Baccarat Scammer Faces Lifetime in PrisonDe Rong Shang of California faces the rest of his life in prison for a scheme he concocted in Las Vegas. Shang is fifty years old and worked with fellow gamblers to open up credit lines to steal cash from casinos in the state of Nevada.
Shang was convicted last week of seventeen counts of mail fraud and one count of conspiracy to commit mail fraud. All of these charges were connected to a gambling scheme which gave Shang over $1 million dollars.
Shang had a partner, Yuli Eaton, who worked with him to recruit people to apply for lines of credit at casinos in Las Vegas. The players would get approved for the line of credit at a casino and then the money credited would then be transferred from the casino account to one set up for Shang.
The recruited players would then withdraw chips from the line of credit and play baccarat. They would then gradually hand chips to Shang by making it look like they lost. Players would then gradually ask for higher lines of credit so they could continue playing the game of baccarat and get more cash for Shang as well as their cut.
Shang reportedly paid $300 for every $10,000 of credit a player opened. When the casino would try to get the money back, the accounts would then be closed or drained by the time the casino tried to recover any funds.
By the end of the scam, both Shang and Eaton were able to take $1,011,400 from three casinos. Eaton pled guilty to conspiracy and is now waiting to be sentenced. Shang will be sentenced on July 16th and currently faces over $4.5 million in fines.
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