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> Third, I think that if you embezzle or otherwise use stolen funds to gamble that should absolutely be recoverable by the victim. If I buy stolen property, the
by ianferrel 10y ago
> Third, I think that if you embezzle or otherwise use stolen funds to gamble that should absolutely be recoverable by the victim. If I buy stolen property, the court has no problem seizing that from me and returning it to its rightful owner.
This is a nice idea, but it's not a workable system for money. For one, because money is fungible, you can't actually track who has it. If someone steals $1 million from an employer, and also drains all his personal assets (total $1 million), gambling a total of $2m at five different casinos over the course of several months, who do you claw the money back from? Who got the stolen money? How could any casino reasonable have figured anything out here, since he could easily have proved he had $1m in assets prior to the gambling?
- digler999 10y agoI think it's safe to make the casino pay 100% of the amount embezzled if it can be shown that the embezzlement was done to enable a gaming addiction. The amounts can usually be tracked, because any serious gambler is going to use a club card. The amount of free play, food, hotel rooms, travel, plus tax deductions, make it a given that a problem gambler would always use a card. That covers the "five different casinos" case. As far as commingling personal assets with embezzled, that's not how it works. Addicts don't resort to serious crimes until their personal assets are wiped out. So they should leave a pretty clear paper trail of money stolen ---> money given to casino.
- jmount 10y agoA bit on when money became fungible http://www.win-vector.com/blog/2015/11/bitcoins-status-isnt-as-simple-as-ruling-if-it-is-more-a-private-token-or-a-public-ledger/ http://www.win-vector.com/blog/2015/11/bitcoins-status-isnt-...