OTB employee steals $696,000

[upthecreek]

http://www.thoroughbreddailynews.com/massive-otb-theft-alleged-in-maine/#.WfCebacHqPI.twitter

[wisconsin]

:eek:

4 years worth of "discrepancies" and nothing done about it until now? And no criminal filing?

[chiguy]

Somebody was asleep at the wheel. Maybe I don't have a good criminal mind but having spent some years in the money room in Southern Cal this would be extremely difficult to pull off and would require several people to be involved. I think they must have had a poor process of check and balances.

[elhelmete]

Wow, that stinks to high heaven in many ways.

[green80]

Wow, that stinks to high heaven in many ways.

You are right, how is almost 700k missing and nobody comes up short anywhere? And no criminal charges? Something is very wrong here or we are not getting the whole story.

[elhelmete]

You are right, how is almost 700k missing and nobody comes up short anywhere? And no criminal charges? Something is very wrong here or we are not getting the whole story.

It's not a secret that the Maine OTBs are often used as layoff points for lots and lots and lots of 'money from elsewhere,' the local population doesn't push this kind of $ through the windows.

[FantasticDan]

You are right, how is almost 700k missing and nobody comes up short anywhere? And no criminal charges? Something is very wrong here or we are not getting the whole story.Maybe he agreed to give back 5%? :cool:

[AlsoEligible]

It was later alleged in court documents that Tardiff often waited until the business had closed in the evenings to use a former employee’s login password to “print off a betting voucher receipt for either $1,415 or $2,380, or $5,660 without paying cash into the system.” The lawsuit alleges that Tardiff then later either placed bets with the vouchers or simply cashed them in.

So he would log into a teller machine using the number of an employee that no longer works there. Then print off vouchers worth thousands. Then presumably cash them in at a later date and pocket the money.

#1 - Why was a former clerk's number still in the system? Isn't that pretty much standard procedure after someone quits or get's fired?

#2 - Tote reports for this OTB would show this former teller being short thousands (if not tens of thousands) every day that this happened. Management never noticed that?

#3 - Tote reports would also show this former teller logging on routinely after the place was closed. That never set off any flags, either? Why were the betting windows even still able to be logged into after hours?

Either the guy had help, or this is one of the grossest examples of negligence I've ever seen in this industry. There is absolutely no reason why anyone at this OTB should keep their job. Even if they weren't involved, management has shown that they're not capable of running a lemonade stand, let alone a betting shop.

[elhelmete]

So he would log into a teller machine using the number of an employee that no longer works there. Then print off vouchers worth thousands. Then presumably cash them in at a later date and pocket the money.

#1 - Why was a former clerk's number still in the system? Isn't that pretty much standard procedure after someone quits or get's fired?

#2 - Tote reports for this OTB would show this former teller being short thousands (if not tens of thousands) every day that this happened. Management never noticed that?

#3 - Tote reports would also show this former teller logging on routinely after the place was closed. That never set off any flags, either? Why were the betting windows even still able to be logged into after hours?

Either the guy had help, or this is one of the grossest examples of negligence I've ever seen in this industry. There is absolutely no reason why anyone at this OTB should keep their job. Even if they weren't involved, management has shown that they're not capable of running a lemonade stand, let alone a betting shop.

It really is mind boggling, especially the comment at the end to the effect of "I don't know what you're doing, but stop it" made by the owner...a former tote company employee.

[Quesmark]

It was later alleged in court documents that Tardiff often waited until the business had closed in the evenings to use a former employee’s login password to “print off a betting voucher receipt for either $1,415 or $2,380,or $5,660 without paying cash into the system.”

http://www.thoroughbreddailynews.com/massive-otb-theft-alleged-in-maine/#.WfCebacHqPI.twitterRandom amounts,or...

[chiguy]

Numbers seem random to me. They don't mean anything in the money room or at the window in California as far as I can tell.

[elhelmete]

Numbers seem random to me. They don't mean anything in the money room or at the window in California as far as I can tell.

Yeah I fiddled with them to see if perhaps they had some general significance, but I think it's just an oddly worded sentence. The only thing is they're each a multiple of $1415.

[johnhannibalsmith]

I'm guessing that they meant to type $2830, rather than $2380, which makes a common factor. Agreed that this story makes absolutely zero sense the way it is told here.

[elhelmete]

I'm guessing that they meant to type $2830, rather than $2380, which makes a common factor. Agreed that this story makes absolutely zero sense the way it is told here.

Ooops, yes, my dyslexia saw 2830!

[thaskalos]

It really is mind boggling, especially the comment at the end to the effect of "I don't know what you're doing, but stop it" made by the owner...a former tote company employee.

If the OTBs were "legitimate" businesses, where actual products were being sold to the public in order to recoup the upfront cost dished out for these products...then I doubt that the owners would be so lackadaisical about theft of this type.

[JustRalph]

I lived in Maine for 2 years while in the service.

Doesn’t surprise me a bit.........:lol:

[Tom]

OTB in NYS.....talk about your 10 lbs. of Sin a 5 lbs. bag!
What cold go wrong - the two most vile, crooked organizatins in the country team up.

Lucky it was only 700K.

[AlsoEligible]

Numbers seem random to me. They don't mean anything in the money room or at the window in California as far as I can tell.

Trying to get a variety of denominations?

$1,415 = 8 $100s, 8 $50s, 6 $20s, 6 $10s, 7 $5s

I've never worked in a money room, but if you were trying to embezzle $700k out of one, would it make more sense to spread it evenly across different denominations? A small OTB that's constantly short on big bills might raise more red flags.

[chiguy]

I have to believe there is more to this story. When you work an OTB you are started with a set amount of money, broken down in 100's, 20's, 5's 1's quarters and dimes. From the first day onward you are trying to keep it as close to that number as possible. Depending on the size of the OTB you have a pick-up and delivery anywhere from daily to weekly. If you had a big week and have more than your number on hand you do a deposit through the armored car pick up. If you get cleaned out you get a delivery through the armored car. You also at least once a week get audited in person. When you count the safe you take the big bills and roll your thumb through each stack to ensure there are all big bills in that stack. So say you have 100k in hundred dollars bills. You count it based on the stack size then run you thumb through both sides of the stack to ensure you don't have a bunch of dollar bills in there. You count everything including quarters and dimes. Somebody wasn't doing their job somewhere.

[thaskalos]

...Somebody wasn't doing their job somewhere.

An accomplice, or two, perhaps?

[garyscpa]

If the OTBs were "legitimate" businesses, where actual products were being sold to the public in order to recoup the upfront cost dished out for these products...then I doubt that the owners would be so lackadaisical about theft of this type.

You mean legitimate like a bookie?

[thaskalos]

You mean legitimate like a bookie?

Yes.

[garyscpa]

Yes.

Oh, I thought you meant legitimate like carrying a handgun illegally.

[thaskalos]

Oh, I thought you meant legitimate like carrying a handgun illegally.

Hey...it's a cruel, pitiless world...and the bad-guys don't follow the rules. In my line of work...I run into back-alley barbarians.

[garyscpa]

So there are no rules?

[thaskalos]

So there are no rules?

IMO..."survival" is rule #1. You do what you think is best for you...while refraining from hurting those who mean you no harm. Everything else is mere window-dressing...as far as I am concerned.

[garyscpa]

Well, that is a rule.

[thaskalos]

Well, that is a rule.

I didn't say that there were "no rules"...YOU did!

I obey my own rules.

[garyscpa]

I didn't say that there were "no rules"...YOU did!

I obey my own rules.

Are you a bag man?

[thaskalos]

Are you a bag man?

No...the bag is mine.

[garyscpa]

No...the bag is mine.

It would probably be safer to get a check.

[thaskalos]

It would probably be safer to get a check.

You have a great sense of humor. :ThmbUp:

[garyscpa]

It would probably be safer to get a check.

Well, only if the bookie is legitimate.

[NJ Stinks]

Just a thought from a horseplayer....

If I played the horses at this OTB, I'd be worried the place closes. I don't think ADW's are legal in Maine and it's a big state....

[betovernetcapper]

I wonder if their excepting job applications. I'd be willing to move there and even agree to stay late & close up every night. Give me the old guy's passcode and they could keep the $9 an hour. :)

[cj]

Safe to say Ben Affleck wasn't the accountant there.

[elhelmete]

I have to believe there is more to this story. When you work an OTB you are started with a set amount of money, broken down in 100's, 20's, 5's 1's quarters and dimes. From the first day onward you are trying to keep it as close to that number as possible. Depending on the size of the OTB you have a pick-up and delivery anywhere from daily to weekly. If you had a big week and have more than your number on hand you do a deposit through the armored car pick up. If you get cleaned out you get a delivery through the armored car. You also at least once a week get audited in person. When you count the safe you take the big bills and roll your thumb through each stack to ensure there are all big bills in that stack. So say you have 100k in hundred dollars bills. You count it based on the stack size then run you thumb through both sides of the stack to ensure you don't have a bunch of dollar bills in there. You count everything including quarters and dimes. Somebody wasn't doing their job somewhere.

Agreed, and it sounds like you have first hand knowledge.

I have to believe three things:

1) Didn't act alone.
2) There's no way he hit enough winners to ponzi it forward to keep the till balanced.
3) Something must have changed in the cash reconciliation protocols which prevented him from continuing.

[garyscpa]

Safe to say Ben Affleck wasn't the accountant there.

His hand probably wouldn't have been in the till.:)