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 enjoyable and games until you lose most of that money and are forced to remove to your skivvies and jump from your third flooring cabin window aboard the casino ship which was the cause of your short-lived fun and subsequent woes, into the frigid waters of Hong Kong’s Victoria Harbor below.
A Chinese nationwide surnamed Lu found that out the hard way last week, in accordance with the oriental newsprint Ming Pao. He allegedly 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 ploy that is increasingly popular world over.
The ship ended up being somewhere close to the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong as soon as the man made his escape attempt (the loan sharks were presumably on board with him) after burning through the lent cash. He covered his documents and exactly what little cash he had left in plastic, stripped down, donned a life coat, and jumped from the screen of his cabin.
Rather than being free to swim to safety and make their damp way home however, he had been acquired by another ship, which quickly brought him, soaking and sullen, to a police that is nearby, and then after that to a medical facility for a check-up.
Whilst the man was released by police and has not been charged with any crime, law enforcement are undoubtedly the least of his concerns at the moment, as he still has a formidable gambling debt hanging over their mind, and likely some extremely angry people looking for him over it; people who probably weren’t particularly impressed by his decision to go for 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 on a slots habit month? That is just how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have moved into the high roller slot machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with an impressive allowance from the man from whom she was then separated.
The truth is, you will find those who throw money around at that crazy level in Vegas, so betting $5K a hand at slots by itself most likely wouldn’t normally have raised too numerous eyebrows. Exactly What did catch the interest of investigators, however, was the way in which Mrs. Xiaodong received the enormous sums to be able to afford to play at that level, because one source shows that she could 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 and for living expenses (begging the question of whether her kids had footwear or milk to drink); and maintains she separated from Wu in 2001 and had absolutely nothing to do with his business CMT since before its IPO in 2005 on the New York Stock market.
It ended up being summer that is last CMT had to shut down, after creditors relocated in to get missing interest payments from the company, forcing them into liquidation. Those bondholders included GLG Partners, a London firm that manages $26.4 billion in assets; GLG has become suing Wu Xiaodong in a civil suit in Ca, alleging that Xiaodong stripped assets from CMT and then fed them surreptitiously to his wife, who in turn ran them through the fancy Strip slots.
How It Works
Here’s the shell game: the casino allows players cash out from lengthy durations of slot play with a credit note for the remainder cash deposited. The ball player can then just take that note to a casino cashier, receive a search for the amount that is remaining deposit said sign in their own bank account, and declare it as ‘gambling winnings’ on their taxation statements ( that are then terminated down by the same amount in ‘gambling losses,’ needless to say.)
Reports say that Bi Xiaodong declared close to $17 million on her returns in wins between 2009 and 2011, with the ancillary loss to cancel the wins out. But the concerns about where the money emanated from were what led investigators to look into the CMT cash flow possibility, and the probability of money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are wanting to track some $670 million in missing cash that has been raised through the business’s 2005 IPO. Also under investigation would be the company’s previous finance director Takyung Tsang and his wife.
Might be a case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may still be crawling back on its stomach every-where else, however in Macau, money seems to be falling out regarding the sky, at the 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 successful gambling destination ever will top down at $3.67 billion, a new month-to-month record even for Macau. A sector that appears to have exploded with a 15 to 20 percent growth rate this year with the final monthly tallies not even in yet, it’s predicted that final intakes could end up at a 25 percent increase over the same time in 2012, and it looks like that’s thanks to a proliferation of Asian whales.
On the reverse side of the Coin
Talk about trickle-down economics: seems most of Macau’s casino industry employees are also having a good year so far. In a 2013 study referred to as Macau Employee Confidence and Satisfaction Index, 1,026 employees responded about their various levels of job satisfaction, along with their overall work confidence. Although somewhat down from last year’s Index, the movement downward ended up being subtle sufficient to be able to categorize their feelings as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With very nearly a third associated with survey respondents involved in Macau’s booming casino industry, it seems that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the satisfaction that is lowest out of the entire gaming employee team. With regards to income, however, croupiers rake in the greatest satisfaction of any of workers, gaming and non-gaming alike. Could all those incredibly wealthy Asian whales be both impossibly demanding and tippers that are also great they https://shmoop.pro/1984-by-george-orwell-part-one-summary/ win? Sure appears like it.
The Year Ahead
Now it just remains to be seen if the rest of 2013 is as lucrative as March appears enjoy it will be whenever all the true numbers are entirely tallied.
We understand one group particularly whom is wishing for continued wealth 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 record-breaking prize pool of €921,603 (those Euros translate to $1,193,291).
‘We’re delighted in order to launch the Bad that is all-new Beat by having an industry record-breaking award pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
More straightforward to Win, More Payouts
Suspended earlier this month in order that BetVictor could produce a few changes that are positive the structure for its players, the jackpot is now able to be won more easily, with more benefiting from the payout too.
‘Will it achieve €1 million? Who understands.? The changes mean it will be won more regularly and by more and more people now,’ explained Horne. ‘The current jackpot will discover over €90,000 paid out to opted-in players playing at exactly the same stakes as the winner, so even if you’re maybe not during the table where it strikes, you can share in the good fortune, and that’s no bad beat.’
Opt In for Players
Players seeking to participate in the Bad Beat Jackpot now need to make use of the ‘opt-in’ option which can be found on all cash tables above €0.10/€0.20, of which point they will add €0.02 towards the increasing jackpot each hand they perform a small price to cover the chance to win a chunk of a large prize.
In order to boost the chances of winning, the new hand that is qualifying been paid down from four-of-a-kind eights, to four-of-a-kind deuces.
Whenever the lucky winner manages to sweep the jackpot up, 10 percent regarding the reward pool is distributed to players that have opted in at the stake level at which the jackpot is hit.
It’s All Yours
In addition, BetVictor, which had been created in 1946 and became among the earth’s leading independent bookmaking and gaming groups, has established that there are no administration fees involved, so that the complete jackpot will likely be distributed towards the players involved.
With increased opportunities of winning, and a record-breaking award pool of almost one million euros just waiting to burst, BetVictor is certainly going to own its flood gates battered down by those looking to play on low-stakes tables utilizing the possibility of a decent payout.