The story of alleged Minneapolis con artist Kalin Dao is dramatically detailed in the Minneapolis Star Tribune in an article by Dan Browning.
Dao is accused of bilking $10 million from as many as 500 investors in a Ponzi scheme that appears to have fueled her voracious gambling habit.
Two paragraphs of particular interest:
The first public event in the criminal case against Dao came Feb. 9, when prosecutors quietly charged Michael Pham, a former employee of MGM Grand in Las Vegas, with a single count of "aiding and abetting K.D." to launder money. Pham, 30, pleaded guilty Wednesday and is cooperating with the government. …
Pham said Dao gambled with money she had wired to the casino from her investor accounts. On one occasion, she told him: "I got my butt kicked, so I have to go back and work extra hard because it’s investor money," Pham recalled.
Read the whole story at: http://www.startribune.com/business/41231297.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU