"Tom Hyland Card Counting Team" member charged

[garrett]

Thought a few might find this article interesting, came across it tonight in A.C local paper.

Apparently this group is very well known. Pretty stupid to avoid the 10k rule across a bunch of cages in the same casino in such a short period of time.

http://www.pressofatlanticcity.com/n...a4bcf887a.html

[JimmyG_415]

Thought a few might find this article interesting, came across it tonight in A.C local paper.

Apparently this group is very well known. Pretty stupid to avoid the 10k rule across a bunch of cages in the same casino in such a short period of time.

http://www.pressofatlanticcity.com/n...a4bcf887a.html

True, but nice score.
almost 150k.

[Dan Druff]

While I know that some of you don't like garrett, please don't troll in threads like these. I deleted those messages.

This is actually an important topic which I was going to bring up myself.

Some people are ignoring this story because they figure, "I'm not a card counter, so this doesn't affect me."

WRONG.

This isn't at all about card counting. It just so happens that this Dougherty guy made his money through card counting on a blackjack team.

The arrest was actually for "structuring" -- the practice of cashing out large amounts in under-10k increments in order to avoid having to file a CTR form.

For those of you that don't know, the government requires you to fill out a Cash Transaction Report (CTR) whenever more than 10k cash changes hands -- whether you're giving or receiving. This requirement is in place both to prevent money laundering and tax evasion.

Dougherty allegedly cashed out 166k without filing a CTR, by going to the cage each day and cashing out less than 10k.

This is a disturbing development for all high limit gamblers (including poker players), because the government had been relatively lax with enforcing this in casinos up until now.

From what I can tell, Dougherty is not suspected of anything else illegal.

[JSTAT]

While I know that some of you don't like garrett, please don't troll in threads like these. I deleted those messages.

This is actually an important topic which I was going to bring up myself.

Some people are ignoring this story because they figure, "I'm not a card counter, so this doesn't affect me."

WRONG.

This isn't at all about card counting. It just so happens that this Dougherty guy made his money through card counting on a blackjack team.

The arrest was actually for "structuring" -- the practice of cashing out large amounts in under-10k increments in order to avoid having to file a CTR form.

For those of you that don't know, the government requires you to fill out a Cash Transaction Report (CTR) whenever more than 10k cash changes hands -- whether you're giving or receiving. This requirement is in place both to prevent money laundering and tax evasion.

Dougherty allegedly cashed out 166k without filing a CTR, by going to the cage each day and cashing out less than 10k.

This is a disturbing development for all high limit gamblers (including poker players), because the government had been relatively lax with enforcing this in casinos up until now.

From what I can tell, Dougherty is not suspected of anything else illegal.

The banking institution or the casino in this case is required to submit a CTR to the US Treasury, not the individual. Transactions of $10,000,01 and up are reported. Structuring amounts (or cashing/buying in chips) of $5,000 can cause an Suspicious Activity Report or SAR.

Tommy Hyland and his team are high profile blackjack card counters. Hyland has been featured on 60 Minutes and other shows like this one on the Bio Channel, "Breaking Vegas"