Six indicted in alleged $48 million lottery operation

Comment #5

liberal47 — Sat, 26 Aug 2006 23:58:31 GMT

Reminds me of a brothel that they busted in the Upper Penninsula of Michigan. The madam got off with just the charges of running a house, because she paid her taxes religiously every year that she was in operation. When they came back on her to hit her with back taxes, she showed them her records, and they couldn't do anything to her. Must have been her winning personality

Comment #4

RJOh — Sat, 26 Aug 2006 18:58:56 GMT

These guys didn't pay any taxes on that money. When the government get done charging penalties and fines, they will owe twice as much as they earned.

Years ago I participated in a company saving program that allowed employees to save up to 10% of their pay and the company would contribute an additional 30% to the account which had to set idle collecting interests for four years. At the end the four years, the account was freed up and taxes had to be paid on the company contributions and t... [ More ]

Comment #3

liberal47 — Sat, 26 Aug 2006 17:12:26 GMT

Wow! So they spend another $500,000 get a very good lawyer, who will plea the charges down to about 3 years in prison each, and after making a profit of about 5 million, even if they had to pay 500,000 apiece for the fine, they still have 4 million. So they set up their money to work for them while they work for the state, making license plates, and they come out smelling like a rose. All the while still running another operation from behind bars.

Who says crime dosen't pay

Comment #2

johnph77 — Sat, 26 Aug 2006 05:58:19 GMT

$48 million over 5 years. With an 80% payout percentage that represents a profit of $9.6 million. Not too shabby, considering the CA Pick 3 pays just over 50% on a pari-mutuel basis.

Even given they were giving the store owners an additional 10% that still represents a profit of $4.8 Mil..... I could make bail with that.

That's better than the bookies I knew in the DC area back in the 60s who paid off 60% on a Pick 3 numbers bet.....

Comment #1

RJOh — Fri, 25 Aug 2006 13:21:08 GMT

With 800 to 1 payouts and 10% of sales for the store owners, sounds like they were not only giving the state some competition, but also those off shore betting operations.

Six indicted in alleged $48 million lottery operation

Lottery Post — Fri, 25 Aug 2006 12:36:22 GMT

Suspected ring leaders of an underground lottery operation were indicted Thursday on charges of illegal gambling and money laundering in a scheme police say may have netted $48 million over five years.

According to a statement issued by U.S. Attorney McGregor Scott, Prasert Somsinsawasdi, 59, and his wife, Noy Somsinsawasdi, 46, ran the Sacramento-area lottery operation out of residences, Asian markets and small video stores, none of which were licensed lottery retailers.

Karen Ernst, an F... [ More ]