Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed cash is all fun and games unless you lose most of that money and are forced to remove to your skivvies and jump from your own 3rd floor cabin window aboard the casino ship that was the reason for 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 way that is hard week, in accordance with the oriental newspaper Ming Pao. He allegedly borrowed HK$120,000 (more or less 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 sailing out into international waters, a ever more popular ploy the world over.

The ship ended up being someplace near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong as soon as the man made his escape effort (the loan sharks had been presumably up to speed with him) after burning through the lent cash. He wrapped their documents and what money that is little 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 his wet way house however, he was acquired by another ship, which immediately brought him, soaking and sullen, to a nearby police place, and then after that to the hospital for a check-up.

As the guy premiered by police and has not been charged with any crime, law enforcement are clearly the least of his worries at present, as he still has a formidable gambling debt hanging over their mind, and likely some very angry people looking for him over it; people https://shmoop.pro/1984-by-george-orwell-part-one-summary/ 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 think you’ve got a gambling issue? How 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 moved into the roller that is high machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with a whopping allowance from the man from whom she was then separated.

Washed Out

Believe it or not, you will find people who throw money around at that crazy level in Vegas, so betting $5K a hand at slots by itself most likely will never have raised too numerous eyebrows. What did catch the eye of investigators, however, was the way in which Mrs. Xiaodong received the sums that are enormous manage to afford to play at that level, because one source shows that she might 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 nothing to do with his business CMT since before its IPO in 2005 regarding the New York Stock market.

Cash Dilemmas

It had been last summer whenever CMT had to shut straight 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 is currently suing Wu Xiaodong in a suit that is civil 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 out from lengthy periods of slot play with a credit note for all of those other cash deposited. The ball player can then take that note to a casino cashier, get a search for the remaining quantity, deposit said check in their particular bank account, and declare it as ‘gambling winnings’ on their tax statements ( that are then terminated out by the same amount in ‘gambling losses,’ of course.)

Reports say that Bi Xiaodong declared near to $17 million on her comes back in victories 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 chance of money laundering of CMT’s massive IPO funds.

Money Speaks

Now CMT’s liquidators are attempting to monitor some $670 million in lacking money that was raised through 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 remain crawling back on its belly everywhere else, however in Macau, money appears to be falling out in clumps of the sky, at the 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 new monthly 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 Side for 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 survey known as the Macau worker Confidence and Satisfaction Index, 1,026 workers responded about their various levels of job satisfaction, along with their job that is overall self- confidence. Although somewhat down from final year’s Index, the movement downward ended up being slight sufficient in order to categorize their feelings as ‘stable’ in the mysterious world of index rankers.

Casinos Employ Many

With almost a third of the survey respondents involved in Macau’s booming casino industry, it would appear that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the lowest satisfaction out of the entire gaming employee group. When considering to income, however, croupiers rake in the highest satisfaction of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and additionally great tippers when they winnings? Sure feels like it.

The Coming Year

Now it just remains become seen if the rest of 2013 are going to be because lucrative as March looks want it will be when all the true numbers are entirely tallied.

We know one group specially 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 prize that is record-breaking of €921,603 (those Euros translate to $1,193,291).

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

More straightforward to Win, More Payouts

Suspended earlier this thirty days to ensure BetVictor could produce a few changes that are positive the structure because of its players, the jackpot are now able to be won more effortlessly, with more benefiting from the payout too.

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

Opt Set for Players

Players trying to be involved in the Bad Beat Jackpot now require to use the ‘opt-in’ option that exist on all cash tables above €0.10/€0.20, at which point they will contribute €0.02 towards the increasing jackpot each hand they perform a little price to pay for the opportunity to win a chunk of a huge prize.

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

When the happy winner manages to sweep the jackpot up, 10 percent of the reward pool will be distributed to players that have opted in during the stake degree at which the jackpot is hit.

It’s All Yours

In addition, BetVictor, which ended up being established in 1946 and is one of many world’s leading bookmaking that is independent gaming groups, has established that there is no administration fees involved, so the complete jackpot is going to be distributed to 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 flood gates battered down by those looking to play on low-stakes tables with the chance of a payout that is decent.