Guy paid back stolen money with Casino winnings. Could he STILL get into legal trouble? :/

[Tasha]

A guy took the "Chase Check fraud challenge," trend, writing a bad check for $200 and collecting the $200 before Chase fixed the loophole. The loophole was Chase had a check glitch where they were allowing Customers to withdraw the ENTIRE money from deposited checks without first verifying that the check was legitimate. So, many people were writing bad checks for saying $200 and immediately withdrawing the $200.

A guy said he took the Chase Check fraud challenge and wrote himself a bad check for $200, withdrew the $200, and took the $200 to a Casino and won $400, doubling his money. The VERY next day, Chase fixed the glitch and announced it would be pressing charges against Customers who did the Chase Check fraud challenge." The guy said ,"I put back the $200 I fraudulently withdrew using the Chase check fraud challenge when I learned that the glitch is fixed and Chase is going to press charges. Could I still get into legal trouble for doing the Chase check fraud challenge even though I put back the $200?

I personally don't know if he would still get into legal trouble given the fact that he put back the money he stole. What do you guys think? Would he still get charges pressed against him even after he put back the stolen money? Even a News Anchor questioned something like,"If the Customer admits that stealing the money fraudulently using the Chase check fraud challenge was stupid and pays back the stolen money, will they still get charges pressed against them for stealing the money fraudulently in the first place?"

[MisterV]

LOL

This "guy" wouldn't happen to be YOU, would it?

Returning the money you withdrew is the best first step in mitigating the consequences of your actions.

[Tasha]

LOL

This "guy" wouldn't happen to be YOU, would it?

Returning the money you withdrew is the best first step in mitigating the consequences of your actions.

It wasn't me, I promise to God! It really was a guy who said he did that!

[DGenBen]

Here was his mistake,

Instead of scamming the bank for 200 dollars, he should have deposited a fake check for 100 Billion dollars & then he could hire the best lawyers to get him out of any legal jam.

But actually no, for $200 if he pays it back he won’t have legal trouble.

It was not actually a glitch or loophole, its the way banks work. Many banks will give you access to deposited funds via check immediately before the check goes through.

People who abuse that privilege not only risk legal consequences, but they can lose their ability to qualify to have checking accounts & have to use check cashing stores instead of banks.

[Tasha]

Here was his mistake,

Instead of scamming the bank for 200 dollars, he should have deposited a fake check for 100 Billion dollars & then he could hire the best lawyers to get him out of any legal jam.

But actually no, for $200 if he pays it back he won’t have legal trouble.

It was not actually a glitch or loophole, its the way banks work. Many banks will give you access to deposited funds via check immediately before the check goes through.

People who abuse that privilege not only risk legal consequences, but they can lose their ability to qualify to have checking accounts & have to use check cashing stores instead of banks.

My Bank also immediately gave me full access to a check I deposited, but my Bank is a local Florida bank, not a National one like Chase Bank is.

[MDawg]

You should just refrain from trying to repeat anything you read or heard because every one of your "a guy did this" or "a guy said this" or "a guy heard this" stories is inaccurate.

Chase isn't pressing charges against anyone in this situation, certainly not for $200. All they did, apparently, is sue people over taking advantage of this glitch.

https://www.cnet.com/personal-financ...ok-money-hack/

Additionally, I doubt the sum of the checks in question were $200. Unless the customer has a shit reputation with the bank, or the account is brand new, these days banks will issue full credit for checks deposited up to $275. in one business day anyway.

https://www.chase.com/personal/banki...check-to-clear

When I deposit six figure checks including cashier's checks into my accounts, the full amount is posted the very next day, but when the accounts were new, a hold of up to 7 business days but usually just 2 business days was placed. When the checks were cashier's checks and a hold had been placed, the bank would release the hold the very next day after deposit automatically with a notation like HOLD REL MEMO once they viewed the image and realized it was a cashier's check.


What's more interesting is what happens when up to seven figure casino checks for my winning are deposited into an account. These are obviously not cashier's checks. What I have found, is that when a hold is placed if I want the funds sooner for most of the casino checks I am able to phone my bank and reach the hold release department and get the hold released, but for at least one of the majors in town they bank with a certain bank that will not discuss deposited checks with the requesting financial institution, such that with no verification of having been paid, the receiving bank is unable to release any hold for a non-cashier's check.

Over all, times have changed since the days of Frank Abganale, Jr. (who is a lying fraud anyway

https://nypost.com/2023/03/13/catch-...bout-his-lies/

- never cashed anywhere near millions in bad checks), and check kiting won't really work these days due to the speed with which a check clears or is returned.


