$1 Million Baccarat Con in South Korea

Filed in archive Casinos on January 11, 2005

Gambling Fraud Ring BustedIt took 8 people and 2 days to con 2 baccarat players out of $1million in a South Korean Casino

The con was simple

The team hired a baccarat table from a 'foreigner-only' casino on Cheju Island and recreated a realistic setting - wearing official casino uniforms, using regular casino chips - and essentially lavishly laying on the entire casino experience.

A set of pre-arranged playing cards were used as accomplices joined the game and urged the 2 players to place larger bets - in 5 hours, they lost $900,000.
The 'casino' lent the players more money by providing bounced checks.

The fraud came to a sticky end when the gang tried to collect the money.

But the rest of the scam sounded so simple - it makes you wonder if there was any control in the casino in the first place.