Federal authorities accuse two men of hiding sports betting money
Two Las Vegas sports bettors have been charged in a federal complaint alleging they engaged in illegal chip transfers between their Cantor Gaming accounts at Strip casinos to avoid filing currency transaction reports.
Aaron Virchis, 30, and Mitchell Garshofsky, 53, both are facing one count of conspiracy to cause a domestic financial institution to fail to file an accurate currency transaction report.
By federal law, all financial institutions, including casinos, must file accurate reports of cash transactions above $10,000. The law is designed to combat money laundering.
From July 31 through Jan. 31, Virchis and Garshofsky tried to evade the federal reporting requirements by making more than $1 million in chip transfers between their Cantor Gaming accounts, the complaint alleges.
Seven of the transfers occurred at The Venetian and one at the Hard Rock, according to the complaint.
Chip transactions allow the transfer of funds between accounts without using cash.
Virchis, described in the complaint as one of the biggest sports bettors in Las Vegas, also is accused of unlawfully transferring $300,000 worth of chips on Jan. 7 between his Cantor Gaming accounts at The Venetian and the Palms
Federal agents suspect Virchis and Garshofsky have been “settling up” outstanding wagers with an offshore sport book through the chip transfers.
Virchis also is alleged to have used phony Social Security numbers for currency transaction reports at Palace Station and Bellagio.
The case was brought by a financial crimes task force led by the Internal Revenue Service.
The task force is investigating suspicious betting in Las Vegas. The U.S. Secret Service and the Nevada Gaming Control Board are task force members.
The federal complaint was filed Feb. 6 and unsealed Thursday.
Contact Jeff German at jgerman@reviewjournal.com or 702-380-8135.
