An indictment has been issued in the Southern District of California which reveals an interesting casino cash scheme that one man cooked up in order to cheat both a range of casinos and Citibank out of large amounts of money, along with the help of at least thirteen other recruits who he pulled in to help with his scheme. All of those so far known to be involved have since been arrested, but we have to admit it was quite a daring one to pull off – and it would have given them a huge fortune if they had not been caught.
The indictment makes allegations that 29 year old Ara Keshishyan had discovered a glitch through using Citibank accounts in casinos: if you make very quick withdrawals of identical amounts within sixty seconds of one another at a casino kiosk, then you can get all of that money exchanged at the cage whilst only one transaction would have left the actual account. He split his so called seed money between all thirteen of the participants, and sent them to a range of casinos – Morongo, Pechanga, San Manuel, Chuckchansi, Agua Caliente, and Spa Resort in California, and the Tropicana, Wynn Las Vegas, Bicycle, Whiskey Pete’s, and Harrah’s Laughlin in Nevada. After the exchanges were made, the cash was handed back to Keshishyan, who largely used the money to gamble on slot machine games in order to try and increase his share even further. All of the participants were paid for their part in the scheme, and to avoid detection they made sure that all of the transactions fell under the $10,000 at which federal reports must be made.
Thanks to the fact that Keshishyan and his associates were gambling with huge amounts of money, the irony is that they racked up huge amounts of comp points and were even allowed into loyalty rooms due to the fact that they were playing so much money in each place – with the casinos none the wiser that it was all illegally gained. All of the defendants could face up to five years in prison with up to a $250,000 fine.