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 until such time you lose all of that money and are forced to strip to your skivvies and jump from your floor that is third cabin aboard the casino ship that 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 last week, according to the china magazine Ming Pao. He allegedly borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked on a evening of gambling aboard the casino ship, which skirts (or rather sails) around Hong Kong’s strict gambling laws by cruising out into international waters, a ever more popular ploy the world over.

The ship ended up being someplace nearby the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong once the man made their escape effort (the loan sharks were presumably up to speed with him) after burning through the lent cash. He wrapped his papers and what little cash he had left in plastic, stripped down, donned a life jacket, and jumped from the screen of his cabin.

Rather than being free to swim to safety and make their wet way house however, he was picked up by another ship, which quickly brought him, soaking and sullen, to a police that is nearby, and then from there to a medical facility for a check-up.

Whilst the man was released by authorities and hasn’t been charged with any crime, law enforcement are certainly https://shmoop.pro/1984-by-george-orwell-part-one-summary/ minimal of his concerns at present, as he still has a formidable gambling debt hanging over his mind, and likely some very angry people looking for him over it; people who probably weren’t particularly impressed by his decision to opt for a late night swim.

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

You are thought by you do have a gambling issue? What about $116,000 per on a slots habit month? 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

Surprisingly, there are individuals who throw money around at that crazy level in Vegas, so wagering $5K a hand at slots per se probably would not have raised too numerous eyebrows. Exactly What did catch the interest of investigators, however, was the way that Mrs. Xiaodong received the sums that are enormous have the ability 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 as well as for living expenses (begging the question of whether her kids had shoes or milk to drink); and maintains she separated from Wu in 2001 and had nothing to do with his business CMT since before its IPO in 2005 regarding the New York Stock Exchange.

Money Dilemmas

It had been summer that is last CMT had to close down, after creditors moved 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 happens to be suing Wu Xiaodong in a civil suit in 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 allows players cash down from lengthy durations of slot play with a credit note for the remainder cash deposited. The player can then just take that note to a casino cashier, receive a look for the remaining quantity, deposit said check in their very own bank account, and declare it as ‘gambling winnings’ on their tax statements ( which are then cancelled away by the same amount in ‘gambling losses,’ of course.)

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

Money Talks

Now CMT’s liquidators are attempting to monitor some $670 million in missing cash that was raised during the business’s 2005 IPO. Also under investigation are the company’s previous finance director Takyung Tsang and his wife.

Could be a full case of dirty laundry.

Macau Gaming Revenues Through the Roof for March

The economy may still be crawling back on its belly everywhere else, but in Macau, money appears to be falling out regarding the sky, at least for its casino that is lucrative industry.

A J.P. Morgan analyst estimates that March gross Macau gaming revenues for the world’s most gambling that is successful ever will top down at $3.67 billion, a brand new monthly record even for Macau. Aided by the last monthly tallies not really in yet, it’s predicted that last intakes could end up at a 25 % enhance over the exact same time in 2012, and it looks like that is as a result of a proliferation of Asian whales, a sector that appears to own exploded by having a 15 to 20 percent development rate this season.

On the other hand associated with the Coin

Talk about trickle-down economics: seems most of Macau’s casino industry workers are also having a good year so far. In a 2013 survey known as the Macau Employee self-esteem and Satisfaction Index, 1,026 employees responded about their various amounts of job satisfaction, in addition to their overall work confidence. Although somewhat down from last year’s Index, the movement downward was discreet enough in order to categorize their emotions as ‘stable’ in the mysterious world of index rankers.

Casinos Employ Many

With nearly a third for the survey respondents working 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 publishing the lowest satisfaction out of the entire gaming employee team. As it pertains to income, however, croupiers rake in the satisfaction that is highest of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and tippers that are also great they win? Sure appears like it.

The ahead year

Now it just remains to be seen in the event that rest of 2013 are going to be because lucrative as March looks want it will be whenever all the true numbers are completely 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 prize that is record-breaking of €921,603 (those Euros translate to $1,193,291).

‘we are delighted in order to launch the Bad that is all-new Beat by having an industry record-breaking prize pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.

Better to Win, More Payouts

Suspended earlier this month so that BetVictor could make a few positive changes to the structure for the players, the jackpot are now able to be won more effortlessly, with more benefiting from the payout too.

‘Will it reach €1 million? Who knows.? The modifications mean it will be won more regularly and by more and more people now,’ explained Horne. ‘The present jackpot will discover over €90,000 paid out to opted-in players playing at equivalent stakes as the winner, so even though you’re perhaps not at the table where it hits, you are able to share within the good fortune, and that’s no bad beat.’

Opt In for Players

Players seeking to participate in the Bad Beat Jackpot now require to utilize the ‘opt-in’ option which can be found on all cash tables above €0.10/€0.20, at which point they are going to contribute €0.02 to your increasing jackpot each hand they play a tiny cost to fund the chance to win a chunk of a huge prize.

In an effort to increase the chances of winning, the new qualifying hand has been paid down from four-of-a-kind eights, to four-of-a-kind deuces.

When the happy winner manages to sweep up the jackpot, 10 % associated with the award pool is distributed to players who have opted in at the stake degree at which the jackpot is hit.

It’s All Your Own

In addition, BetVictor, which was established in 1946 and has become among the earth’s leading independent bookmaking and gaming groups, has announced that there are going to be no administration fees involved, so the complete jackpot are going to be distributed to the players involved.

With increased chances of winning, and a record-breaking award pool of almost one million euros just waiting to burst, BetVictor is certainly going to have its flood gates battered down by those looking to play on low-stakes tables utilizing the possibility of a decent payout.

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