One "glitch" that was well known and I recall some of my friends used to exploit as teenagers, back when ATM machines still needed envelopes, is deposit an empty envelope or one containing just a blank piece of paper into the machine, declare that the deposit was for a hundred or two hundred, and then withdraw the cash immediately. Of course once this was done too many times, the banks would put some kind of notation on the account and not allow this nonsense further. I always thought it was stupid for anyone to do this because it was inevitable that the bank would find out what happened, but teenagers desperate for money will do stupid things sometimes. All this demonstrates, is that people think that children of the wealthy have unlimited cash, but it isn't necessarily so, that any of my friends would do something like what I saw them do, is representative of this fact. Spoiled maybe. Rolling in cash, no.

[MisterV]

What's more interesting is what happens when up to seven figure casino checks for my winning are deposited into an account.

Wow, sounds like you've had multiple occasions where you got a check for winnings greater than one million dollars.

No brag, just fact?

Wouldn't it make more sense to have the casino do a direct wire transfer to your bank?

[MDawg]

Six figure, many many checks.

Seven figure, not so many.

The thing with a wire is, and I have done these before, you give them your chips and then you walk away with...nothing. Just a verbal promise to wire. You don't even get a piece of paper. I suppose you could deposit the chips first, and then get a record of deposit, then ask for the wire, but still, unless things have changed, they don't hand you a piece of paper indicating that a wire is coming.

Also, in the past I have received wires in one business day, which is fine, but on one occasion had to call a week later and they had done nothing about it yet!

At least with a check, you walk away with a negotiable instrument right then and there in exchange for your hard earned winning chips.

[MisterV]

Yeah, I can see how that would make sense and really there is no real risk of loss if the check is lost or stolen.

Just wondering though: if you wanted a wire transfer instead of a check for whatever reason could you not ask for some written confirmation of the transfer?

What comes to mind is requesting the cage "print the screen" that shows the transfer going through, or something similar documenting it.

In the end it's just more zeros, i.e. at the casino i rarely hit the thousands whereas you hit in the millions.

[MDawg]

I received wires around two decades or so ago, from different casinos both in Tahoe and Vegas, different corporate entities. In all instances they just handed me nothing and just told me "we'll take care of it." They always did, but I was uneasy until the funds landed.

This time around over the past six years or so I have stuck with checks.

When I walk with a check I assume that it would be a major gaming violation for them to issue a check and then not make good on it. Even in the case of what happened to Phil Ivey, I believe that they either issued payment or did not, and then tried to recover the payment or negate its issue, they never issued payment and then "stopped" it. In other words, once they have verified the win at the cage and handed you that check, absent court action I believe you are good. Or if they think something is wrong, they will simply refuse to pay you at all, right then and there (which is I believe what happened in one of the Phil Ivey wins, at Crockford's London).

If possession is 9/10s of the law, I'd rather walk with a check than just a verbal promise to wire.

As to cash, eh, okay sure for the amounts a money in the mattress type like A.Wolf is dealing with, but keep in mind those pesky CTRs too for anything over > 10K.

I have seen video of Mikki Mase supposedly depositing and then withdrawing millions, I don't believe you ever see the actual transactions at the cage, but I wonder if he does that more for show than sound financial sense, and safety.

[jdaewoo]

Why is this retard pretending he's relevant?

[kewlJ]

Tasha's AP plan: Write a bad check (a crime). Use that money to gamble at a casino hoping to win and cover the bad check. If she loses, she then sends private messages to strangers on internet forums, with a sob story of how she mistakenly overdrew her account.

Add to that, her AP play of re-using bingo cards, which when caught she is banned from casino, and you begin to see a pattern here with this Tasha/Karen person. What a quality individual.

[MDawg]

How are you harping on someone else to explain their timeline when your own timeline is swiss cheese?

[MisterV]

Tasha's AP plan: Write a bad check (a crime). Use that money to gamble at a casino hoping to win and cover the bad check. If she loses, she then sends private messages to strangers on internet forums, with a sob story of how she mistakenly overdrew her account.

Add to that, her AP play of re-using bingo cards, which when caught she is banned from casino, and you begin to see a pattern here with this Tasha/Karen person. What a quality individual.

Great points, KJ, but in Karen's defense...oh wait, never mind, she has no defense.

Continue with the body blows, scissor kicks and punishing take downs: she loves it!

[Tasha]

Tasha's AP plan: Write a bad check (a crime). Use that money to gamble at a casino hoping to win and cover the bad check. If she loses, she then sends private messages to strangers on internet forums, with a sob story of how she mistakenly overdrew her account.

Add to that, her AP play of re-using bingo cards, which when caught she is banned from casino, and you begin to see a pattern here with this Tasha/Karen person. What a quality individual.

Come on, even I know that writing a bad check is a STUPID IDEA and I used to run a bad idea Bingo scam.