A floor manager at the Red Hawk Tribal Casino in Placerville, California has been busted for leading a scam that ultimately saw the gambling house lose over $200,000. Prak Pich used his position to give lines of credits to a gambler, Luc Mooc, and then altered the paper trails of the credits to make it appear that they had been paid back. That would never have been possible with blockchain record-keeping.
The California Attorney General, Xavier Becerra, released a statement about the ordeal, explaining, These short term, no-interest credit lines are commonly extended by casinos to allow approved patrons easy access to gambling funds, with the understanding that the temporary loan would be repaid within a short period of time. However, instead of paying back the loans, Mooc and Pich allegedly conspired to steal the funds that would range anywhere from $12,000 to $14,000 at a time.”
There have been plenty of instances in the past of casino employees getting a little too creative with their duties, but almost invariably they are caught. Casinos have been around long enough to know the tricks and it isn’t difficult to figure out when something is not quite right. After the numbers weren’t adding up at the casino, the California Department of Justice, through its Bureau of Gambling Control, got together with the security team at the casino to see if they could figure out what was happening.
That apparently led to the cozy relationship between Pich and Mooc, both of whom were subsequently arrested last Thursday. The two were arraigned yesterday, but no details have yet been released.
Becerra added, “My office stands ready to fight back against those who try to get rich quick by breaking the law. The California Department of Justice will do its part to tackle criminal activity in our state.”
The case is reminiscent, albeit not as drastic, as another embezzlement scandal out of Florida. Employees at the Miccosukee Resort & Gaming property near Miami had rigged gaming machines to generate fake credit vouchers, which they then arranged to exchange for cash. By the time they were busted, after a four-year run, over $5.3 million had reportedly been stolen.
These are the latest examples of why blockchain is important to business, and can best be achieved through Bitcoin SV. Creating immutable and permanent records every step of the way, it would be impossible to alter any credit vouchers, credit extension paper trails, loans, etc. It would help outside the financial side, as well, making it easier to track entire inventories, rotations, timecards and every other aspect of the business. And it can be implemented for much less than what casinos are losing to fraud.