve €1 million? Who understands.? The changes suggest it will be won more often and by more folks now,’ explained Horne. ‘The current jackpot will discover over €90,000 paid out to opted-in players playing at equivalent stakes as the winner, so even although you’re maybe not during the table where it strikes, it is possible to share into the good fortune, and that’s no bad beat.’

Opt In for Players

Players looking to participate in the Bad Beat Jackpot now need to utilize the ‘opt-in’ option which can be found on all money tables above €0.10/€0.20, Each hand they play a small price to pay for the chance to win a chunk of a big prize at which point they will contribute €0.02 to the increasing jackpot.

So as to raise the chances of winning, the new qualifying hand has been paid off from four-of-a-kind eights, to four-of-a-kind deuces.

When the lucky winner manages to sweep the jackpot up, 10 percent regarding the award pool are going to be distributed to players who’ve opted in at the stake degree at which the jackpot is hit.

It’s All Yours

In addition, BetVictor, which ended up being created in 1946 and is becoming one of many earth’s leading independent bookmaking and gaming groups, has established that there are going to be no administration fees involved, therefore the complete jackpot are distributed towards the players involved.

With increased possibilities of winning, and a record-breaking reward pool of almost one million euros just waiting to burst, BetVictor is certainly going to own its flooding gates battered down by those looking to play on low-stakes tables utilizing the potential for a decent payout.

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