Boyfriend Took Ex's $500k Casino Winnings & Upgraded: Lawsuit states

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https://nypost.com/2018/04/21/boyfr...utm_campaign=SocialFlow&utm_medium=SocialFlow




She was his lucky charm. But he was a wild card.

After returning from a January jaunt to Atlantic City, a New Jersey man went on a wild $500,000 winning streak at the Atlantic City baccarat tables with his girlfriend at his side, but after returning in January he stashed the cash and kicked her to the curb, she claims in a federal lawsuit.

“I never gambled before I met him,” Jasmine Zheng, 21, told The Post. “At first I was standing there watching him, after that we started gambling together.”




Her beau, longtime gambler Zhiwei Zheng, 26, would bet big, plunking down $2,000 a hand. He usually lost — until Jasmine (who isn’t related to Zhiwei) changed the game.

“Jasmine’s a good luck charm,” quipped her lawyer, James DeCristofaro.




“I kinda figured it out when I was watching,” she said.

The couple pooled their money and agreed to split any winnings, the suit says.

They started cashing in, and posted photos of towering stacks of benjamins and $5,000 chips on social media to prove it.

“Finally Made it!! 26 sittin’ on half a million!” Zhiwei boasted on Facebook.

In one photo, he flashes a Rolex Submariner. “$38,000 Rolex . . . Mine for Life,” he bragged.

When gambling, they would use Jasmine’s casino comp card, which meant the winnings — and taxes owed — were recorded in her name, she charges in Manhattan federal court papers.




They’d travel to and from Atlantic City’s boardwalk casinos, including Caesar’s Palace, on a $25-per-seat Chinatown bus, with their cash in Zhiwei’s backpack. His family, which owns a West New York, NJ, Chinese restaurant where the couple worked and met, held onto the spoils, but Jasmine didn’t mind.




“I was really trusting him at that time and I really loved him,” she said.

But the money “changed” her boyfriend, she said.

“He was, like, talking to other girls, flirting with other girls and I couldn’t handle that, and he said, ‘If you cannot handle that, then we just broke up,’ and he found another girlfriend right away,” she said.




The split left her reeling.

“It’s too scary for me. I couldn’t eat, I couldn’t sleep, I was crying all day. I was so hurt,” she said.

Neighbors described Zhiwei as a local tough in wrinkled clothes who turned poseur when he won big.

“I seen him about a month ago. He had a big chain, a Cuban Link, more than 100 grams . . . He says, ‘I got it from my girlfriend.’ He upgraded,” one neighbor said.




When Jasmine asked Zhiwei’s father to return her portion of their winnings so she could pay the taxes, he allegedly encouraged her to lie.

“You just tell them you lose all the money, then you don’t have to pay the tax for it,” she claims he told her.

She hasn’t seen a penny of the cash, said DeCristofaro, who called the breach of contract case “unreal.”



“What was this guy thinking?” he said.

Jasmine is seeking $500,000 in damages.

Zhiwei did not return messages. His family claimed not to understand English.
 

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this is pretty much how Mini bac works. Someone goes on a heater and has a new piece of ass with them, blows it all a few months later, and said piece of ass will be with new player chunking it
 

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2 idiots.

2018-4-19_zheng_complaint_-_final_158131084.jpg
 

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jadenzheng-facebook-9_158137038.jpg
 
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Posting those photos on facebook, probably a good way to get you and your family killed.
 

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Question.......Why would any of the winnings be taxable? Mini Bac or regular Bac pays even money (player) or less a 5% commission on the banker side....I thought that in order for winning to be taxable it had to be a 300 to 1 return
 

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gambling winnings are always taxable, one is only given a W2G tax forms above a certain threshold.
one can deduct gambling losses against wins if one itemizes deductions. by posting and bragging
about her winnings, she has made it easy for the IRS to pursue any tax liability. plus any amount
received from the cage above a certain amount is documented, plus there are probably records on
her player's card too. our resident accountant, willie, can correct me on anything here if i'm in error.
in the absence of documentation, many people "forget" to report gambling income, but that still is
violation of the tax code.
 

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gambling winnings are always taxable, one is only given a W2G tax forms above a certain threshold.
one can deduct gambling losses against wins if one itemizes deductions. by posting and bragging
about her winnings, she has made it easy for the IRS to pursue any tax liability. plus any amount
received from the cage above a certain amount is documented, plus there are probably records on
her player's card too. our resident accountant, willie, can correct me on anything here if i'm in error.
in the absence of documentation, many people "forget" to report gambling income, but that still is
violation of the tax code.

this is all spot on, there are federal requirements for any cash in transactions totaling over $10,000 or out 10k in a business day. The government will want to know the source of your income etc and then creating a paper trail for tax evasion etc. Often times why you will see people spread their cashouts or buy ins trying to circumvent these rules.

as for the lady, she looks rather large for an Asian gal in the above photo, so im not really surprised this guy started to have a wondering eye with his recent windfall, especially since it didnt seem like they were together too long anyways
 

schmuck
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there are two types of federal cash form requirements. a CTR which is a
currency transaction report, which is for transactions involving $10,000
or more ( I believe that's either at one time or for a 24 hour period.
the other form is a SARS, which is a suspicious activity report, and
that covers any transaction (s) that look suspicious but do not cause
a CTR to be generated. any business that handles cash (bank,
casino etc) is required to keep records and submit these forms
to prevent money laundering, tax evasion, terrorism etc.
the fines to the businesses for not keeping good records of
cash transactions and failing to submit these forms are quite severe.
 

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"When gambling, they would use Jasmine’s casino comp card, which meant the winnings — and taxes owed — were recorded in her name, she charges in Manhattan federal court papers."

That gives her case a great chance to win imo
 

schmuck
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the issue is probably this. someone owes taxes on the winnings. most likely
it's her, but in the best case scenario she probably owes taxes on half the
winnings. in her case, she doesn't have enough documented losses on her
account to offset her taxable liability since her ex dumped her, took the money,
and most likely gambled and lost on his own (or spent it). she is not dealing
from a position of strength or has much leverage. it would take a very good
lawyer or a sympathetic IRS to get her off the hook, both scenarios are
quite a longshot.
 
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the issue is probably this. someone owes taxes on the winnings. most likely
it's her, but in the best case scenario she probably owes taxes on half the
winnings. in her case, she doesn't have enough documented losses on her
account to offset her taxable liability since her ex dumped her, took the money,
and most likely gambled and lost on his own (or spent it). she is not dealing
from a position of strength or has much leverage. it would take a very good
lawyer or a sympathetic IRS to get her off the hook, both scenarios are
quite a longshot.

I posted this before, about 15 years ago or so we have a family friend who's a Slot Whale, plays in AC, lives in the Philly area was president of a Large TV station

anyway, My wife, myself and my brother in-law went to one of the Casinos to watch him play
He's playing a $5,000 or $10,000 Slot machine or whatever it was. He says to my wife take a pull, she really doesn't want to, but does.
It hits for $100,000
He usually has a Casino guy standing by with a board that they fill out for taxes ( not the regular Tax sheet ) they just stand there and when he hits, they fill out his name and he signs.

Anyway the guy was standing close by, but walks up for him to sign, the guy gets a call that it wasn't him that pulled for the hit.
Larry said don't worry, fill out the tax form and he's paying the taxes. He also threw her a few bucks

My pick is not sure how it would work on a table, they are also playing High Limit, so the pit boss knows who's playing.
But they used her card. They will if they have to go to any video to see who played what. But if you ask for a print out for taxes at the end of the year, it's going to be all on her card, it seems.

as far as the lawsuit, I think she gets him to pay the taxes, but not much more
 

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