In the Resorts World money-laundering case, one defendant plea bargained a deal for AML violations and operating an illegal gambling business, booking sports bets. He apparently "lost" more than $12 million and he was looking at up to 15 years in prison. Did he ever start serving his time? And if he did, what would happen to any outstanding markers he had with the casino?
You're referring to Damien LeForbes, a former professional poker player who pled out and faces not only 15 years behind bars, but up to $500,000 in fines. LeForbes' sentencing was originally scheduled for early February, but that was postponed until late June. As of now, he hasn't seen the inside of a prison cell.
As for what might happen to any markers the casino holds that he signed, that's not much different than if he doesn't go to prison.
When a player is approved for a line of credit, it's done through the player's bank. Any time a casino issues a marker, it has the player's bank-account information. When you take a marker, you're essentially signing over a personal check to the casino for the amount of the marker. If the marker isn't paid back within the agreed-on term, usually 30 days (with a possible grace period), the casino "dumps" that check -- in other words, withdraws the funds directly from your account.
Nothing really changes with the player behind bars; it's the same as if he's still walking free, as far as the casino is concerned.
Some banks freeze personal accounts after periods of inactivity, e.g., if someone is incarcerated. But that doesn’t happen for at least three months. The casino usually cashes the marker in less than that.
Where it gets tricky is if there aren't enough funds in the account to cover the marker. This is the same as bouncing a check. If that happens, the casino has the right to pursue the debt legally and you better believe it will.
If a person tries to skip out on a marker of even a mere $500, he can be slapped with a felony charge under bad-check laws in most states. Indeed, the Bad Check Unit at the Clark County District Attorney's office is the official collection agent for the Las Vegas casinos, taking its cut on every debt collected.
In unusual cases, such as a player going to prison for a long time with no funds to retire a marker, the casino can’t keep such an unpaid debt on its books. If an unpaid debt is 24 months old, the casino typically writes it off, situation dependent. But by that point, serious legal charges have been brought against the debtor. The imprisoned player might have escaped the marker, but in all likelihood, he'll be in even more trouble than for what put him there.
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Randall Ward
May-12-2025
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Kevin Lewis
May-12-2025
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Hoppy
May-12-2025
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Kevin Lewis
May-12-2025
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Hoppy
May-12-2025
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