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Thread: Federal warrant executed at Bicycle Casino

  1. #21
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    Quote Originally Posted by snake_in_the_ass View Post
    Quote Originally Posted by ftpjesus View Post
    Story is multi agency task force brought down the hammer for alleged money laundering charges. This is reminiscent of the massive investigation into good ole Sheldon Adelsons Venetian doing similar and cost them an eight figure fine. Reportedly involved in the raid HomeLand Security ICE IRS CA gaming and a few others. Given some of the ABCs involved my guess is this goes beyond just some small time money issues, likely includes international involvement problem is this is much more serious as the Bike is a card room not a typical casino which means collusion and a lot of other things that are the ammo for idiots like Chaffetz and others.

    https://www.pokernews.com/news/2017/...raud-27555.htm
    The Bike was always filled with Mexicans. I wonder if the cartels were washing some money thru the joint?
    Where's Tyde when we need him?
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  2. #22
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    Quote Originally Posted by PokerMentor View Post
    Quote Originally Posted by BartHanson View Post
    From the LATimes article, I mean how can you argue with this logic:

    "A Pai Gow player who joked that he comes to the Bicycle and loses “every day," Taylor said he was not surprised by the flood of police that descended on the building. "Let's put it like this. Gambling is a game of luck. I consider myself a lucky person," he said. "But you can never win at the Bicycle."

    Several others watching from the street also had complaints about the casino — decrying rude pit bosses and raising suspicions that even though “the house always wins,” it won a little too often inside the Bicycle. Rigged gaming, however, did not appear to be the focus of the federal probe."

    Will you still be promoting the Bike on Live at the Bike? after they've been caught in this fraud scheme? Ive heard some high balance players can't cash out fully without filling out personal information, will this be covered on LATB?
    The law requires you to give the casino your social security number for cashouts exceeding $10,000 within a 24 hour period. This also applies to buying in too. Same thing in Vegas. Once they have your social, they never ask for it again. All the casinos got mine in LA.

  3. #23
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    Quote Originally Posted by BartHanson View Post
    From the LATimes article, I mean how can you argue with this logic:

    "A Pai Gow player who joked that he comes to the Bicycle and loses “every day," Taylor said he was not surprised by the flood of police that descended on the building. "Let's put it like this. Gambling is a game of luck. I consider myself a lucky person," he said. "But you can never win at the Bicycle."

    Several others watching from the street also had complaints about the casino — decrying rude pit bosses and raising suspicions that even though “the house always wins,” it won a little too often inside the Bicycle. Rigged gaming, however, did not appear to be the focus of the federal probe."
    Everyone is always skeptical of those shuffling machines. I don't like them either. I request a hand shuffle.

  4. #24
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    Quote Originally Posted by snake_in_the_ass View Post
    Quote Originally Posted by BartHanson View Post
    From the LATimes article, I mean how can you argue with this logic:

    "A Pai Gow player who joked that he comes to the Bicycle and loses “every day," Taylor said he was not surprised by the flood of police that descended on the building. "Let's put it like this. Gambling is a game of luck. I consider myself a lucky person," he said. "But you can never win at the Bicycle."

    Several others watching from the street also had complaints about the casino — decrying rude pit bosses and raising suspicions that even though “the house always wins,” it won a little too often inside the Bicycle. Rigged gaming, however, did not appear to be the focus of the federal probe."
    Everyone is always skeptical of those shuffling machines. I don't like them either. I request a hand shuffle.
    By "everyone" you mean rigtard clowns (which is most gamblers)
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    Bump

    This story sounds kind of savage


    https://www.justice.gov/usao-cdca/pr...iew-anti-money


    "Federal prosecutors say the unnamed whale — described only as a Chinese national — made over 100 visits to the Bicycle Hotel & Casino over eight months in 2016

    Officials at the Bicycle Hotel & Casino in Bell Gardens, Calif., admitted they filed financial reports for a high roller’s huge cash transactions in the name of the gambler’s assistant, which was against the law. AFP/GETTY IMAGES

    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.

    On numerous occasions, the gambler’s assistant would exchange millions in cash for chips, with the high roller cashing in and cashing out approximately $100 million during the course of his months-long gambling spree, prosecutors said.

    When gamblers buy over $10,000 in chips using cash, a casino is required to file a currency-transaction report and a suspicious-activity report with the Department of the Treasury.

    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."
    Last edited by JoeD; 11-08-2021 at 06:10 AM.

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