Man Jumps from Casino Ship to Escape Loan Sharks

Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed money is all fun and games before you lose all of that money and are forced to remove to your skivvies and jump from your own third flooring cabin window 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 nationwide surnamed Lu discovered that out of the way that is hard week, based on the Chinese language newspaper Ming Pao. He presumably borrowed HK$120,000 (more or less US$15,460) from loan sharks and embarked on a night 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 ploy that is increasingly popular world over.

The ship ended up being someplace near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong if the man made their escape attempt (the loan sharks were presumably up to speed with him) after burning through the lent cash. He wrapped their documents and what little money he 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 picked up by another ship, which immediately brought him, soaking and sullen, to a nearby police place, and then from there to a healthcare facility for a check-up.

As the guy was released by authorities and hasn’t been charged with any crime, the police are clearly the least of his worries at present, over it; people who probably weren’t particularly impressed by his decision to go for a late night swim as he still has a formidable gambling debt hanging over his head, and likely some very angry people looking for him.

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

You are thought by you have a gambling problem? What about $116,000 per month on a slots habit? That’s 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 an astonishing allowance from the person from whom she was then separated.

Washed Out

Contrary to popular belief, there are individuals who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots per se probably will never have raised too numerous eyebrows. Exactly What did catch the interest of investigators, however, was the way in which Mrs. Xiaodong received the sums that are enormous be able to manage to play at that level, because one source suggests 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 relevant 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 regarding the New York Stock Exchange.

Cash Dilemmas

It had been last summer whenever CMT had to shut down, after creditors moved in to gather 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 is now 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 lets players cash away from lengthy durations of slot play with a credit note for the remainder money deposited. The gamer can then simply take that note to 1984 chapter notes a casino cashier, receive a look for the remaining amount, deposit said check in their very own bank account, and declare it as ‘gambling winnings’ on their tax statements ( that are then cancelled out by the same quantity 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 questions about where the money emanated from were what led detectives to look into the CMT cash flow possibility, and the possibility of money laundering of CMT’s massive IPO funds.

Money Speaks

Now CMT’s liquidators are wanting to monitor some $670 million in missing money which was raised throughout the company’s 2005 IPO. Also under investigation are the company’s former finance director Takyung Tsang and his wife.

Is actually a case of dirty laundry.

Macau Gaming Revenues Through the Roof for March

The economy may nevertheless be crawling back on its belly every-where else, but in Macau, money seems 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 successful gambling destination ever will top away at $3.67 billion, a brand 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 other hand of the Coin

Talk about trickle-down economics: seems nearly all of Macau’s casino industry employees are also having a year that is good far. In a 2013 survey referred to as Macau worker Confidence and Satisfaction Index, 1,026 workers responded about their different levels of job satisfaction, along with their job that is overall 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 very nearly a third of the survey respondents employed in Macau’s booming casino industry, it appears that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the satisfaction that is lowest away from the entire gaming employee group. When it comes to income, however, croupiers rake within the greatest satisfaction 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 feels like it.

The Approaching Year

Now it just remains to be seen in the event that rest of 2013 are going to be since profitable as March appears enjoy it will be when all the numbers are completely tallied.

We understand one group especially whom is wishing for continued wealth to come hit 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 award pool of €921,603 (those Euros translate to $1,193,291).

‘we are delighted in order to introduce the Bad that is all-new Beat 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 thirty days making sure that BetVictor could create a few changes that are positive the structure for its players, the jackpot are now able to be won more easily, with more benefiting from the payout too.

‘Will it achieve €1 million? Who knows.? The changes mean it will be won more frequently and by more and more people now,’ explained Horne. ‘The present jackpot will dsicover over €90,000 paid out to opted-in players playing at the exact same stakes as the winner, so even if you’re not at the table where it strikes, you’ll share within the good fortune, and that’s no bad beat.’

Opt In for Players

Players trying to participate in the Bad Beat Jackpot now need to utilize the ‘opt-in’ option that exist on all money tables above €0.10/€0.20, of which point they are going to contribute €0.02 to your increasing jackpot each hand they play a tiny price to cover the opportunity to win a chunk of a big prize.

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

When the lucky winner manages to sweep up the jackpot, 10 percent regarding the award pool are distributed to players who have opted in during the stake level at which the jackpot is hit.

It’s All Yours

In addition, BetVictor, which was established in 1946 and has become among the planet’s leading independent bookmaking and gaming groups, has established that there will be no administration fees involved, therefore the complete jackpot is 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 using the possibility of a payout that is decent.

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